Truist Financial Cuts Generac (NYSE:GNRC) Price Target to $200.00

Generac (NYSE:GNRC) had its target price decreased by analysts at Truist Financial from $210.00 to $200.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Truist Financial’s price objective points to a potential upside of 24.66% from the stock’s current price.

A number of other research firms also recently commented on GNRC. The Goldman Sachs Group increased their price objective on Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen increased their price objective on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Piper Sandler increased their price objective on Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Roth Mkm increased their price objective on Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Generac currently has an average rating of “Moderate Buy” and a consensus target price of $174.30.

Generac Stock Up 0.2 %

Shares of NYSE GNRC traded up $0.29 during mid-day trading on Thursday, reaching $160.43. The company had a trading volume of 21,778 shares, compared to its average volume of 619,439. The stock has a fifty day moving average of $172.01 and a two-hundred day moving average of $160.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of 33.28, a PEG ratio of 1.59 and a beta of 1.42. Generac has a 12-month low of $108.89 and a 12-month high of $195.94.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 earnings per share. As a group, equities research analysts expect that Generac will post 6.91 EPS for the current year.

Insider Buying and Selling

In related news, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the completion of the sale, the executive vice president now directly owns 10,738 shares in the company, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO York A. Ragen sold 29,081 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total value of $5,372,133.13. Following the transaction, the chief financial officer now owns 135,613 shares of the company’s stock, valued at $25,051,789.49. The trade was a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,268 shares of company stock worth $7,577,703 over the last three months. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Generac

Several institutional investors have recently modified their holdings of the stock. Herbst Group LLC acquired a new position in shares of Generac during the 4th quarter worth about $2,077,000. Cranbrook Wealth Management LLC bought a new position in shares of Generac during the 4th quarter valued at about $28,000. Merit Financial Group LLC lifted its holdings in shares of Generac by 18.9% during the 4th quarter. Merit Financial Group LLC now owns 2,192 shares of the technology company’s stock valued at $340,000 after purchasing an additional 349 shares in the last quarter. Carnegie Investment Counsel lifted its holdings in shares of Generac by 11.2% during the 4th quarter. Carnegie Investment Counsel now owns 28,080 shares of the technology company’s stock valued at $4,354,000 after purchasing an additional 2,834 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Generac by 462.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 46,147 shares of the technology company’s stock valued at $7,155,000 after purchasing an additional 37,947 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

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.