Barclays Boosts Sunrun (NASDAQ:RUN) Price Target to $19.00

Sunrun (NASDAQ:RUN) had its target price increased by Barclays from $16.00 to $19.00 in a report released on Tuesday morning, Benzinga reports. Barclays currently has an equal weight rating on the energy company’s stock.

A number of other equities analysts have also recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Sunrun from $14.00 to $19.00 and gave the company an overweight rating in a research note on Tuesday, July 16th. Jefferies Financial Group cut their target price on shares of Sunrun from $32.00 to $26.00 and set a buy rating on the stock in a report on Thursday, May 9th. Morgan Stanley increased their target price on shares of Sunrun from $24.00 to $29.00 and gave the stock an overweight rating in a report on Friday, June 14th. Piper Sandler increased their target price on shares of Sunrun from $15.00 to $20.00 and gave the stock an overweight rating in a report on Monday, July 22nd. Finally, Susquehanna increased their target price on shares of Sunrun from $23.00 to $24.00 and gave the stock a positive rating in a report on Monday, July 15th. Seven investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Sunrun presently has a consensus rating of Moderate Buy and a consensus price target of $21.42.

Sunrun Price Performance

Shares of RUN stock opened at $17.86 on Tuesday. Sunrun has a 52-week low of $8.43 and a 52-week high of $22.16. The stock has a market cap of $3.96 billion, a PE ratio of -2.68 and a beta of 2.61. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.99 and a current ratio of 1.31. The firm’s 50 day moving average price is $14.06 and its two-hundred day moving average price is $13.16.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, May 8th. The energy company reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.09. Sunrun had a negative net margin of 68.22% and a negative return on equity of 3.58%. The firm had revenue of $458.20 million for the quarter, compared to analysts’ expectations of $471.38 million. During the same period last year, the firm earned ($1.12) earnings per share. The business’s revenue for the quarter was down 22.3% on a year-over-year basis. As a group, analysts forecast that Sunrun will post -1.25 EPS for the current year.

Insider Activity

In other news, CEO Mary Powell sold 1,741 shares of Sunrun stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $14.86, for a total value of $25,871.26. Following the completion of the transaction, the chief executive officer now owns 589,927 shares of the company’s stock, valued at approximately $8,766,315.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Mary Powell sold 1,741 shares of Sunrun stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $14.86, for a total value of $25,871.26. Following the completion of the transaction, the chief executive officer now owns 589,927 shares of the company’s stock, valued at approximately $8,766,315.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of Sunrun stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $16.93, for a total transaction of $846,500.00. Following the completion of the transaction, the director now directly owns 1,294,383 shares of the company’s stock, valued at approximately $21,913,904.19. The disclosure for this sale can be found here. Insiders sold a total of 255,712 shares of company stock valued at $3,706,261 in the last quarter. Company insiders own 3.76% of the company’s stock.

Institutional Trading of Sunrun

Several hedge funds and other institutional investors have recently modified their holdings of RUN. Vanguard Group Inc. boosted its holdings in shares of Sunrun by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock worth $294,245,000 after buying an additional 2,743,148 shares during the period. Norges Bank bought a new position in shares of Sunrun during the fourth quarter worth approximately $23,186,000. Greenvale Capital LLP increased its holdings in shares of Sunrun by 15.3% during the fourth quarter. Greenvale Capital LLP now owns 8,300,000 shares of the energy company’s stock worth $162,929,000 after purchasing an additional 1,100,000 shares during the period. Masters Capital Management LLC bought a new position in shares of Sunrun during the fourth quarter worth approximately $19,630,000. Finally, Robeco Schweiz AG increased its holdings in shares of Sunrun by 23.5% during the first quarter. Robeco Schweiz AG now owns 4,611,300 shares of the energy company’s stock worth $60,777,000 after purchasing an additional 876,000 shares during the period. Institutional investors own 91.69% of the company’s stock.

Sunrun Company Profile

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.