Sunrun (NASDAQ:RUN) Earns “Buy” Rating from The Goldman Sachs Group

The Goldman Sachs Group restated their buy rating on shares of Sunrun (NASDAQ:RUN) in a report issued on Wednesday, Benzinga reports. The brokerage currently has a $20.00 price target on the energy company’s stock.

Other equities research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Sunrun from $12.00 to $16.50 and gave the stock a hold rating in a report on Thursday, August 8th. StockNews.com raised Sunrun to a sell rating in a research report on Thursday, August 8th. Barclays boosted their target price on shares of Sunrun from $16.00 to $19.00 and gave the company an equal weight rating in a research report on Tuesday, July 23rd. Oppenheimer upped their price objective on Sunrun from $19.00 to $22.00 and gave the stock an outperform rating in a research note on Wednesday, August 7th. Finally, Piper Sandler upped their price target on Sunrun from $20.00 to $23.00 and gave the stock an overweight rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $22.33.

Sunrun Trading Down 0.3 %

NASDAQ:RUN opened at $18.50 on Wednesday. The company’s 50-day simple moving average is $18.73 and its 200 day simple moving average is $14.66. Sunrun has a one year low of $8.43 and a one year high of $22.26. The firm has a market capitalization of $4.14 billion, a P/E ratio of -2.77 and a beta of 2.59. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.66 and a quick ratio of 1.31.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.88. The firm had revenue of $523.87 million during the quarter, compared to analyst estimates of $516.76 million. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. Sunrun’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS. As a group, analysts forecast that Sunrun will post -0.16 EPS for the current fiscal year.

Insider Transactions at Sunrun

In related news, CFO Danny Abajian sold 4,662 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $12.62, for a total transaction of $58,834.44. Following the completion of the sale, the chief financial officer now directly owns 283,098 shares in the company, valued at approximately $3,572,696.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Sunrun news, Director Lynn Michelle Jurich sold 1,937 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $18.23, for a total transaction of $35,311.51. Following the sale, the director now owns 1,242,446 shares of the company’s stock, valued at approximately $22,649,790.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Danny Abajian sold 4,662 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 283,098 shares in the company, valued at $3,572,696.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,675 shares of company stock valued at $3,253,289. Company insiders own 3.76% of the company’s stock.

Hedge Funds Weigh In On Sunrun

A number of institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. increased its holdings in shares of Sunrun by 1.5% during the 2nd quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock valued at $538,000 after purchasing an additional 691 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Sunrun by 6.0% in the second quarter. Crossmark Global Holdings Inc. now owns 15,690 shares of the energy company’s stock valued at $186,000 after purchasing an additional 895 shares during the period. Treasurer of the State of North Carolina lifted its stake in Sunrun by 1.0% in the 4th 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 in the last quarter. &PARTNERS increased its stake in Sunrun by 1.6% during the 2nd quarter. &PARTNERS now owns 63,244 shares of the energy company’s stock worth $698,000 after buying an additional 1,019 shares in the last quarter. Finally, United Services Automobile Association boosted its stake in shares of Sunrun by 6.3% in the second quarter. United Services Automobile Association now owns 17,631 shares of the energy company’s stock worth $209,000 after acquiring an additional 1,042 shares during the last quarter. 91.69% of the stock is owned by hedge funds and other institutional investors.

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.