Generac (NYSE:GNRC) Price Target Raised to $200.00

Generac (NYSE:GNRC) had its price target raised by Canaccord Genuity Group from $177.00 to $200.00 in a report published on Thursday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the technology company’s stock.

GNRC has been the subject of several other reports. Scotiabank boosted their price objective on shares of Generac from $147.00 to $160.00 and gave the stock a sector perform rating in a research note on Monday, July 29th. Robert W. Baird upped their price target on shares of Generac from $142.00 to $163.00 and gave the stock a neutral rating in a research report on Thursday. Guggenheim lowered Generac from a neutral rating to a sell rating and set a $120.00 price objective on the stock. in a research report on Thursday, May 30th. Janney Montgomery Scott cut Generac from a buy rating to a neutral rating and boosted their price objective for the stock from $126.00 to $154.00 in a research note on Thursday, June 13th. Finally, Truist Financial increased their target price on Generac from $160.00 to $170.00 and gave the company a buy rating in a research note on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $153.52.

Generac Trading Down 1.8 %

Shares of GNRC opened at $142.87 on Thursday. Generac has a twelve month low of $79.86 and a twelve month high of $169.57. The firm has a market capitalization of $8.66 billion, a P/E ratio of 39.36, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37. The company has a current ratio of 2.25, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. The stock’s fifty day simple moving average is $144.91 and its 200 day simple moving average is $132.31.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The company had revenue of $998.20 million during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the firm posted $1.08 earnings per share. The firm’s revenue was down .2% on a year-over-year basis. On average, equities research analysts forecast that Generac will post 6.3 earnings per share for the current year.

Insider Activity

In related news, Director Nam Tran Nguyen sold 546 shares of Generac stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $140.55, for a total value of $76,740.30. Following the completion of the transaction, the director now directly owns 3,512 shares in the company, valued at $493,611.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Nam Tran Nguyen sold 546 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $140.55, for a total transaction of $76,740.30. Following the transaction, the director now directly owns 3,512 shares in the company, valued at $493,611.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Patrick John Forsythe sold 65,855 shares of Generac stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the completion of the transaction, the insider now directly owns 19,815 shares of the company’s stock, valued at approximately $2,889,027. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,785 shares of company stock worth $11,020,661. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Generac

Several institutional investors and hedge funds have recently bought and sold shares of the business. ICA Group Wealth Management LLC bought a new position in shares of Generac during the fourth quarter valued at approximately $27,000. EntryPoint Capital LLC lifted its holdings in shares of Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after purchasing an additional 90 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in Generac by 611.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock valued at $34,000 after purchasing an additional 220 shares during the period. ORG Partners LLC bought a new position in Generac during the 4th quarter worth $38,000. Finally, Quarry LP increased its position in Generac by 219.6% in the fourth quarter. Quarry LP now owns 294 shares of the technology company’s stock worth $38,000 after buying an additional 202 shares during the period. 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.