Generac (NYSE:GNRC) Price Target Cut to $185.00 by Analysts at Piper Sandler

Generac (NYSE:GNRC) had its price target dropped by equities research analysts at Piper Sandler from $200.00 to $185.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price target suggests a potential upside of 29.07% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Citigroup cut their price objective on shares of Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Roth Mkm boosted their price target on shares of Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus raised their target price on Generac from $185.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. TD Cowen increased their price target on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Truist Financial dropped their price objective on shares of Generac from $210.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.55.

Generac Stock Performance

Shares of NYSE GNRC opened at $143.33 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. Generac has a 1 year low of $108.89 and a 1 year high of $195.94. The company’s fifty day moving average price is $161.85 and its 200 day moving average price is $161.10. The company has a market capitalization of $8.53 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 1.51 and a beta of 1.42.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred 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 directly owns 565,825 shares in the company, valued at approximately $82,129,498.75. This represents a 0.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Generac

Institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its stake in Generac by 133.6% during the fourth quarter. Jennison Associates LLC now owns 672,213 shares of the technology company’s stock valued at $104,227,000 after buying an additional 384,434 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Generac during the fourth quarter valued at approximately $46,785,000. The Manufacturers Life Insurance Company increased its holdings in shares of Generac by 114.8% in the third quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock valued at $88,944,000 after buying an additional 299,205 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Generac by 25,311.7% during 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 acquiring an additional 266,026 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its position in shares of Generac by 678.5% during the third 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 currently owned by institutional investors and hedge funds.

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.