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

Generac (NYSE:GNRC) had its target price upped by Piper Sandler from $190.00 to $200.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

GNRC has been the topic of several other research reports. Canaccord Genuity Group increased their price objective on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus increased their price target on shares of Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price objective on shares of Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Roth Mkm raised their target price on Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company boosted their price target on Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $174.58.

Generac Stock Up 3.0 %

Shares of Generac stock opened at $189.08 on Friday. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. Generac has a twelve month low of $108.89 and a twelve month high of $195.94. The company has a market cap of $11.25 billion, a price-to-earnings ratio of 39.23, a price-to-earnings-growth ratio of 2.25 and a beta of 1.37. The company’s 50 day moving average is $168.12 and its 200 day moving average is $153.56.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. Generac’s revenue was up 9.6% compared to the same quarter last year. Research analysts anticipate that Generac will post 6.8 EPS for the current year.

Insider Buying and Selling

In other news, CFO York A. Ragen sold 29,081 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the transaction, the chief financial officer now directly owns 135,613 shares in the company, valued at approximately $25,051,789.49. This represents a 17.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 562,177 shares in the company, valued at $89,346,790.61. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,268 shares of company stock worth $7,584,853. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Generac

A number of institutional investors and hedge funds have recently made changes to their positions in GNRC. William Blair Investment Management LLC purchased a new stake in shares of Generac during the 2nd quarter valued at about $98,282,000. The Manufacturers Life Insurance Company increased its stake in Generac by 114.8% during the third quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock worth $88,944,000 after acquiring an additional 299,205 shares during the last quarter. Jennison Associates LLC purchased a new stake in Generac during the third quarter valued at approximately $45,722,000. International Assets Investment Management LLC lifted its stake in shares of Generac by 25,311.7% in the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock valued at $42,433,000 after purchasing an additional 266,026 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of Generac by 678.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock worth $30,560,000 after purchasing an additional 167,641 shares during the period. 84.04% of the stock is owned by hedge funds and other 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.