Sunrun (NASDAQ:RUN) Stock Rating Reaffirmed by Truist Financial

Sunrun (NASDAQ:RUN)‘s stock had its “hold” rating restated by equities research analysts at Truist Financial in a report released on Wednesday, Benzinga reports. They presently have a $18.00 price target on the energy company’s stock, up from their prior price target of $12.00. Truist Financial’s price target suggests a potential downside of 1.64% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Oppenheimer upped their target price on shares of Sunrun from $19.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays upped their target price on shares of Sunrun from $16.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Susquehanna upped their target price on shares of Sunrun from $23.00 to $24.00 and gave the company a “positive” rating in a report on Monday, July 15th. Mizuho dropped their target price on shares of Sunrun from $28.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Finally, JPMorgan Chase & Co. upped their target price on shares of Sunrun from $14.00 to $19.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Seven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Sunrun currently has an average rating of “Moderate Buy” and an average price target of $21.95.

Sunrun Stock Up 11.0 %

Shares of NASDAQ:RUN traded up $1.81 during midday trading on Wednesday, hitting $18.30. 3,816,462 shares of the stock were exchanged, compared to its average volume of 13,404,210. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.99 and a current ratio of 1.31. Sunrun has a 52-week low of $8.43 and a 52-week high of $20.68. The business’s fifty day simple moving average is $14.64 and its two-hundred day simple moving average is $13.24. The company has a market capitalization of $4.06 billion, a PE ratio of -2.69 and a beta of 2.61.

Sunrun (NASDAQ:RUN) last posted its earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.81. The company had revenue of $523.87 million for the quarter, compared to analyst estimates of $516.76 million. Sunrun had a negative return on equity of 3.58% and a negative net margin of 68.22%. The business’s revenue was down 11.2% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. As a group, research analysts predict that Sunrun will post -1.25 earnings per share for the current fiscal year.

Insider Activity

In other news, CRO Paul S. Dickson sold 2,486 shares of Sunrun stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $14.43, for a total value of $35,872.98. Following the completion of the sale, the executive now directly owns 447,184 shares in the company, valued at $6,452,865.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Sunrun news, Director Lynn Michelle Jurich sold 50,000 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $14.06, for a total transaction of $703,000.00. Following the sale, the director now owns 1,395,297 shares of the company’s stock, valued at $19,617,875.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Paul S. Dickson sold 2,486 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $14.43, for a total transaction of $35,872.98. Following the sale, the executive now directly owns 447,184 shares in the company, valued at approximately $6,452,865.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 255,712 shares of company stock worth $3,706,261. Corporate insiders own 3.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RUN. Victory Capital Management Inc. grew its holdings in Sunrun by 1.5% in the 2nd quarter. Victory Capital Management Inc. now owns 45,374 shares of the energy company’s stock worth $538,000 after acquiring an additional 691 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of Sunrun by 76.9% during the fourth quarter. Fifth Third Bancorp now owns 1,758 shares of the energy company’s stock worth $35,000 after acquiring an additional 764 shares during the last quarter. Retirement Systems of Alabama raised its stake in Sunrun by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 272,010 shares of the energy company’s stock valued at $5,340,000 after purchasing an additional 833 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Sunrun by 6.0% during 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 in the last quarter. Finally, Treasurer of the State of North Carolina raised its stake in Sunrun by 1.0% during the fourth 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 purchasing an additional 910 shares in the last quarter. 91.69% of the stock is owned by 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.