Citigroup Increases Generac (NYSE:GNRC) Price Target to $172.00

Generac (NYSE:GNRC) had its price objective lifted by Citigroup from $128.00 to $172.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other research analysts also recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Generac from $129.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Roth Mkm upped their price objective on Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday. Canaccord Genuity Group lifted their target price on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Scotiabank increased their target price on shares of Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Finally, Stephens restated an “overweight” rating and issued a $200.00 price target on shares of Generac in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $165.40.

Generac Stock Performance

NYSE:GNRC opened at $164.45 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25. Generac has a fifty-two week low of $79.86 and a fifty-two week high of $176.14. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 45.30, a PEG ratio of 2.22 and a beta of 1.38. The stock has a fifty day moving average price of $155.89 and a 200-day moving average price of $147.08.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.15. The business had revenue of $998.20 million during the quarter, compared to analysts’ expectations of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. Generac’s revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 earnings per share. As a group, equities analysts anticipate that Generac will post 6.47 EPS for the current fiscal year.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the transaction, the chief executive officer now directly owns 562,177 shares of the company’s stock, valued at approximately $89,346,790.61. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Oak Harvest Investment Services increased its position in shares of Generac by 23.7% during the third quarter. Oak Harvest Investment Services now owns 14,366 shares of the technology company’s stock worth $2,282,000 after acquiring an additional 2,748 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV acquired a new position in Generac during the 3rd quarter valued at about $3,742,000. Avitas Wealth Management LLC increased its holdings in Generac by 19.5% during the 3rd quarter. Avitas Wealth Management LLC now owns 2,546 shares of the technology company’s stock worth $405,000 after purchasing an additional 416 shares in the last quarter. Hedeker Wealth LLC raised its stake in shares of Generac by 1.5% in the third quarter. Hedeker Wealth LLC now owns 38,278 shares of the technology company’s stock worth $6,082,000 after purchasing an additional 559 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Generac by 17.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,008 shares of the technology company’s stock valued at $319,000 after purchasing an additional 303 shares in the last quarter. 84.04% of the stock is owned by 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.