Generac (NYSE:GNRC) Given New $235.00 Price Target at Citigroup

Generac (NYSE:GNRC) had its price objective boosted by Citigroup from $232.00 to $235.00 in a report issued on Friday,Benzinga reports. Citigroup currently has a neutral rating on the technology company’s stock.

Several other equities analysts have also recently weighed in on the stock. TD Cowen raised shares of Generac to a “strong-buy” rating in a research report on Monday, October 5th. Barclays boosted their price objective on Generac from $278.00 to $281.00 and gave the stock an “equal weight” rating in a report on Thursday. Roth Capital increased their price objective on Generac from $214.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, September 17th. Wells Fargo & Company set a $280.00 target price on Generac in a report on Thursday, September 17th. Finally, Robert W. Baird set a $287.00 target price on Generac in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.41.

Generac Stock Performance

GNRC opened at $197.70 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. The company’s fifty day moving average price is $199.18 and its two-hundred day moving average price is $217.49. Generac has a 1-year low of $134.80 and a 1-year high of $296.44. The company has a market cap of $11.67 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 1.74 and a beta of 1.91.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, October 28th. The technology company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.14. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. Generac had a net margin of 6.52% and a return on equity of 18.78%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period last year, the firm earned $1.83 earnings per share. On average, analysts expect that Generac will post 9.74 EPS for the current fiscal year.

Insider Activity at Generac

In related news, insider Kyle Raabe sold 603 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $212.57, for a total transaction of $128,179.71. Following the transaction, the insider directly owned 9,966 shares in the company, valued at approximately $2,118,472.62. The trade was a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman Taffe sold 550 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total value of $120,356.50. Following the completion of the transaction, the insider owned 15,508 shares of the company’s stock, valued at $3,393,615.64. This trade represents a 3.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,442 shares of company stock valued at $3,656,537 over the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Generac

A number of large investors have recently added to or reduced their stakes in the stock. Root Financial Partners LLC raised its position in shares of Generac by 32.9% during the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock valued at $43,000 after buying an additional 54 shares during the period. Contravisory Investment Management Inc. grew its position in Generac by 1.5% in the third quarter. Contravisory Investment Management Inc. now owns 4,027 shares of the technology company’s stock worth $833,000 after acquiring an additional 58 shares during the period. Essential Partners LLC grew its position in Generac by 57.0% in 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 during the period. Oarsman Capital Inc. grew its position in Generac by 4.3% in the second quarter. Oarsman Capital Inc. now owns 1,492 shares of the technology company’s stock worth $437,000 after acquiring an additional 61 shares during the period. Finally, Wedbush Securities Inc. increased its stake in Generac by 6.2% during the third quarter. Wedbush Securities Inc. now owns 1,049 shares of the technology company’s stock worth $217,000 after acquiring an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Company Profile

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.