Sunrun (NASDAQ:RUN) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Sunrun (NASDAQ:RUN) from a hold rating to a buy rating in a research note released on Tuesday, BidAskClub reports.

A number of other equities research analysts also recently commented on RUN. Goldman Sachs Group raised Sunrun from a neutral rating to a buy rating and set a $20.00 price objective for the company in a research report on Monday, June 17th. Zacks Investment Research raised Sunrun from a strong sell rating to a hold rating in a research report on Saturday, August 10th. KeyCorp initiated coverage on Sunrun in a research report on Monday, August 19th. They issued an overweight rating and a $19.00 price objective for the company. Finally, Roth Capital set a $24.00 price objective on Sunrun and gave the company a buy rating in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Sunrun currently has an average rating of Buy and an average price target of $21.36.

Sunrun stock opened at $17.30 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.83 and a quick ratio of 0.69. The stock has a fifty day moving average of $16.18 and a two-hundred day moving average of $16.55. Sunrun has a fifty-two week low of $8.81 and a fifty-two week high of $21.42.

Sunrun (NASDAQ:RUN) last released its quarterly earnings results on Wednesday, August 7th. The energy company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.18). The company had revenue of $204.60 million for the quarter, compared to analysts’ expectations of $198.78 million. Sunrun had a negative return on equity of 1.89% and a negative net margin of 2.84%. The business’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.06 EPS. Research analysts predict that Sunrun will post 0.5 earnings per share for the current year.

In other Sunrun news, General Counsel Jeanna Steele sold 1,700 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $17.43, for a total transaction of $29,631.00. Following the completion of the sale, the general counsel now owns 105,020 shares of the company’s stock, valued at $1,830,498.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Tiger Global Management Llc purchased 117,637 shares of the stock in a transaction on Thursday, September 19th. The shares were purchased at an average cost of $17.48 per share, with a total value of $2,056,294.76. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 5,774,118 shares of company stock valued at $93,615,522 and sold 255,099 shares valued at $5,047,161. 9.34% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the business. BSW Wealth Partners purchased a new stake in Sunrun during the second quarter valued at about $114,000. Hershey Trust Co. purchased a new stake in Sunrun during the second quarter valued at about $126,000. Rehmann Capital Advisory Group grew its position in Sunrun by 222.9% during the first quarter. Rehmann Capital Advisory Group now owns 12,235 shares of the energy company’s stock valued at $172,000 after acquiring an additional 8,446 shares during the period. Commonwealth Equity Services LLC purchased a new stake in Sunrun during the second quarter valued at about $224,000. Finally, Bank of Montreal Can grew its position in Sunrun by 301.5% during the second quarter. Bank of Montreal Can now owns 12,977 shares of the energy company’s stock valued at $243,000 after acquiring an additional 9,745 shares during the period. 83.18% of the stock is owned by hedge funds and other institutional investors.

About Sunrun

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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Analyst Recommendations for Sunrun (NASDAQ:RUN)

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