Zacks Investment Research upgraded shares of Sunrun (NASDAQ:RUN) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. Zacks Investment Research currently has $6.75 price objective on the energy company’s stock.
According to Zacks, “Sunrun Inc. develops, owns, manages and sells residential solar energy systems. The Company provides solar service offerings through channels consists of direct-to-consumer channel, solar partner channel and strategic partnership channel. It also develops and sells mounting structures through the installation and distribution operations under the SnapNrack brand. The Company operates primarily in Arizona, California, Delaware, Colorado, Connecticut, Hawaii, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New York, Oregon, Pennsylvania and South Carolina, as well as the District of Columbia. Sunrun Inc. is headquartered in San Francisco, California. “
Several other equities research analysts also recently commented on RUN. BidaskClub downgraded Sunrun from a hold rating to a sell rating in a report on Tuesday, October 10th. Oppenheimer reiterated a buy rating and set a $10.00 target price on shares of Sunrun in a report on Thursday, November 9th. Finally, Bank of America assumed coverage on Sunrun in a report on Monday, November 6th. They set a buy rating on the stock. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $7.95.
Shares of Sunrun (NASDAQ:RUN) traded up $0.04 during trading hours on Thursday, hitting $6.05. The company had a trading volume of 466,716 shares, compared to its average volume of 907,825. The stock has a market cap of $646.06 and a P/E ratio of 6.88. The company has a current ratio of 0.72, a quick ratio of 0.60 and a debt-to-equity ratio of 0.89. Sunrun has a 1-year low of $4.21 and a 1-year high of $7.78.
Sunrun (NASDAQ:RUN) last announced its earnings results on Wednesday, November 8th. The energy company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.14 by $0.11. The business had revenue of $141.29 million for the quarter, compared to the consensus estimate of $146.56 million. Sunrun had a return on equity of 9.25% and a net margin of 18.79%. The company’s revenue was up 26.1% on a year-over-year basis. During the same period last year, the business posted $0.16 EPS. equities research analysts expect that Sunrun will post 0.64 EPS for the current year.
A number of hedge funds have recently bought and sold shares of the business. FMR LLC increased its holdings in Sunrun by 0.8% during the 2nd quarter. FMR LLC now owns 15,816,308 shares of the energy company’s stock worth $112,612,000 after purchasing an additional 125,000 shares during the last quarter. Vanguard Group Inc. increased its holdings in Sunrun by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 5,853,579 shares of the energy company’s stock worth $41,677,000 after purchasing an additional 369,721 shares during the last quarter. Quentec Asset Management LLC increased its holdings in Sunrun by 1.6% during the 2nd quarter. Quentec Asset Management LLC now owns 5,216,058 shares of the energy company’s stock worth $37,139,000 after purchasing an additional 82,693 shares during the last quarter. State Street Corp increased its holdings in Sunrun by 22.7% during the 2nd quarter. State Street Corp now owns 1,628,766 shares of the energy company’s stock worth $11,596,000 after purchasing an additional 300,923 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. increased its holdings in Sunrun by 136.7% during the 3rd quarter. Uniplan Investment Counsel Inc. now owns 1,379,779 shares of the energy company’s stock worth $7,657,000 after purchasing an additional 796,912 shares during the last quarter. Institutional investors own 77.65% of the company’s stock.
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Sunrun Inc is engaged in the design, development, installation, sale, ownership and maintenance of residential solar energy systems (Projects) in the United States. The Company is engaged in providing solar energy services and products to its customers. As of December 31, 2016, it operated a fleet of residential solar energy systems in the United States, with approximately 134,000 customers across 16 states, as well as the District of Columbia.
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