Value Hunters: Look To Sunrun Inc. (RUN)

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BlackRock Fund Advisors recently announced the acquisition of new stake in Sunrun Inc. (NASDAQ:RUN). The institutional investor has increased its shareholding in the Technology company by 85.56% to 13.19 million shares with purchase of 6.08 million shares. This fresh investment now brings its stake to 10.96% valued currently at $260.04 million. In addition, The Vanguard Group, Inc. raised its holdings by 1.14 million to 8.47 million shares. And Neuberger Berman Investment Advis. has lifted its position by 23.84% or 1.29 million shares – to 6.68 million shares.

With over 4.44 million Sunrun Inc. (RUN) shares trading Thursday and a closing price of $36.67 on the day, the dollar volume was approximately $162.85 million. The shares have shown a negative weekly performance of -13.64% and its price on 07/30/20 gained nearly 0.18%. Currently, there are 119.22M common shares owned by the public and among those 115.96M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for RUN have a consensus price objective of $35.33. The analysts have set the share’s price value over the next 12 months at a high of $50.00 and a low of $23.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Sunrun Inc. stock is 1.90 for the next 12 months. The average price target is -3.79% below its last price level and a downside to the estimated low will see the stock lose -59.43% over that period. But an upside of 26.66% will see the stock hit the forecast high price target while mean target price for the stock is $32.00.

Insiders at the company have transacted a total of 197 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 83 of these insider trades were purchases, accounting for 8,726,449 shares. Insider sales of the common stock occurred on 114 occasions, with total insider shares sold totaling 1,920,373 shares.

The top 3 mutual fund holders in Sunrun Inc. are iShares Core S&P Small Cap ETF, Fidelity VIP – Mid Cap Portfolio, and iShares Russell 2000 ETF. iShares Core S&P Small Cap ETF owns 4.91 million shares of the company’s stock, all valued at over $96.73 million. iShares Russell 2000 ETF sold 60759.0 shares to bring its total holdings to over 2.39 million shares at a value of $47.2 million. iShares Russell 2000 ETF now owns shares totaling to 1.99% of the shares outstanding.

Shares of Sunrun Inc. (NASDAQ: RUN) opened at $37.51, up $0.91 from a prior closing price of $36.60. However, the script later closed the day at $36.67, up 0.18%. The company’s stock has a 5-day price change of -13.64% and 161.37% over the past three months. RUN shares are trading 165.53% year to date (YTD), with the 12-month market performance up to 92.49% higher. It has a 12-month low price of $7.84 and touched a high of $43.18 over the same period. Currently, 4.44 million shares have been traded, compared to an average intraday trading volume of 3.28 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.08%, 50.91%, and 112.30% respectively.

Institutional ownership of Sunrun Inc. (NASDAQ: RUN) shares accounts for 95.60% of the company’s 119.22M shares outstanding. Mutual fund holders own 44.54%, while other institutional holders and individual stakeholders account for 49.12% and 41.69% respectively.

It has a market capitalization of $4.65B and a beta (3y monthly) value of 1.78. The stock’s trailing 12-month PE ratio is 426.40, while the earnings-per-share (ttm) stands at $0.09. The company has a PEG of 23.02 and a Quick Ratio of 0.90 with the debt-to-equity ratio at 3.21. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.77% over the week and 7.96% over the month.

Analysts forecast that Sunrun Inc. (RUN) will achieve an EPS of $0.16 for the current quarter, $0.22 for the next quarter and $0.79 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.13 while analysts give the company a high EPS estimate of $1.12. Comparatively, EPS for the current quarter was -$0.01 a year ago. Earnings per share for the fiscal year are expected to decrease by -6.60%, and 941.98% over the next financial year. EPS should grow at an annualized rate of 18.52% over the next five years, compared to 18.00% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Sunrun Inc. (RUN) as a “Strong Buy” at a consensus score of 1.90. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 1 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the RUN, a number of firms have released research notes about the stock. KeyBanc Capital Markets stated their Overweight rating for the stock in a research note on July 13, 2020, with the firm’s price target at $32. KeyBanc Capital Markets coverage for the Sunrun Inc. (RUN) stock in a research note released on February 19, 2020 offered a Sector Weight rating with a price target of. JP Morgan was of a view on January 16, 2020 that the stock is Overweight, while KeyBanc Capital Markets gave the stock Overweight rating on August 20, 2019, issuing a price target of $19. Goldman on their part issued Buy rating on June 18, 2019.

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