Several other equities research analysts also recently commented on the company. Roth Capital set a $24.00 price objective on Sunrun and gave the company a buy rating in a report on Thursday, May 23rd. Goldman Sachs Group upgraded Sunrun from a neutral rating to a buy rating and set a $20.00 price objective for the company in a report on Monday, June 17th. KeyCorp began coverage on Sunrun in a report on Monday, August 19th. They set an overweight rating and a $19.00 price objective for the company. Finally, Zacks Investment Research upgraded Sunrun from a strong sell rating to a hold rating in a report on Saturday, August 10th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $21.36.
NASDAQ RUN opened at $17.46 on Tuesday. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 75.91, a P/E/G ratio of 6.58 and a beta of 0.75. Sunrun has a 52 week low of $8.81 and a 52 week high of $21.42. The business has a 50 day moving average price of $16.22 and a 200-day moving average price of $16.54. The company has a quick ratio of 0.69, a current ratio of 0.83 and a debt-to-equity ratio of 1.68.
Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, August 7th. The energy company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.18). The firm had revenue of $204.60 million for the quarter, compared to the consensus estimate of $198.78 million. Sunrun had a negative net margin of 2.84% and a negative return on equity of 1.89%. The company’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. On average, equities research analysts anticipate that Sunrun will post 0.5 earnings per share for the current year.
In related news, major shareholder Tiger Global Management Llc purchased 259,491 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was acquired at an average price of $18.69 per share, for a total transaction of $4,849,886.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Christopher Dawson sold 8,190 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $20.04, for a total value of $164,127.60. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 5,774,118 shares of company stock valued at $93,615,522 and have sold 252,028 shares valued at $4,993,634. Corporate insiders own 9.34% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Sunrun by 4.3% during the second quarter. Vanguard Group Inc. now owns 8,455,994 shares of the energy company’s stock worth $158,635,000 after buying an additional 349,990 shares in the last quarter. BlackRock Inc. grew its holdings in Sunrun by 10.6% during the second quarter. BlackRock Inc. now owns 7,464,662 shares of the energy company’s stock worth $140,037,000 after buying an additional 716,227 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in Sunrun by 5.4% during the first quarter. Neuberger Berman Group LLC now owns 3,912,073 shares of the energy company’s stock worth $55,003,000 after buying an additional 200,636 shares in the last quarter. Bank of America Corp DE grew its holdings in Sunrun by 29.6% during the second quarter. Bank of America Corp DE now owns 1,895,559 shares of the energy company’s stock worth $35,561,000 after buying an additional 432,841 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Sunrun by 201.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,525,543 shares of the energy company’s stock worth $16,612,000 after buying an additional 1,019,554 shares in the last quarter. Institutional investors and hedge funds own 83.18% of the company’s stock.
Sunrun Company Profile
Sunrun Inc engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar energy systems and products, such as panels and racking, as well as solar leads generated to customers. The company markets and sells its products through direct-to-consumer approach across online, retail, mass media, digital media, canvassing, field marketing, and referral channels, as well as its partner network.
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