Generac (NYSE:GNRC) Price Target Raised to $200.00

Generac (NYSE:GNRC) had its price objective boosted by research analysts at Piper Sandler from $190.00 to $200.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price target would suggest a potential upside of 5.78% from the stock’s previous close.

A number of other brokerages also recently issued reports on GNRC. Robert W. Baird dropped their price target on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Stifel Nicolaus boosted their price target on shares of Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. StockNews.com upgraded shares of Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Scotiabank upped their target price on shares of Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a research report on Monday, July 29th. Finally, Roth Mkm increased their target price on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Generac currently has an average rating of “Moderate Buy” and an average target price of $174.58.

Generac Price Performance

Shares of NYSE:GNRC opened at $189.08 on Friday. The company has a 50 day moving average of $168.12 and a 200 day moving average of $153.44. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The stock has a market cap of $11.25 billion, a P/E ratio of 39.23, a P/E/G ratio of 2.25 and a beta of 1.37. Generac has a 12 month low of $108.89 and a 12 month high of $195.94.

Generac (NYSE:GNRC) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.27. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.64 earnings per share. As a group, sell-side analysts forecast that Generac will post 6.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $166.60, for a total value of $833,000.00. Following the completion of the sale, the chief executive officer now owns 557,177 shares in the company, valued at approximately $92,825,688.20. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total value of $585,069.46. Following the transaction, the executive vice president now directly owns 10,738 shares in the company, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock valued at $7,584,853 in the last quarter. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Generac

Institutional investors and hedge funds have recently modified their holdings of the stock. Morse Asset Management Inc increased its position in shares of Generac by 2.4% during the third quarter. Morse Asset Management Inc now owns 6,084 shares of the technology company’s stock valued at $967,000 after buying an additional 145 shares during the period. Diamant Asset Management Inc. grew its holdings in shares of Generac by 11.7% during the 3rd quarter. Diamant Asset Management Inc. now owns 3,810 shares of the technology company’s stock worth $605,000 after acquiring an additional 400 shares during the period. Coldstream Capital Management Inc. purchased a new position in shares of Generac during the 3rd quarter worth approximately $203,000. First Dallas Securities Inc. raised its position in shares of Generac by 14.4% in the 3rd quarter. First Dallas Securities Inc. now owns 27,475 shares of the technology company’s stock worth $4,365,000 after acquiring an additional 3,450 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its stake in shares of Generac by 5.6% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 385,584 shares of the technology company’s stock valued at $61,262,000 after purchasing an additional 20,576 shares during the period. 84.04% of the stock is owned by hedge funds and other institutional investors.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.