JPMorgan Chase & Co. Boosts Sunrun (NASDAQ:RUN) Price Target to $22.00

Sunrun (NASDAQ:RUN) had its price objective upped by JPMorgan Chase & Co. from $19.00 to $22.00 in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the energy company’s stock.

Other equities analysts also recently issued research reports about the company. Evercore ISI reduced their price target on Sunrun from $42.00 to $38.00 and set an outperform rating for the company in a research report on Wednesday. Oppenheimer increased their price objective on Sunrun from $19.00 to $22.00 and gave the company an outperform rating in a report on Wednesday. Susquehanna increased their price objective on Sunrun from $23.00 to $24.00 and gave the company a positive rating in a report on Monday, July 15th. Truist Financial reissued a hold rating and issued a $18.00 price objective (up previously from $12.00) on shares of Sunrun in a report on Wednesday. Finally, BMO Capital Markets increased their price objective on Sunrun from $17.00 to $20.00 and gave the company a market perform rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $22.69.

Sunrun Stock Down 5.0 %

NASDAQ:RUN traded down $0.94 during trading hours on Wednesday, reaching $17.89. 12,009,536 shares of the stock were exchanged, compared to its average volume of 14,786,885. Sunrun has a twelve month low of $8.43 and a twelve month high of $20.68. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.31 and a quick ratio of 0.99. The firm has a 50 day moving average of $14.90 and a 200 day moving average of $13.34. The stock has a market cap of $3.97 billion, a PE ratio of -2.68 and a beta of 2.61.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.43% and a negative net margin of 66.36%. The firm had revenue of $523.87 million during the quarter, compared to the consensus estimate of $516.76 million. During the same quarter in the prior year, the firm posted $0.25 EPS. The business’s revenue was down 11.2% on a year-over-year basis. On average, equities analysts expect that Sunrun will post -1.26 earnings per share for the current year.

Insider Buying and Selling

In other Sunrun news, insider Jeanna Steele sold 2,299 shares of Sunrun stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $14.44, for a total value of $33,197.56. Following the completion of the sale, the insider now directly owns 315,287 shares in the company, valued at $4,552,744.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Sunrun news, insider Jeanna Steele sold 2,299 shares of Sunrun stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $14.44, for a total value of $33,197.56. Following the completion of the sale, the insider now directly owns 315,287 shares in the company, valued at $4,552,744.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $16.93, for a total value of $846,500.00. Following the sale, the director now 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 have sold a total of 279,873 shares of company stock valued at $4,171,119 over the last ninety days. 3.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sunrun

Several hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its holdings in shares of Sunrun by 1.5% during the second quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock valued at $538,000 after acquiring an additional 691 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Sunrun by 76.9% during the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock valued at $35,000 after acquiring an additional 764 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Sunrun by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 272,010 shares of the energy company’s stock valued at $5,340,000 after acquiring an additional 833 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Sunrun by 6.0% during the second quarter. Crossmark Global Holdings Inc. now owns 15,690 shares of the energy company’s stock valued at $186,000 after buying an additional 895 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in shares of Sunrun by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 93,585 shares of the energy company’s stock valued at $1,837,000 after buying an additional 910 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

About Sunrun

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.