Generac (NYSE:GNRC) Earns Buy Rating from Analysts at Bank of America

Equities researchers at Bank of America assumed coverage on shares of Generac (NYSE:GNRC) in a report issued on Monday. The firm set a “buy” rating and a $182.00 price target on the technology company’s stock. Bank of America‘s price objective would suggest a potential upside of 33.17% from the stock’s previous close.

A number of other analysts have also recently commented on GNRC. Citigroup dropped their price target on shares of Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group dropped their price target on shares of Generac from $193.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus decreased their target price on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Piper Sandler decreased their target price on shares of Generac from $185.00 to $175.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, Truist Financial decreased their target price on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.38.

Generac Stock Up 3.9 %

Generac stock traded up $5.15 during midday trading on Monday, hitting $136.67. 59,704 shares of the stock were exchanged, compared to its average volume of 876,780. Generac has a 52-week low of $115.76 and a 52-week high of $195.94. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 1.44 and a beta of 1.50. The business’s 50-day moving average price is $143.39 and its 200-day moving average price is $158.13. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. On average, research analysts expect that Generac will post 8 EPS for the current fiscal year.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $145.15, for a total value of $725,750.00. Following the completion of the transaction, the chief executive officer now directly owns 565,825 shares in the company, valued at $82,129,498.75. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Hurley Capital LLC bought a new stake in Generac during the 4th quarter valued at about $26,000. Modus Advisors LLC bought a new stake in Generac during the 4th quarter valued at about $27,000. Cranbrook Wealth Management LLC bought a new stake in Generac during the 4th quarter valued at about $28,000. Versant Capital Management Inc increased its stake in Generac by 391.9% during the 4th quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock valued at $28,000 after purchasing an additional 145 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in Generac during the 3rd quarter valued at about $31,000. 84.04% of the stock is currently owned by institutional investors.

Generac Company Profile

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.