Sunrun (RUN) Rating Increased to Strong-Buy at Zacks Investment Research

Sunrun (NASDAQ:RUN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Saturday. The brokerage presently has a $6.75 price target on the energy company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 13.64% from the stock’s current price.

According to Zacks, “Sunrun Inc. develops, owns, manages and sells residential solar energy systems. The Company provides solar service offerings through channels consists of direct-to-consumer channel, solar partner channel and strategic partnership channel. It also develops and sells mounting structures through the installation and distribution operations under the SnapNrack brand. The Company operates primarily in Arizona, California, Delaware, Colorado, Connecticut, Hawaii, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New York, Oregon, Pennsylvania and South Carolina, as well as the District of Columbia. Sunrun Inc. is headquartered in San Francisco, California. “

Several other equities analysts have also recently issued reports on the company. BidaskClub cut Sunrun from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Bank of America initiated coverage on Sunrun in a report on Monday, November 6th. They set a “buy” rating for the company. Finally, Oppenheimer reaffirmed a “buy” rating and set a $10.00 price objective on shares of Sunrun in a report on Thursday, November 9th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Sunrun presently has a consensus rating of “Buy” and an average target price of $7.95.

Shares of Sunrun (NASDAQ:RUN) opened at $5.94 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.72 and a debt-to-equity ratio of 0.89. Sunrun has a 12 month low of $4.21 and a 12 month high of $7.78. The firm has a market capitalization of $637.34, a P/E ratio of 6.83, a P/E/G ratio of 0.15 and a beta of -0.70.

Sunrun (NASDAQ:RUN) last posted its quarterly earnings results on Wednesday, November 8th. The energy company reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.11. Sunrun had a return on equity of 9.25% and a net margin of 18.79%. The firm had revenue of $141.29 million for the quarter, compared to the consensus estimate of $146.56 million. During the same period in the previous year, the business earned $0.16 earnings per share. The company’s revenue for the quarter was up 26.1% compared to the same quarter last year. research analysts anticipate that Sunrun will post 0.95 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its holdings in shares of Sunrun by 20.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 275,620 shares of the energy company’s stock worth $1,963,000 after acquiring an additional 47,082 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Sunrun by 18.4% in the second quarter. First Trust Advisors LP now owns 109,522 shares of the energy company’s stock worth $780,000 after acquiring an additional 16,996 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Sunrun by 49.9% in the second quarter. Rhumbline Advisers now owns 98,976 shares of the energy company’s stock worth $705,000 after acquiring an additional 32,942 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Sunrun by 26.0% in the second quarter. Bank of New York Mellon Corp now owns 475,414 shares of the energy company’s stock worth $3,384,000 after acquiring an additional 98,008 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Sunrun by 16.3% in the second quarter. Legal & General Group Plc now owns 19,795 shares of the energy company’s stock worth $141,000 after acquiring an additional 2,768 shares during the last quarter. 77.65% of the stock is owned by hedge funds and other institutional investors.

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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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