The Goldman Sachs Group Issues Positive Forecast for Sunrun (NASDAQ:RUN) Stock Price

Sunrun (NASDAQ:RUN) had its price objective upped by The Goldman Sachs Group from $12.00 to $15.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the energy company’s stock.

RUN has been the subject of several other reports. UBS Group reaffirmed a “buy” rating and issued a $17.00 price objective on shares of Sunrun in a report on Wednesday, May 14th. JPMorgan Chase & Co. reduced their price target on Sunrun from $22.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Barclays dropped their price objective on Sunrun from $18.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Morgan Stanley reiterated an “equal weight” rating and set a $11.00 price target on shares of Sunrun in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada cut their price objective on shares of Sunrun from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $14.92.

Sunrun Stock Performance

NASDAQ:RUN opened at $11.29 on Monday. The company has a market capitalization of $2.58 billion, a P/E ratio of -6.20 and a beta of 2.66. The business has a fifty day simple moving average of $7.38 and a two-hundred day simple moving average of $8.87. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.47 and a quick ratio of 1.15. Sunrun has a 1 year low of $5.45 and a 1 year high of $22.26.

Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Wednesday, May 7th. The energy company reported $0.20 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.42. The company had revenue of $504.27 million during the quarter, compared to analyst estimates of $487.29 million. Sunrun had a negative return on equity of 5.15% and a negative net margin of 18.80%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.40) EPS. On average, analysts expect that Sunrun will post -0.43 earnings per share for the current year.

Insider Transactions at Sunrun

In other Sunrun news, CRO Paul S. Dickson sold 19,343 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $6.74, for a total value of $130,371.82. Following the completion of the sale, the executive now directly owns 399,729 shares of the company’s stock, valued at $2,694,173.46. The trade was a 4.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeanna Steele sold 9,942 shares of the company’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $6.74, for a total transaction of $67,009.08. Following the sale, the insider now owns 291,238 shares of the company’s stock, valued at approximately $1,962,944.12. The trade was a 3.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 138,540 shares of company stock worth $1,050,944. 3.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sunrun

Hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. purchased a new position in Sunrun in the 3rd quarter worth approximately $896,000. SG Americas Securities LLC grew its holdings in shares of Sunrun by 40.4% in the fourth quarter. SG Americas Securities LLC now owns 74,893 shares of the energy company’s stock worth $693,000 after purchasing an additional 21,533 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Sunrun in the fourth quarter worth $118,000. Union Bancaire Privee UBP SA bought a new stake in Sunrun during the 4th quarter valued at $56,000. Finally, Ridgecrest Wealth Partners LLC grew its holdings in Sunrun by 11.0% in the 4th quarter. Ridgecrest Wealth Partners LLC now owns 80,000 shares of the energy company’s stock worth $740,000 after acquiring an additional 7,929 shares during the last quarter. Institutional investors own 91.69% of the company’s stock.

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.