Sunrun Inc. (RUN) Receives New Coverage from Analysts at JMP Securities

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Equities researchers at JMP Securities started coverage on shares of Sunrun Inc. (NASDAQ:RUN) in a research report issued on Thursday. The firm set an “outperform” rating and a $8.50 price target on the stock. JMP Securities’ target price suggests a potential upside of 40.26% from the company’s current price.
RUN has been the subject of several other research reports. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $9.00 price objective (up previously from $8.00) on shares of Sunrun in a research note on Monday, August 15th. Deutsche Bank AG reissued a “buy” rating and issued a $15.00 price objective on shares of Sunrun in a research note on Monday, August 15th. Zacks Investment Research raised shares of Sunrun from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a research note on Tuesday, August 2nd. Finally, Barclays PLC reissued an “equal weight” rating and issued a $7.00 price objective on shares of Sunrun in a research note on Tuesday, June 21st. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $11.32.
Sunrun (NASDAQ:RUN) traded down 2.10% during mid-day trading on Thursday, hitting $6.06. The company had a trading volume of 898,332 shares. The firm has a market capitalization of $624.62 million and a PE ratio of 183.64. The company has a 50 day moving average of $5.69 and a 200 day moving average of $6.17. Sunrun has a 1-year low of $4.86 and a 1-year high of $14.95.

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Sunrun (NASDAQ:RUN) last announced its quarterly earnings data on Thursday, August 11th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.71. The business earned $122.50 million during the quarter, compared to the consensus estimate of $111.15 million. Sunrun had a net margin of 6.94% and a return on equity of 3.30%. The firm’s quarterly revenue was up 68.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 earnings per share. Analysts predict that Sunrun will post ($0.59) earnings per share for the current fiscal year.
In related news, major shareholder William B. Elmore sold 52,531 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $5.49, for a total value of $288,395.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder William B. Elmore sold 27,384 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $6.06, for a total transaction of $165,947.04. The disclosure for this sale can be found here. 42.19% of the stock is currently owned by corporate insiders.
A number of institutional investors have modified their holdings of the company. Sage Financial Group Inc. acquired a new position in shares of Sunrun during the second quarter worth approximately $3,303,000. Hamilton Lane Advisors LLC purchased a new position in Sunrun during the second quarter valued at about $641,000. DNB Asset Management AS raised its position in Sunrun by 22.8% in the second quarter. DNB Asset Management AS now owns 3,264,301 shares of the company’s stock valued at $19,357,000 after buying an additional 606,153 shares in the last quarter. Robecosam AG raised its position in Sunrun by 113.5% in the first quarter. Robecosam AG now owns 768,000 shares of the company’s stock valued at $4,969,000 after buying an additional 408,243 shares in the last quarter. Finally, Quentec Asset Management LLC raised its position in Sunrun by 114.0% in the first quarter. Quentec Asset Management LLC now owns 2,506,860 shares of the company’s stock valued at $16,244,000 after buying an additional 1,335,487 shares in the last quarter. 67.06% of the stock is owned by institutional investors.
About Sunrun
Sunrun Inc (Sunrun) 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. Sunrun has over 111,000 customers across 15 states, as well as the District of Columbia.

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