Canaccord Genuity Group Increases Generac (NYSE:GNRC) Price Target to $300.00

Generac (NYSE:GNRC) had its price target boosted by Canaccord Genuity Group from $275.00 to $300.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 50.76% from the company’s previous close.

GNRC has been the subject of several other reports. Jefferies Financial Group assumed coverage on Generac in a report on Friday, March 20th. They issued a “hold” rating and a $222.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $277.00 price target on shares of Generac in a research report on Thursday, March 26th. Guggenheim reaffirmed a “neutral” rating and set a $202.00 price objective on shares of Generac in a research report on Tuesday, February 10th. Zacks Research upgraded shares of Generac from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Finally, Roth Mkm reissued a “neutral” rating and issued a $220.00 target price on shares of Generac in a report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $229.94.

Generac Stock Performance

NYSE:GNRC traded up $3.66 during mid-day trading on Wednesday, reaching $198.99. 843,675 shares of the company’s stock were exchanged, compared to its average volume of 1,196,858. Generac has a one year low of $99.50 and a one year high of $241.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.03. The business’s fifty day simple moving average is $201.91 and its two-hundred day simple moving average is $175.70. The firm has a market capitalization of $11.68 billion, a PE ratio of 74.25, a price-to-earnings-growth ratio of 1.32 and a beta of 1.74.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, February 11th. The technology company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). Generac had a net margin of 3.79% and a return on equity of 14.55%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm earned $2.80 EPS. The business’s revenue for the quarter was down 11.6% on a year-over-year basis. Analysts anticipate that Generac will post 8 earnings per share for the current fiscal year.

Insider Activity at Generac

In related news, CFO York A. Ragen sold 24,362 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the sale, the chief financial officer directly owned 137,182 shares of the company’s stock, valued at $32,321,451.02. This trade represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Nicollet Investment Management Inc. increased its position in Generac by 0.7% during the 4th quarter. Nicollet Investment Management Inc. now owns 7,734 shares of the technology company’s stock worth $1,055,000 after purchasing an additional 50 shares in the last quarter. Gen Wealth Partners Inc boosted its position in Generac by 8.7% in the fourth quarter. Gen Wealth Partners Inc now owns 675 shares of the technology company’s stock valued at $92,000 after buying an additional 54 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of Generac by 21.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 331 shares of the technology company’s stock worth $55,000 after buying an additional 59 shares during the last quarter. Meridian Financial Partners LLC grew its stake in shares of Generac by 0.6% during the fourth quarter. Meridian Financial Partners LLC now owns 10,056 shares of the technology company’s stock worth $1,371,000 after buying an additional 61 shares during the last quarter. Finally, Sentry Investment Management LLC increased its holdings in shares of Generac by 69.8% during the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock worth $28,000 after buying an additional 67 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.