Generac (NYSE:GNRC) Price Target Raised to $172.00

Generac (NYSE:GNRC) had its target price upped by TD Cowen from $144.00 to $172.00 in a research note published on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other research firms also recently weighed in on GNRC. Scotiabank boosted their target price on shares of Generac from $147.00 to $160.00 and gave the stock a sector perform rating in a report on Monday, July 29th. StockNews.com downgraded Generac from a buy rating to a hold rating in a research report on Wednesday, July 3rd. Guggenheim lowered Generac from a neutral rating to a sell rating and set a $120.00 price objective for the company. in a research note on Thursday, May 30th. Roth Mkm boosted their target price on Generac from $135.00 to $160.00 and gave the company a neutral rating in a research report on Monday, July 29th. Finally, Oppenheimer downgraded Generac from an outperform rating to a market perform rating in a research report on Wednesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and an average target price of $153.52.

Generac Stock Performance

Shares of NYSE GNRC opened at $142.87 on Thursday. The company has a market cap of $8.66 billion, a P/E ratio of 39.36, a P/E/G ratio of 1.93 and a beta of 1.37. The firm’s fifty day moving average is $144.91 and its two-hundred day moving average is $132.31. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.25. Generac has a 52-week low of $79.86 and a 52-week high of $169.57.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The firm had revenue of $998.20 million during the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the company earned $1.08 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. As a group, analysts anticipate that Generac will post 6.3 EPS for the current fiscal year.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $133.39, for a total transaction of $666,950.00. Following the transaction, the chief executive officer now directly owns 577,177 shares in the company, valued at approximately $76,989,640.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Patrick John Forsythe sold 65,855 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total value of $9,601,659.00. Following the completion of the sale, the insider now owns 19,815 shares of the company’s stock, valued at approximately $2,889,027. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $133.39, for a total transaction of $666,950.00. Following the transaction, the chief executive officer now directly owns 577,177 shares in the company, valued at $76,989,640.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,785 shares of company stock worth $11,020,661. Company insiders own 2.80% of the company’s stock.

Institutional Trading of Generac

Hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI raised its position in shares of Generac by 80.4% in the 2nd quarter. National Bank of Canada FI now owns 30,918 shares of the technology company’s stock worth $4,118,000 after acquiring an additional 13,784 shares in the last quarter. First Dallas Securities Inc. bought a new position in Generac in the second quarter worth about $3,177,000. TD Asset Management Inc raised its holdings in Generac by 3.5% in the second quarter. TD Asset Management Inc now owns 11,478 shares of the technology company’s stock worth $1,518,000 after purchasing an additional 390 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Generac in the 2nd quarter valued at about $796,000. Finally, Larson Financial Group LLC grew its position in shares of Generac by 22,727.3% in the 2nd quarter. Larson Financial Group LLC now owns 2,511 shares of the technology company’s stock worth $332,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

About Generac

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.