Guggenheim Reiterates Buy Rating for Generac (NYSE:GNRC)

Generac (NYSE:GNRC)‘s stock had its “buy” rating restated by research analysts at Guggenheim in a research note issued on Tuesday,Benzinga reports. They presently have a $202.00 target price on the technology company’s stock. Guggenheim’s price objective indicates a potential upside of 10.47% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Generac from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. JPMorgan Chase & Co. upgraded Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price target for the company in a research note on Monday, December 8th. Needham & Company LLC began coverage on Generac in a research note on Monday, January 12th. They set a “buy” rating and a $211.00 price target on the stock. Citigroup raised shares of Generac from a “neutral” rating to a “buy” rating and set a $207.00 price objective for the company in a research report on Thursday, January 8th. Finally, Wells Fargo & Company set a $195.00 target price on shares of Generac in a research note on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Generac presently has a consensus rating of “Moderate Buy” and an average target price of $195.29.

Generac Stock Down 1.6%

GNRC stock traded down $2.98 during trading on Tuesday, hitting $182.85. 83,946 shares of the company’s stock traded hands, compared to its average volume of 1,023,396. Generac has a 1 year low of $99.50 and a 1 year high of $203.25. The business has a fifty day simple moving average of $157.55 and a two-hundred day simple moving average of $169.23. The firm has a market capitalization of $10.73 billion, a P/E ratio of 34.92, a PEG ratio of 1.48 and a beta of 1.85. The company has a quick ratio of 1.02, a current ratio of 2.18 and a debt-to-equity ratio of 0.51.

Institutional Trading of Generac

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MUFG Securities EMEA plc purchased a new position in shares of Generac in the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Generac in the third quarter valued at approximately $26,000. First Horizon Corp acquired a new position in shares of Generac during the 3rd quarter worth approximately $28,000. Sentry Investment Management LLC lifted its position in shares of Generac by 69.8% during the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after buying an additional 67 shares in the last quarter. Finally, Quent Capital LLC acquired a new stake in Generac in the 3rd quarter valued at $41,000. Institutional investors and hedge funds 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.