Generac (NYSE:GNRC) Price Target Raised to $210.00

Generac (NYSE:GNRC) had its price target raised by Stifel Nicolaus from $185.00 to $210.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other brokerages also recently commented on GNRC. The Goldman Sachs Group increased their price objective on shares of Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Northland Securities increased their price objective on shares of Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Stephens restated an “overweight” rating and issued a $200.00 price target on shares of Generac in a research report on Monday, August 5th. Finally, StockNews.com upgraded shares of Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.05.

Generac Stock Performance

Shares of Generac stock opened at $179.94 on Tuesday. The company has a 50 day moving average of $164.81 and a 200-day moving average of $152.34. Generac has a 1-year low of $108.89 and a 1-year high of $195.94. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The company has a market cap of $10.71 billion, a PE ratio of 37.33, a price-to-earnings-growth ratio of 2.23 and a beta of 1.37.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating the consensus estimate of $1.98 by $0.27. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.64 EPS. As a group, equities research analysts forecast that Generac will post 6.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Generac news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total value of $585,069.46. Following the transaction, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at approximately $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO York A. Ragen sold 29,081 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the transaction, the chief financial officer now directly owns 135,613 shares in the company, valued at $25,051,789.49. This trade represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,268 shares of company stock worth $7,584,853. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Brooklyn Investment Group bought a new position in shares of Generac in the third quarter valued at $31,000. SouthState Corp bought a new position in shares of Generac during the third quarter valued at about $32,000. Sunbelt Securities Inc. lifted its position in shares of Generac by 97.1% during the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. EntryPoint Capital LLC lifted its position in shares of Generac by 73.2% during the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after purchasing an additional 90 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Generac by 73.5% during the third quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock valued at $36,000 after purchasing an additional 97 shares in the last quarter. 84.04% of the stock is owned by 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.