Generac (NYSE:GNRC) Stock Gets Price Target Reduction from Piper Sandler

Generac (NYSE:GNRC) had its target price reduced by Piper Sandler from $279.00 to $266.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

GNRC has been the subject of several other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Generac in a report on Tuesday, November 3rd. Zacks Research lowered Generac from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Stifel Nicolaus increased their price target on Generac from $290.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. DA Davidson set a $333.00 price target on Generac in a research note on Thursday, July 30th. Finally, Roth Capital boosted their price target on Generac from $214.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $289.82.

Generac Price Performance

GNRC opened at $193.94 on Monday. The stock has a market cap of $11.44 billion, a P/E ratio of 20.52, a P/E/G ratio of 1.54 and a beta of 1.86. Generac has a 12 month low of $134.80 and a 12 month high of $296.44. The company has a quick ratio of 1.06, a current ratio of 1.97 and a debt-to-equity ratio of 0.41. The company has a fifty day simple moving average of $198.06 and a 200 day simple moving average of $218.44.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, October 28th. The technology company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.40 by $0.14. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. Generac had a net margin of 6.52% and a return on equity of 18.78%. The business’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period last year, the company posted $1.83 EPS. On average, research analysts expect that Generac will post 9.84 EPS for the current year.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $206.00, for a total value of $1,030,000.00. Following the sale, the chief executive officer owned 544,528 shares of the company’s stock, valued at approximately $112,172,768. This trade represents a 0.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman Taffe sold 300 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $182.01, for a total value of $54,603.00. Following the completion of the sale, the insider directly owned 10,676 shares in the company, valued at $1,943,138.76. This trade represents a 2.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 12,606 shares of company stock valued at $2,491,310. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Generac

A number of institutional investors have recently made changes to their positions in GNRC. N.E.W. Advisory Services LLC bought a new stake in shares of Generac in the 2nd quarter valued at $25,000. Avalon Trust Co acquired a new position in shares of Generac during the 1st quarter valued at $32,000. Essential Partners LLC boosted its stake in Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after acquiring an additional 61 shares in the last quarter. Jacobi Capital Management LLC bought a new position in Generac during the third quarter worth $35,000. Finally, Fiduciary Financial Advisors bought a new position in Generac during the second quarter worth $50,000. Institutional investors own 84.04% of the company’s stock.

About Generac

Generac Holdings Inc. designs and manufactures backup power generation equipment and energy technology solutions. Its products include home standby and portable generators, as well as power systems for commercial, industrial, and other applications. The company also offers energy storage and management products, solar-related solutions, and services that help customers monitor and manage power use. Generac serves residential, commercial, and industrial customers, with a presence in North America and other markets around the world.