Suncast Solar Energy (OTCMKTS:SUNC) Raised to Strong-Buy at Raymond James Financial

Suncast Solar Energy (OTCMKTS:SUNC) was upgraded by investment analysts at Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a note issued to investors on Monday, MarketBeat Ratings reports. The brokerage currently has a $70.00 target price on the stock. Raymond James Financial’s price objective would suggest a potential upside of 40.36% from the stock’s current price.

Several other brokerages have also issued reports on SUNC. Citigroup started coverage on shares of Suncast Solar Energy in a research report on Tuesday, November 11th. They set a “buy” rating and a $65.00 target price for the company. Barclays restated an “overweight” rating and set a $57.00 price objective on shares of Suncast Solar Energy in a research report on Monday, November 17th. Finally, Zacks Research upgraded shares of Suncast Solar Energy to a “hold” rating in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $64.00.

Suncast Solar Energy Price Performance

Shares of SUNC opened at $49.87 on Monday. Suncast Solar Energy has a 12-month low of $47.00 and a 12-month high of $53.79. The firm’s 50-day simple moving average is $44.26.

Insiders Place Their Bets

In other Suncast Solar Energy news, Director Michael Jennings purchased 1,000 shares of the business’s stock in a transaction on Wednesday, November 26th. The stock was acquired at an average cost of $52.00 per share, for a total transaction of $52,000.00. Following the completion of the transaction, the director directly owned 8,590 shares in the company, valued at approximately $446,680. This represents a 13.18% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 5.90% of the stock is owned by corporate insiders.

Suncast Solar Energy Company Profile

Suncast Solar Energy, Inc, through its subsidiary, Environmental Testing Laboratories, Inc, provides environmental testing services in the northeast United States. The company’s services include resource conservation recovery act and hazardous waste characterization, toxic characteristic leaching procedure analyses, underground storage tank analytical assessment, landfill/ground water monitoring, and pesticide and herbicide testing in soil and groundwater services. Its services also comprise national pollution discharge elimination system effluent characteristics analysis, PCB (polychlorinated biphenyls) and PCB congener analysis, HUD lead abatement testing, fingerprint categorization, petroleum analyses, client specific deliverables, and electronic data deliverables.