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

Generac (NYSE:GNRC) had its price objective increased by Piper Sandler from $190.00 to $200.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other research firms also recently issued reports on GNRC. Citigroup lifted their price target on Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Robert W. Baird decreased their price target on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Canaccord Genuity Group raised their price objective on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their target price on shares of Generac from $148.00 to $193.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Truist Financial boosted their price target on shares of Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.58.

Generac Trading Up 3.0 %

GNRC opened at $189.08 on Friday. The company has a market cap of $11.25 billion, a P/E ratio of 39.23, a price-to-earnings-growth ratio of 2.25 and a beta of 1.37. The company has a fifty day moving average price of $168.12 and a two-hundred day moving average price of $153.56. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. Generac has a 1-year low of $108.89 and a 1-year high of $195.94.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted $1.64 EPS. Generac’s revenue was up 9.6% compared to the same quarter last year. Analysts predict that Generac will post 6.8 EPS for the current fiscal year.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total value of $794,650.00. Following the transaction, the chief executive officer now directly owns 562,177 shares of the company’s stock, valued at $89,346,790.61. The trade was a 0.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO York A. Ragen sold 29,081 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total value of $5,372,133.13. Following the sale, the chief financial officer now directly owns 135,613 shares of the company’s stock, valued at approximately $25,051,789.49. This trade represents a 17.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock worth $7,584,853 in the last 90 days. 2.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Generac

Hedge funds and other institutional investors have recently modified their holdings of the company. William Blair Investment Management LLC bought a new position in Generac during the 2nd quarter valued at approximately $98,282,000. Dimensional Fund Advisors LP raised its holdings in shares of Generac by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock valued at $92,941,000 after acquiring an additional 35,026 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Generac by 114.8% in 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 period. Ninety One UK Ltd boosted its holdings in Generac by 0.7% in the second quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock valued at $68,720,000 after acquiring an additional 3,849 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in Generac by 29.2% in the 2nd quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after purchasing an additional 103,439 shares in the last quarter. 84.04% of the stock is 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.