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 research report report published on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a $20.00 price target on the energy company’s stock.

RUN has been the topic of several other reports. Oppenheimer boosted their price target on shares of Sunrun from $19.00 to $22.00 and gave the stock an outperform rating in a research report on Wednesday, August 7th. Evercore ISI decreased their price objective on shares of Sunrun from $42.00 to $38.00 and set an outperform rating for the company in a research report on Wednesday, August 7th. Piper Sandler raised their target price on shares of Sunrun from $20.00 to $23.00 and gave the company an overweight rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on Sunrun from $19.00 to $22.00 and gave the stock an overweight rating in a research note on Wednesday, August 7th. Finally, Barclays upped their price objective 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $22.33.

Sunrun Trading Down 0.3 %

NASDAQ:RUN opened at $18.50 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 1.84. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of -2.77 and a beta of 2.59. The business’s 50-day moving average price is $18.73 and its two-hundred day moving average price is $14.66. Sunrun has a 1-year low of $8.43 and a 1-year high of $22.26.

Sunrun (NASDAQ:RUN) last posted its earnings results on Tuesday, August 6th. The energy company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.88. Sunrun had a negative return on equity of 2.41% and a negative net margin of 66.36%. 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 previous year, the firm earned $0.25 earnings per share. The company’s revenue was down 11.2% on a year-over-year basis. On average, equities analysts expect that Sunrun will post -0.16 earnings per share for the current year.

Insider Activity at Sunrun

In related news, Director Lynn Michelle Jurich sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $20.20, for a total value of $1,010,000.00. Following the transaction, the director now directly owns 1,192,446 shares of the company’s stock, valued at approximately $24,087,409.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Sunrun news, insider Jeanna Steele sold 24,161 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $19.24, for a total transaction of $464,857.64. Following the sale, the insider now owns 310,617 shares of the company’s stock, valued at approximately $5,976,271.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lynn Michelle Jurich sold 50,000 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $20.20, for a total value of $1,010,000.00. Following the sale, the director now directly owns 1,192,446 shares in the company, valued at approximately $24,087,409.20. The disclosure for this sale can be found here. Insiders have sold 178,675 shares of company stock valued at $3,253,289 over the last ninety days. Corporate insiders own 3.76% of the company’s stock.

Institutional Trading of Sunrun

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Sunrun by 14.0% during the 1st quarter. Vanguard Group Inc. now owns 22,325,106 shares of the energy company’s stock valued at $294,245,000 after buying an additional 2,743,148 shares in the last quarter. Greenvale Capital LLP boosted its stake in shares of Sunrun by 20.5% during the second quarter. Greenvale Capital LLP now owns 11,750,000 shares of the energy company’s stock valued at $139,355,000 after purchasing an additional 2,000,000 shares during the period. Robeco Schweiz AG increased its stake in shares of Sunrun by 23.5% in the first quarter. Robeco Schweiz AG now owns 4,611,300 shares of the energy company’s stock worth $60,777,000 after buying an additional 876,000 shares during the period. Dimensional Fund Advisors LP boosted its position in Sunrun by 20.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,385,218 shares of the energy company’s stock valued at $52,025,000 after buying an additional 729,633 shares during the period. Finally, Sylebra Capital LLC bought a new position in shares of Sunrun during the second quarter valued at about $35,387,000. Institutional investors own 91.69% of the company’s stock.

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.