Generac (NYSE:GNRC) Price Target Cut to $175.00 by Analysts at Piper Sandler

Generac (NYSE:GNRC) had its price target cut by investment analysts at Piper Sandler from $185.00 to $175.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price objective indicates a potential upside of 16.55% from the company’s current price.

GNRC has been the subject of several other reports. JPMorgan Chase & Co. boosted their price target on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird cut their target price on Generac from $172.00 to $171.00 and set a “neutral” rating for the company in a research report on Thursday. Citigroup decreased their price target on Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Stifel Nicolaus cut their price objective on shares of Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday. Finally, StockNews.com upgraded shares of Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Generac presently has a consensus rating of “Moderate Buy” and an average price target of $175.25.

Generac Stock Performance

GNRC stock traded down $2.30 during trading hours on Thursday, hitting $150.16. 300,449 shares of the stock were exchanged, compared to its average volume of 833,612. Generac has a 12 month low of $108.89 and a 12 month high of $195.94. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $8.93 billion, a P/E ratio of 31.20, a P/E/G ratio of 1.44 and a beta of 1.42. The company has a 50-day simple moving average of $157.62 and a two-hundred day simple moving average of $160.69.

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

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $145.15, for a total transaction of $725,750.00. Following the sale, the chief executive officer now directly owns 565,825 shares of the company’s stock, valued at $82,129,498.75. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.90% of the company’s stock.

Institutional Trading of Generac

Several institutional investors have recently modified their holdings of the business. Exchange Traded Concepts LLC acquired a new position in Generac during the 3rd quarter worth about $114,000. Rheos Capital Works Inc. bought a new position in shares of Generac during the third quarter worth about $4,766,000. Cornerstone Wealth Management LLC acquired a new position in shares of Generac in the third quarter worth approximately $227,000. Optimum Investment Advisors bought a new stake in Generac in the third quarter valued at approximately $99,000. Finally, Blue Trust Inc. increased its position in Generac by 73.5% during the 3rd quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock valued at $36,000 after purchasing an additional 97 shares during the period. 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.