The Goldman Sachs Group Reiterates Buy Rating for Sunrun (NASDAQ:RUN)
The Goldman Sachs Group has reiterated a "buy" rating for Sunrun (NASDAQ:RUN) with a target price suggesting a potential upside of 5.71%. Other analysts have also raised their price targets, with a consensus rating of "Moderate Buy". Sunrun's stock opened at $10.92, with a market cap of $2.23 billion. The company reported earnings of $0.55 per share, exceeding estimates, but revenue declined 11.2% year-over-year. Recent insider sales included CFO Danny Abajian and Director Lynn Michelle Jurich selling shares. Institutional investors have also adjusted their positions in Sunrun recently.
Sunrun (NASDAQ:RUN - Get Free Report)'s stock had its "buy" rating restated by stock analysts at The Goldman Sachs Group in a report issued on Wednesday, Benzinga reports. They currently have a $20.00 target price on the energy company's stock. The Goldman Sachs Group's price target would suggest a potential upside of 5.71% from the stock's current price.
- Is This Solar Stock Ready for a Comeback? Key Milestones Ahead
A number of other research analysts have also recently commented on the stock. Oppenheimer upped their price target on shares of Sunrun from $19.00 to $22.00 and gave the stock an "outperform" rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Sunrun from $19.00 to $22.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. BMO Capital Markets lifted their price target on shares of Sunrun from $17.00 to $20.00 and gave the company a "market perform" rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price objective on Sunrun from $12.00 to $16.50 and gave the stock a "hold" rating in a research note on Thursday, August 8th. Finally, Susquehanna increased their price target on Sunrun from $23.00 to $24.00 and gave the stock a "positive" rating in a research report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.33.
Check Out Our Latest Research Report on Sunrun
Sunrun Stock Performance
- Massive Breakout: This ETF Signals Big Gains for Small-Cap Stocks
Shares of NASDAQ:RUN opened at $18.92 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of -2.84 and a beta of 2.59. Sunrun has a 12 month low of $8.43 and a 12 month high of $22.26. The firm's 50-day moving average is $18.64 and its 200 day moving average is $14.53.
Sunrun (NASDAQ:RUN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.88. The firm had revenue of $523.87 million for the quarter, compared to the consensus estimate of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. The company's revenue for the quarter was down 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. Research analysts predict that Sunrun will post -0.16 EPS for the current year.
Insiders Place Their Bets
- 3 Solar Stocks to Watch that are Building the Green Energy Future
In other Sunrun news, CFO Danny Abajian sold 4,662 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $12.62, for a total transaction of $58,834.44. Following the sale, the chief financial officer now directly owns 283,098 shares of the company's stock, valued at approximately $3,572,696.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $20.20, for a total transaction of $1,010,000.00. Following the transaction, the director now owns 1,192,446 shares in the company, valued at $24,087,409.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Danny Abajian sold 4,662 shares of the business's stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.62, for a total value of $58,834.44. Following the completion of the sale, the chief financial officer now owns 283,098 shares of the company's stock, valued at $3,572,696.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,675 shares of company stock valued at $3,253,289. 3.76% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Sunrun by 14.0% during the first quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company's stock worth $294,245,000 after acquiring an additional 2,743,148 shares during the period. Greenvale Capital LLP lifted its stake in Sunrun by 20.5% in the 2nd quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company's stock valued at $139,355,000 after buying an additional 2,000,000 shares in the last quarter. Robeco Schweiz AG lifted its stake in Sunrun by 23.5% in the 1st quarter. Robeco Schweiz AG now owns 4,611,300 shares of the energy company's stock valued at $60,777,000 after buying an additional 876,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Sunrun by 20.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company's stock worth $52,025,000 after buying an additional 729,633 shares during the last quarter. Finally, Sylebra Capital LLC purchased a new stake in Sunrun during the 2nd quarter worth approximately $35,387,000. Hedge funds and other institutional investors own 91.69% of the company's stock.
About Sunrun
(Get Free Report)Sunrun Inc designs, develops, installs, sells, owns, and maintains residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking; and solar leads generated to customers. In addition, the company offers battery storage along with solar energy systems; and sells services to commercial developers through multi-family and new homes.
Further Reading
- Five stocks we like better than Sunrun
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- 4 Catalysts Poised to Push Caterpillar Stock to Record Highs
- Best Stocks Under $5.00
- Why Small-Cap Stocks Could Be Ready to Outperform After Rate Cuts
- How to Use Stock Screeners to Find Stocks
- FedEx Stock Dips: Why Analysts See a Quick Rebound Coming
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
→ Trump Warns Gov. Can Confiscate Your Money. CBDC's give Gov. absolute (From Monetary Gold) (Ad)
Should you invest $1,000 in Sunrun right now?
Before you consider Sunrun, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sunrun wasn't on the list.
While Sunrun currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
