Generac (NYSE:GNRC) Rating Increased to Buy at Citigroup

Generac (NYSE:GNRC) was upgraded by Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $138.00 target price on the technology company’s stock, down from their prior target price of $162.00. Citigroup’s price objective suggests a potential upside of 24.39% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler decreased their target price on Generac from $185.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. The Goldman Sachs Group reduced their price objective on shares of Generac from $193.00 to $168.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. UBS Group lifted their price target on shares of Generac from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Bank of America initiated coverage on shares of Generac in a research note on Monday, March 24th. They issued a “buy” rating and a $182.00 price objective for the company. Finally, Robert W. Baird cut their target price on Generac from $172.00 to $171.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Nine investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Generac presently has an average rating of “Moderate Buy” and a consensus target price of $174.40.

Generac Trading Down 1.8 %

NYSE GNRC opened at $110.94 on Thursday. Generac has a 52 week low of $99.50 and a 52 week high of $195.94. The firm has a 50 day moving average of $129.54 and a two-hundred day moving average of $154.28. The stock has a market capitalization of $6.61 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.44 and a beta of 1.58. 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 issued its earnings results on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, topping 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%. As a group, research analysts expect that Generac will post 8 EPS for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Hurley Capital LLC acquired a new position in shares of Generac in the fourth quarter valued at approximately $26,000. Modus Advisors LLC acquired a new position in Generac in the 4th quarter valued at $27,000. Cranbrook Wealth Management LLC purchased a new position in shares of Generac during the 4th quarter worth $28,000. Versant Capital Management Inc lifted its stake in shares of Generac by 391.9% during the 4th quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock worth $28,000 after purchasing an additional 145 shares during the period. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Generac in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

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.