Robert W. Baird Has Lowered Expectations for Generac (NYSE:GNRC) Stock Price

Generac (NYSE:GNRC) had its price target dropped by Robert W. Baird from $172.00 to $171.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target suggests a potential upside of 16.48% from the company’s current price.

Several other brokerages have also recently weighed in on GNRC. Truist Financial reduced their target price on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Barclays initiated coverage on shares of Generac in a report on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 price objective on the stock. Piper Sandler dropped their target price on Generac from $200.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. Finally, Citigroup lowered their price objective on Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $174.00.

Generac Price Performance

Generac stock opened at $146.80 on Thursday. The company’s 50 day moving average is $156.31 and its two-hundred day moving average is $160.54. The firm has a market cap of $8.73 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. Generac has a 52-week low of $108.89 and a 52-week high of $195.94.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.31. Generac had a return on equity of 16.70% and a net margin of 7.17%. On average, research analysts expect that Generac will post 6.91 EPS for the current fiscal year.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.50, for a total value of $787,500.00. Following the transaction, the chief executive officer now directly owns 570,825 shares in the company, valued at approximately $89,904,937.50. This trade represents a 0.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Generac

Hedge funds have recently modified their holdings of the stock. Raymond James Trust N.A. raised its position in Generac by 52.8% during the 3rd quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company’s stock worth $541,000 after buying an additional 1,177 shares during the last quarter. Nordea Investment Management AB purchased a new position in Generac during the fourth quarter worth about $5,229,000. Global Financial Private Client LLC acquired a new stake in Generac in the fourth quarter valued at about $614,000. Principal Financial Group Inc. boosted its holdings in Generac by 5.0% in the 3rd quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock valued at $11,324,000 after purchasing an additional 3,426 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in Generac by 106.1% during the 3rd quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company’s stock worth $4,998,000 after purchasing an additional 14,811 shares during the period. 84.04% of the stock is 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.