Generac (NYSE:GNRC) Price Target Cut to $171.00 by Analysts at Robert W. Baird

Generac (NYSE:GNRC) had its price objective decreased by Robert W. Baird from $172.00 to $171.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target indicates a potential upside of 12.24% from the company’s current price.

GNRC has been the subject of several other research reports. Truist Financial lowered their price objective on shares of Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Citigroup dropped their price objective on Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. The Goldman Sachs Group lifted their price target 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. Barclays began coverage on Generac in a report on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 price objective for the company. Finally, Piper Sandler cut their price target on shares of Generac from $200.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $173.05.

Generac Stock Performance

Shares of GNRC opened at $152.35 on Thursday. The company has a market capitalization of $9.06 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42. The company’s fifty day moving average price is $157.62 and its 200 day moving average price is $160.69. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. Generac has a one year low of $108.89 and a one year high of $195.94.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.31. Generac had a return on equity of 16.70% and a net margin of 7.17%. As a group, analysts expect that Generac will post 6.91 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the completion of the sale, the chief executive officer now owns 565,825 shares of the company’s stock, valued at approximately $82,129,498.75. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Generac

Large investors have recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Generac in the fourth quarter worth approximately $90,913,000. Boston Partners increased its position in shares of Generac by 39.0% in the fourth quarter. Boston Partners now owns 1,903,297 shares of the technology company’s stock valued at $295,123,000 after acquiring an additional 533,612 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Generac by 81.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company’s stock valued at $161,684,000 after acquiring an additional 469,575 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Generac by 133.6% during the fourth quarter. Jennison Associates LLC now owns 672,213 shares of the technology company’s stock worth $104,227,000 after purchasing an additional 384,434 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Generac in the fourth quarter worth about $46,785,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

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.