Generac (NYSE:GNRC) Given New $175.00 Price Target at Piper Sandler

Generac (NYSE:GNRC) had its price target upped by Piper Sandler from $150.00 to $175.00 in a research note published on Monday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the company. StockNews.com cut Generac from a buy rating to a hold rating in a report on Wednesday, July 3rd. Oppenheimer cut Generac from an outperform rating to a market perform rating in a report on Wednesday, May 22nd. Roth Mkm lifted their target price on Generac from $120.00 to $135.00 and gave the stock a neutral rating in a report on Tuesday, April 23rd. Truist Financial lifted their target price on Generac from $160.00 to $170.00 and gave the stock a buy rating in a report on Thursday, May 23rd. Finally, Canaccord Genuity Group lifted their price target on Generac from $140.00 to $150.00 and gave the company a buy rating in a report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $142.11.

Generac Stock Down 3.8 %

GNRC opened at $152.06 on Monday. Generac has a one year low of $79.86 and a one year high of $161.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.29. The stock’s fifty day moving average is $144.18 and its 200-day moving average is $130.67. The company has a market capitalization of $9.22 billion, a PE ratio of 41.89, a P/E/G ratio of 2.16 and a beta of 1.37.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.16. Generac had a return on equity of 14.68% and a net margin of 5.68%. The company had revenue of $889.27 million for the quarter, compared to the consensus estimate of $886.60 million. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts predict that Generac will post 6.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $139.95, for a total value of $699,750.00. Following the completion of the sale, the chief executive officer now owns 587,177 shares of the company’s stock, valued at $82,175,421.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Patrick John Forsythe sold 65,855 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the completion of the transaction, the insider now owns 19,815 shares of the company’s stock, valued at approximately $2,889,027. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $139.95, for a total value of $699,750.00. Following the transaction, the chief executive officer now directly owns 587,177 shares of the company’s stock, valued at approximately $82,175,421.15. The disclosure for this sale can be found here. Insiders sold 80,785 shares of company stock valued at $11,720,411 over the last quarter. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Generac

Several large investors have recently made changes to their positions in GNRC. Stevens Capital Management LP bought a new position in Generac during the fourth quarter valued at about $916,000. Duality Advisers LP bought a new position in Generac during the fourth quarter valued at about $964,000. Versor Investments LP bought a new position in Generac during the fourth quarter valued at about $452,000. Ninety One UK Ltd increased its stake in Generac by 13.4% during the fourth quarter. Ninety One UK Ltd now owns 476,897 shares of the technology company’s stock valued at $61,634,000 after acquiring an additional 56,169 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in Generac by 91.7% during the fourth quarter. Teacher Retirement System of Texas now owns 9,183 shares of the technology company’s stock valued at $1,187,000 after acquiring an additional 4,393 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

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.