Sunrun Inc. (NASDAQ:RUN) has earned an average recommendation of “Buy” from the twelve ratings firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $10.24.
Several brokerages have recently commented on RUN. Bank of America Corporation reaffirmed a “neutral” rating and set a $8.00 target price (up from $7.75) on shares of Sunrun in a report on Thursday. BidaskClub cut shares of Sunrun from a “strong-buy” rating to a “buy” rating in a report on Friday. Zacks Investment Research cut shares of Sunrun from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays PLC lifted their price objective on shares of Sunrun from $6.00 to $8.00 and gave the company an “overweight” rating in a research note on Tuesday, August 8th. Finally, Goldman Sachs Group, Inc. (The) set a $10.00 price objective on shares of Sunrun and gave the company a “buy” rating in a research note on Tuesday, June 20th.
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In other Sunrun news, Chairman Edward Harris Fenster sold 115,094 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $6.82, for a total transaction of $784,941.08. Following the sale, the chairman now owns 2,371,439 shares of the company’s stock, valued at $16,173,213.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 24.13% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Atlantic Trust Group LLC acquired a new position in shares of Sunrun during the first quarter worth approximately $1,645,000. SG Americas Securities LLC raised its position in shares of Sunrun by 59.1% in the first quarter. SG Americas Securities LLC now owns 63,172 shares of the energy company’s stock worth $341,000 after buying an additional 23,476 shares during the period. Trexquant Investment LP raised its position in shares of Sunrun by 31.9% in the first quarter. Trexquant Investment LP now owns 61,475 shares of the energy company’s stock worth $332,000 after buying an additional 14,859 shares during the period. Parametric Portfolio Associates LLC acquired a new position in shares of Sunrun during the first quarter worth approximately $458,000. Finally, UBS Asset Management Americas Inc. raised its position in shares of Sunrun by 155.8% in the first quarter. UBS Asset Management Americas Inc. now owns 43,486 shares of the energy company’s stock worth $235,000 after buying an additional 26,486 shares during the period. Institutional investors own 71.63% of the company’s stock.
Shares of Sunrun (NASDAQ:RUN) opened at 6.82 on Tuesday. The stock has a 50 day moving average price of $7.11 and a 200 day moving average price of $5.78. The company has a market capitalization of $724.02 million, a price-to-earnings ratio of 8.75 and a beta of -0.69. Sunrun has a 1-year low of $4.15 and a 1-year high of $7.64.
Sunrun (NASDAQ:RUN) last announced its earnings results on Monday, August 7th. The energy company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Sunrun had a net margin of 17.65% and a return on equity of 8.76%. The company had revenue of $137.85 million for the quarter, compared to analysts’ expectations of $143.35 million. During the same period last year, the firm earned $0.31 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Analysts forecast that Sunrun will post $1.05 earnings per share for the current year.
Sunrun Company Profile
Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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