Wells Fargo & Company Issues Pessimistic Forecast for Generac (NYSE:GNRC) Stock Price

Generac (NYSE:GNRC) had its price objective lowered by Wells Fargo & Company from $175.00 to $165.00 in a research note published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. UBS Group lifted their price objective on shares of Generac from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday. The Goldman Sachs Group upped their price objective on Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Cowen raised their target price on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Roth Mkm upped their price target on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Truist Financial cut their price objective on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. One 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’s stock. Based on data from MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.00.

Generac Price Performance

Shares of NYSE GNRC opened at $146.80 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 30.46, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42. The stock’s 50-day moving average is $156.31 and its two-hundred day moving average is $160.57. Generac has a 1-year low of $108.89 and a 1-year high of $195.94.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.31. Generac had a net margin of 7.17% and a return on equity of 16.70%. Analysts forecast that Generac will post 6.91 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 that occurred on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total transaction of $725,750.00. Following the transaction, the chief executive officer now owns 565,825 shares in the company, valued at approximately $82,129,498.75. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.90% of the stock is owned by insiders.

Institutional Trading of Generac

Institutional investors have recently modified their holdings of the business. BlueCrest Capital Management Ltd acquired a new stake in Generac in the fourth quarter valued at $313,000. Kapitalo Investimentos Ltda purchased a new position in shares of Generac in the 4th quarter valued at about $102,000. Schonfeld Strategic Advisors LLC lifted its stake in shares of Generac by 17.0% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 28,727 shares of the technology company’s stock valued at $4,454,000 after purchasing an additional 4,184 shares during the period. Lido Advisors LLC boosted its holdings in Generac by 16.2% during the fourth quarter. Lido Advisors LLC now owns 3,667 shares of the technology company’s stock worth $569,000 after buying an additional 512 shares in the last quarter. Finally, Northern Trust Corp grew its position in Generac by 8.8% during the fourth quarter. Northern Trust Corp now owns 561,791 shares of the technology company’s stock worth $87,106,000 after buying an additional 45,467 shares during the period. 84.04% of the stock is currently 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.