Generac (NYSE:GNRC) Earns Buy Rating from Analysts at Bank of America

Equities researchers at Bank of America began coverage on shares of Generac (NYSE:GNRC) in a research report issued to clients and investors on Monday. The firm set a “buy” rating and a $182.00 price target on the technology company’s stock. Bank of America‘s price objective suggests a potential upside of 33.17% from the company’s current price.

Several other brokerages have also recently weighed in on GNRC. Truist Financial decreased their price target on shares of Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group decreased their price target on shares of Generac from $193.00 to $168.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus decreased their price target on shares of Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company decreased their target price on shares of Generac from $175.00 to $165.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Finally, Piper Sandler decreased their target price on shares of Generac from $185.00 to $175.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Ten equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.38.

Generac Stock Up 3.9 %

NYSE GNRC traded up $5.15 during trading hours on Monday, reaching $136.67. 59,704 shares of the company’s stock were exchanged, compared to its average volume of 876,780. The company’s 50-day moving average is $143.39 and its two-hundred day moving average is $158.13. Generac has a one year low of $115.76 and a one year high of $195.94. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 25.33, a price-to-earnings-growth ratio of 1.44 and a beta of 1.50.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.31. Generac had a return on equity of 18.17% and a net margin of 7.36%. On average, analysts forecast that Generac will post 8 EPS for the current fiscal year.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $145.15, for a total value of $725,750.00. Following the transaction, the chief executive officer now directly owns 565,825 shares of the company’s stock, valued at $82,129,498.75. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Generac

Several hedge funds and other institutional investors have recently bought and sold shares of GNRC. Hurley Capital LLC acquired a new position in Generac in the fourth quarter valued at $26,000. Modus Advisors LLC bought a new stake in Generac in the fourth quarter valued at $27,000. Versant Capital Management Inc increased its position in shares of Generac by 391.9% during the fourth quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock worth $28,000 after acquiring an additional 145 shares in the last quarter. Cranbrook Wealth Management LLC bought a new stake in shares of Generac during the fourth quarter worth about $28,000. Finally, Brooklyn Investment Group bought a new stake in shares of Generac during the third quarter worth about $31,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

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.