Generac (NYSE:GNRC) Price Target Cut to $297.00 by Analysts at Cantor Fitzgerald

Generac (NYSE:GNRC) had its target price trimmed by Cantor Fitzgerald from $333.00 to $297.00 in a report published on Monday morning, Marketbeat Ratings reports. They currently have an overweight rating on the technology company’s stock.

GNRC has been the subject of several other reports. Needham & Company LLC reiterated a “buy” rating and set a $283.00 price objective on shares of Generac in a research report on Thursday, September 17th. Canaccord Genuity Group upped their price target on shares of Generac from $275.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, September 17th. Stifel Nicolaus increased their price target on Generac from $285.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Roth Capital lifted their price objective on Generac from $214.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, September 17th. Finally, JPMorgan Chase & Co. boosted their price objective on Generac from $261.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, September 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $290.45.

Generac Price Performance

Shares of GNRC opened at $215.45 on Monday. Generac has a 1 year low of $134.80 and a 1 year high of $296.44. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. The company has a market capitalization of $12.71 billion, a price-to-earnings ratio of 49.64, a price-to-earnings-growth ratio of 1.86 and a beta of 1.91. The business has a 50-day moving average of $200.98 and a 200-day moving average of $226.25.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.90. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%.The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.65 earnings per share. As a group, equities research analysts anticipate that Generac will post 9.74 earnings per share for the current year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $206.00, for a total transaction of $1,030,000.00. Following the transaction, the chief executive officer directly owned 544,528 shares of the company’s stock, valued at approximately $112,172,768. This represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman Taffe sold 150 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $229.50, for a total value of $34,425.00. Following the completion of the transaction, the insider owned 11,276 shares in the company, valued at approximately $2,587,842. The trade was a 1.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 17,289 shares of company stock valued at $3,409,173 in the last three months. Corporate insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Generac

A number of large investors have recently modified their holdings of GNRC. N.E.W. Advisory Services LLC bought a new stake in Generac during the 2nd quarter valued at $25,000. Avalon Trust Co bought a new stake in shares of Generac during the first quarter worth about $32,000. Essential Partners LLC increased its position in shares of Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after acquiring an additional 61 shares in the last quarter. GHP Investment Advisors Inc. acquired a new stake in shares of Generac in the 1st quarter worth about $36,000. Finally, Root Financial Partners LLC lifted its position in Generac by 32.9% in the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock valued at $43,000 after acquiring an additional 54 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

Generac Company Profile

Generac Holdings Inc is an energy technology company that designs and manufactures power generation equipment, energy storage systems and other products intended to provide backup and distributed energy solutions. Its offerings serve residential, commercial, industrial and other users seeking standby power, portable power or greater control over energy use.

The company’s product portfolio includes home standby generators, portable generators, commercial and industrial generators, mobile power equipment, engines and related transfer switches and controls.