Robert W. Baird Boosts Generac (NYSE:GNRC) Price Target to $163.00

Generac (NYSE:GNRC) had its price target hoisted by Robert W. Baird from $142.00 to $163.00 in a report released on Thursday, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Several other research firms have also recently weighed in on GNRC. TD Cowen increased their price target on shares of Generac from $144.00 to $172.00 and gave the company a buy rating in a research note on Thursday. Roth Mkm raised their target price on Generac from $135.00 to $160.00 and gave the stock a neutral rating in a research note on Monday, July 29th. StockNews.com lowered Generac from a buy rating to a hold rating in a research note on Wednesday, July 3rd. Truist Financial raised their price objective on Generac from $160.00 to $170.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. Finally, Scotiabank upped their target price on shares of Generac from $147.00 to $160.00 and gave the company a sector perform rating in a research report on Monday, July 29th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Generac currently has an average rating of Hold and an average price target of $153.52.

Generac Price Performance

Shares of GNRC stock traded up $4.48 during trading hours on Thursday, reaching $147.35. The company had a trading volume of 677,293 shares, compared to its average volume of 1,005,172. Generac has a 12-month low of $79.86 and a 12-month high of $169.57. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 39.36, a PEG ratio of 1.93 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.25. The stock has a fifty day moving average of $144.91 and a 200-day moving average of $132.44.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The company had revenue of $998.20 million during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the business earned $1.08 EPS. The firm’s quarterly revenue was down .2% on a year-over-year basis. On average, equities analysts anticipate that Generac will post 6.3 earnings per share for the current year.

Insider Activity at Generac

In other news, insider Patrick John Forsythe sold 65,855 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the completion of the sale, the insider now owns 19,815 shares in the company, valued at $2,889,027. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Patrick John Forsythe sold 65,855 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 19,815 shares in the company, valued at $2,889,027. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Monday, July 1st. The shares were sold at an average price of $133.39, for a total transaction of $666,950.00. Following the completion of the transaction, the chief executive officer now owns 577,177 shares in the company, valued at $76,989,640.03. The disclosure for this sale can be found here. Insiders sold a total of 75,785 shares of company stock worth $11,020,661 in the last 90 days. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. National Bank of Canada FI increased its position in Generac by 80.4% during the 2nd quarter. National Bank of Canada FI now owns 30,918 shares of the technology company’s stock worth $4,118,000 after purchasing an additional 13,784 shares during the period. First Dallas Securities Inc. purchased a new stake in Generac during the second quarter worth $3,177,000. TD Asset Management Inc grew its stake in Generac by 3.5% in the 2nd quarter. TD Asset Management Inc now owns 11,478 shares of the technology company’s stock valued at $1,518,000 after acquiring an additional 390 shares during the last quarter. Belpointe Asset Management LLC acquired a new position in Generac during the second quarter worth about $796,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Generac by 22,727.3% in the second quarter. Larson Financial Group LLC now owns 2,511 shares of the technology company’s stock valued at $332,000 after purchasing an additional 2,500 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

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.