Sunrun (RUN) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Sunrun (NASDAQ:RUN) from a hold rating to a buy rating in a report issued on Thursday, January 4th. They currently have $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. “

A number of other research analysts have also issued reports on the company. Oppenheimer reiterated a buy rating and set a $10.00 price target on shares of Sunrun in a research report on Thursday, November 9th. Bank of America started coverage on Sunrun in a research note on Monday, November 6th. They issued a buy rating on the stock. Finally, BidaskClub raised Sunrun from a sell rating to a hold rating in a research note on Tuesday, October 31st. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $7.95.

Shares of Sunrun (NASDAQ RUN) opened at $5.92 on Thursday. Sunrun has a twelve month low of $4.21 and a twelve month high of $7.78. The firm has a market capitalization of $632.18 and a P/E ratio of 6.73. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.72 and a quick ratio of 0.60.

Sunrun (NASDAQ:RUN) last released its quarterly earnings data on Wednesday, November 8th. The energy company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.11. Sunrun had a return on equity of 9.25% and a net margin of 18.79%. The business had revenue of $141.29 million during the quarter, compared to analyst estimates of $146.56 million. During the same quarter in the previous year, the firm posted $0.16 EPS. The business’s revenue for the quarter was up 26.1% compared to the same quarter last year. sell-side analysts predict that Sunrun will post 0.64 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Suntrust Banks Inc. bought a new stake in shares of Sunrun during the 2nd quarter worth about $112,000. Russell Investments Group Ltd. bought a new stake in shares of Sunrun during the 3rd quarter worth about $123,000. Citigroup Inc. boosted its stake in shares of Sunrun by 760.3% during the 2nd quarter. Citigroup Inc. now owns 18,678 shares of the energy company’s stock worth $133,000 after acquiring an additional 16,507 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Sunrun by 16.3% during the 2nd quarter. Legal & General Group Plc now owns 19,795 shares of the energy company’s stock worth $141,000 after acquiring an additional 2,768 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd boosted its stake in shares of Sunrun by 30.0% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 22,241 shares of the energy company’s stock worth $159,000 after acquiring an additional 5,134 shares in the last quarter. Hedge funds and other institutional investors own 77.65% of the company’s stock.

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About Sunrun

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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