Generac (NYSE:GNRC) Price Target Raised to $193.00

Generac (NYSE:GNRC) had its price target raised by The Goldman Sachs Group from $148.00 to $193.00 in a report released on Friday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the technology company’s stock.

A number of other equities analysts have also recently commented on GNRC. Piper Sandler increased their target price on Generac from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Stifel Nicolaus reissued a “buy” rating and issued a $175.00 price objective (up from $145.00) on shares of Generac in a research note on Thursday, August 1st. Wells Fargo & Company lifted their target price on shares of Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. TD Cowen increased their target price on shares of Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research report on Friday. Finally, Stephens restated an “overweight” rating and set a $200.00 price target on shares of Generac in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Generac has a consensus rating of “Moderate Buy” and a consensus price target of $169.10.

Generac Price Performance

Generac stock opened at $168.91 on Friday. The stock has a market capitalization of $10.16 billion, a P/E ratio of 35.04, a P/E/G ratio of 2.13 and a beta of 1.37. The company’s fifty day moving average price is $157.17 and its 200 day moving average price is $148.43. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 2.03. Generac has a 1 year low of $98.27 and a 1 year high of $176.14.

Generac (NYSE:GNRC) last announced its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business earned $1.64 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Generac will post 6.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total transaction of $794,650.00. Following the completion of the sale, the chief executive officer now directly owns 562,177 shares in the company, valued at $89,346,790.61. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Generac

Several institutional investors have recently added to or reduced their stakes in the stock. DAVENPORT & Co LLC boosted its position in shares of Generac by 831.1% during the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after buying an additional 214,322 shares during the period. Willis Investment Counsel lifted its stake in Generac by 18.7% during the 3rd quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock worth $16,684,000 after acquiring an additional 16,541 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Generac by 85.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock valued at $928,000 after acquiring an additional 3,244 shares during the period. Epoch Investment Partners Inc. acquired a new position in Generac in the 1st quarter valued at about $1,053,000. Finally, Nwam LLC grew its position in Generac by 135.8% in the 1st quarter. Nwam LLC now owns 5,629 shares of the technology company’s stock valued at $768,000 after acquiring an additional 3,242 shares in the last quarter. Institutional investors and hedge funds 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.