Generac (NYSE:GNRC) Stock Price Expected to Rise, TD Cowen Analyst Says

Generac (NYSE:GNRC) had its price objective lifted by stock analysts at TD Cowen from $172.00 to $183.00 in a report released on Friday, MarketBeat reports. The brokerage currently has a “buy” rating on the technology company’s stock. TD Cowen’s price target points to a potential upside of 8.34% from the company’s current price.

GNRC has been the subject of several other research reports. Canaccord Genuity Group lifted their price objective on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stephens reaffirmed an “overweight” rating and set a $200.00 target price on shares of Generac in a report on Monday, August 5th. Northland Securities boosted their price target on Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Piper Sandler raised their price objective on Generac from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $175.00 target price (up from $145.00) on shares of Generac in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $169.10.

Generac Price Performance

Shares of NYSE GNRC opened at $168.91 on Friday. Generac has a twelve month low of $98.27 and a twelve month high of $176.14. The company has a market cap of $10.16 billion, a PE ratio of 35.04, a price-to-earnings-growth ratio of 2.13 and a beta of 1.37. The business’s 50 day moving average price is $157.17 and its two-hundred day moving average price is $148.31. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. On average, analysts predict that Generac will post 6.49 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the transaction, the chief executive officer now owns 562,177 shares in the company, valued at $89,346,790.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. EntryPoint Capital LLC grew its position in shares of Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after buying an additional 90 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in Generac by 97.1% in the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Capital Advisors Ltd. LLC increased 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. Blue Trust Inc. raised its holdings in Generac by 73.5% during the 3rd quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock worth $36,000 after purchasing an additional 97 shares during the last quarter. Finally, Fairfield Financial Advisors LTD acquired a new position in shares of Generac in the 2nd quarter worth approximately $38,000. 84.04% of the stock is owned by 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.