The Goldman Sachs Group Reaffirms Buy Rating for Sunrun (NASDAQ:RUN)

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

RUN has been the subject of several other research reports. Evercore ISI decreased their target price on Sunrun from $42.00 to $38.00 and set an outperform rating for the company in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on Sunrun from $19.00 to $22.00 and gave the stock an overweight rating in a research report on Wednesday, August 7th. Oppenheimer raised their target price on Sunrun from $19.00 to $22.00 and gave the stock an outperform rating in a research report on Wednesday, August 7th. Barclays raised their price target on Sunrun from $16.00 to $19.00 and gave the company an equal weight rating in a report on Tuesday, July 23rd. Finally, Piper Sandler boosted their target price on shares of Sunrun from $20.00 to $23.00 and gave the stock an overweight rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $22.33.

Sunrun Trading Down 0.3 %

Sunrun stock opened at $18.50 on Wednesday. Sunrun has a 12 month low of $8.43 and a 12 month high of $22.26. The company’s fifty day simple moving average is $18.73 and its 200-day simple moving average is $14.63. The company has a quick ratio of 1.31, a current ratio of 1.66 and a debt-to-equity ratio of 1.84. The stock has a market cap of $4.14 billion, a P/E ratio of -2.77 and a beta of 2.59.

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

Insider Activity

In related news, insider Jeanna Steele sold 2,513 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $12.61, for a total value of $31,688.93. Following the completion of the transaction, the insider now directly owns 312,774 shares of the company’s stock, valued at approximately $3,944,080.14. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Jeanna Steele sold 2,513 shares of Sunrun stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $12.61, for a total value of $31,688.93. Following the sale, the insider now directly owns 312,774 shares in the company, valued at $3,944,080.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lynn Michelle Jurich sold 1,937 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 1,242,446 shares of the company’s stock, valued at $22,649,790.58. The disclosure for this sale can be found here. Insiders have sold 178,675 shares of company stock worth $3,253,289 in the last 90 days. Corporate insiders own 3.76% of the company’s stock.

Hedge Funds Weigh In On Sunrun

Institutional investors and hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Sunrun by 4.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 582,217 shares of the energy company’s stock worth $6,905,000 after acquiring an additional 22,779 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Sunrun in the second quarter valued at about $104,000. Sanctuary Advisors LLC bought a new stake in shares of Sunrun in the 2nd quarter valued at $2,174,000. Cetera Investment Advisers lifted its holdings in Sunrun by 5.1% in the second quarter. Cetera Investment Advisers now owns 100,017 shares of the energy company’s stock valued at $1,186,000 after buying an additional 4,840 shares during the period. Finally, Granite Bay Wealth Management LLC bought a new stake in Sunrun in the second quarter worth approximately $525,000. 91.69% of the stock is currently owned by institutional investors and hedge funds.

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.