Generac (NYSE:GNRC) Price Target Raised to $178.00

Generac (NYSE:GNRC) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $160.00 to $178.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 6.46% from the stock’s current price.

Several other research firms also recently commented on GNRC. TD Cowen boosted their price objective on Generac from $144.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company boosted their price objective on Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Piper Sandler boosted their price objective on Generac from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday. Canaccord Genuity Group boosted their price objective on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, StockNews.com downgraded Generac from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Generac currently has a consensus rating of “Hold” and a consensus target price of $158.43.

Generac Price Performance

Shares of GNRC opened at $167.20 on Thursday. Generac has a 52-week low of $79.86 and a 52-week high of $176.14. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25. The business’s 50 day moving average price is $153.90 and its two-hundred day moving average price is $145.88. The firm has a market cap of $10.13 billion, a PE ratio of 46.06, a price-to-earnings-growth ratio of 2.22 and a beta of 1.38.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.15. The firm had revenue of $998.20 million for the quarter, compared to analyst estimates of $1 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. The company’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 earnings per share. On average, equities analysts anticipate that Generac will post 6.47 EPS for the current year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the transaction, the chief executive officer now directly owns 562,177 shares of the company’s stock, valued at approximately $89,346,790.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Generac

A number of large investors have recently bought and sold shares of the stock. Duncker Streett & Co. Inc. increased its stake in Generac by 2.4% in the 2nd quarter. Duncker Streett & Co. Inc. now owns 2,932 shares of the technology company’s stock worth $388,000 after purchasing an additional 68 shares during the period. Empirical Finance LLC increased its stake in Generac by 4.5% in the 1st quarter. Empirical Finance LLC now owns 1,748 shares of the technology company’s stock worth $220,000 after purchasing an additional 75 shares during the period. Johnson Investment Counsel Inc. increased its stake in Generac by 0.3% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 22,549 shares of the technology company’s stock worth $2,981,000 after purchasing an additional 75 shares during the period. EntryPoint Capital LLC increased its stake in Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after purchasing an additional 90 shares during the period. Finally, American International Group Inc. increased its stake in Generac by 0.6% in the 4th quarter. American International Group Inc. now owns 16,550 shares of the technology company’s stock worth $2,139,000 after purchasing an additional 93 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.