Piper Sandler Raises Generac (NYSE:GNRC) Price Target to $190.00

Generac (NYSE:GNRC) had its target price upped by Piper Sandler from $175.00 to $190.00 in a report issued on Thursday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other equities research analysts have also commented on the stock. Scotiabank boosted their price target on shares of Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. StockNews.com downgraded shares of Generac from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Truist Financial upped their target price on Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company lifted 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. Finally, Stifel Nicolaus restated a “buy” rating and set a $175.00 price objective (up from $145.00) on shares of Generac in a research note on Thursday, August 1st. 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. Based on data from MarketBeat, Generac presently has a consensus rating of “Hold” and a consensus target price of $158.43.

Generac Stock Down 0.7 %

Shares of NYSE:GNRC opened at $167.28 on Thursday. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $153.90 and its 200 day moving average is $146.00. The stock has a market cap of $10.14 billion, a P/E ratio of 46.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.38. Generac has a 52-week low of $79.86 and a 52-week high of $176.14.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. The business had revenue of $998.20 million for the quarter, compared to the consensus estimate of $1 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. The business’s revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.08 EPS. Sell-side analysts predict that Generac will post 6.47 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Generac

A number of large investors have recently bought and sold shares of the company. William Blair Investment Management LLC acquired a new stake in Generac during the 2nd quarter valued at approximately $98,282,000. Wellington Management Group LLP lifted its position in Generac by 432.9% during the fourth quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock valued at $50,697,000 after purchasing an additional 318,664 shares during the period. DAVENPORT & Co LLC lifted its position in Generac by 831.1% during the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock valued at $30,288,000 after purchasing an additional 214,322 shares during the period. Blair William & Co. IL boosted its holdings in Generac by 29.2% in the second quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock valued at $60,487,000 after purchasing an additional 103,439 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in Generac by 21.4% during the 2nd quarter. Mackenzie Financial Corp now owns 420,121 shares of the technology company’s stock worth $55,548,000 after purchasing an additional 74,115 shares during the period. Hedge funds and other institutional investors 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.