Generac (NYSE:GNRC) Earns Buy Rating from Analysts at Bank of America

Bank of America began coverage on shares of Generac (NYSE:GNRC) in a research report report published on Monday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $182.00 target price on the technology company’s stock.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company decreased their target price on Generac from $175.00 to $165.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group dropped their price target on Generac from $193.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Truist Financial cut their price objective on Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Citigroup decreased their target price on shares of Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, Barclays assumed coverage on shares of Generac in a research report on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.38.

Generac Price Performance

Shares of NYSE GNRC opened at $134.02 on Monday. Generac has a twelve month low of $119.11 and a twelve month high of $195.94. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average of $141.93 and a two-hundred day moving average of $157.88. The company has a market capitalization of $7.99 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 1.44 and a beta of 1.50.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. As a group, analysts expect that Generac will post 8 earnings per share for the current fiscal year.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 565,825 shares in the company, valued at approximately $82,129,498.75. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Generac

Hedge funds have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Generac by 1.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,456 shares of the technology company’s stock valued at $1,001,000 after purchasing an additional 72 shares during the period. MetLife Investment Management LLC grew its stake in Generac by 0.5% in the 4th quarter. MetLife Investment Management LLC now owns 17,004 shares of the technology company’s stock valued at $2,636,000 after buying an additional 77 shares during the last quarter. Alaethes Wealth LLC raised its holdings in Generac by 0.7% in the 4th quarter. Alaethes Wealth LLC now owns 11,721 shares of the technology company’s stock worth $1,817,000 after acquiring an additional 78 shares during the period. Allworth Financial LP lifted its position in Generac by 3.0% during the 4th quarter. Allworth Financial LP now owns 2,738 shares of the technology company’s stock worth $435,000 after acquiring an additional 80 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Generac by 42.0% during the fourth quarter. Venturi Wealth Management LLC now owns 284 shares of the technology company’s stock valued at $44,000 after acquiring an additional 84 shares during the period. 84.04% of the stock is owned by institutional investors and hedge funds.

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.