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

Sunrun (NASDAQ:RUN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $6.75 price target on the energy company’s stock. Zacks Investment Research‘s price target points to a potential upside of 12.31% from the company’s current price.

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. “

Other research analysts have also issued research reports about the stock. BidaskClub lowered shares of Sunrun from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Bank of America started coverage on shares of Sunrun in a research note on Monday, November 6th. They issued a “buy” rating on the stock. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $10.00 target price on shares of Sunrun in a research note on Thursday, November 9th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Sunrun currently has a consensus rating of “Buy” and a consensus price target of $7.95.

Shares of Sunrun (NASDAQ RUN) opened at $6.01 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.72 and a debt-to-equity ratio of 0.89. Sunrun has a fifty-two week low of $4.21 and a fifty-two week high of $7.78. The firm has a market cap of $640.72 and a PE ratio of 6.83.

Sunrun (NASDAQ:RUN) last issued its quarterly earnings data on Wednesday, November 8th. The energy company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.11. Sunrun had a net margin of 18.79% and a return on equity of 9.25%. The firm had revenue of $141.29 million for the quarter, compared to analyst estimates of $146.56 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The company’s revenue was up 26.1% on a year-over-year basis. research analysts expect that Sunrun will post 0.64 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in Sunrun by 16,313.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 142,633 shares of the energy company’s stock worth $1,016,000 after buying an additional 141,764 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in shares of Sunrun by 20.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 275,620 shares of the energy company’s stock valued at $1,963,000 after purchasing an additional 47,082 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Sunrun by 31.0% in the second quarter. Northern Trust Corp now owns 872,704 shares of the energy company’s stock valued at $6,214,000 after purchasing an additional 206,421 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Sunrun by 21.0% in the second quarter. California State Teachers Retirement System now owns 150,626 shares of the energy company’s stock valued at $1,072,000 after purchasing an additional 26,100 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Sunrun by 20.5% in the second quarter. Swiss National Bank now owns 112,350 shares of the energy company’s stock valued at $800,000 after purchasing an additional 19,100 shares during 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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