JPMorgan Chase & Co. Boosts Generac (NYSE:GNRC) Price Target to $178.00

Generac (NYSE:GNRC) had its price objective upped by JPMorgan Chase & Co. from $160.00 to $178.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

A number of other brokerages also recently issued reports on GNRC. The Goldman Sachs Group increased their target price on Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Canaccord Genuity Group increased their price objective on Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Scotiabank raised their target price on Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. TD Cowen upped their price target on shares of Generac from $144.00 to $172.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird increased their price target on shares of Generac from $142.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Generac has an average rating of “Hold” and a consensus target price of $158.43.

Generac Stock Performance

NYSE:GNRC opened at $167.28 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99. The firm has a market cap of $10.14 billion, a price-to-earnings ratio of 46.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.38. The firm’s fifty day moving average price is $153.90 and its 200 day moving average price is $146.00. Generac has a 1-year low of $79.86 and a 1-year high of $176.14.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.15. The business had revenue of $998.20 million for the quarter, compared to the consensus estimate of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.08 earnings per share. On average, sell-side analysts expect that Generac will post 6.47 EPS for the current year.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the sale, the chief executive officer now owns 562,177 shares of the company’s stock, valued at $89,346,790.61. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

Institutional Trading of Generac

Hedge funds have recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of Generac during the fourth quarter worth $269,000. Centaurus Financial Inc. purchased a new position in shares of Generac during the 4th quarter worth about $104,000. American International Group Inc. boosted its position in shares of Generac by 0.6% in the fourth quarter. American International Group Inc. now owns 16,550 shares of the technology company’s stock worth $2,139,000 after acquiring an additional 93 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Generac by 432.9% in the fourth quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock worth $50,697,000 after acquiring an additional 318,664 shares during the last quarter. Finally, HighPoint Advisor Group LLC purchased a new stake in Generac in the fourth quarter valued at approximately $221,000. 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.