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

Generac (NYSE:GNRC) had its price objective boosted by Piper Sandler from $190.00 to $200.00 in a research note issued to investors on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the technology company’s stock.

Other research analysts have also recently issued reports about the stock. Northland Securities boosted their target price on shares of Generac from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Roth Mkm boosted their target price on shares of Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Stephens reissued an “overweight” rating and set a $200.00 target price on shares of Generac in a research report on Monday, August 5th. Wells Fargo & Company boosted their target price on shares of Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Canaccord Genuity Group boosted their target price on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One equities research 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.58.

Generac Price Performance

GNRC opened at $189.08 on Friday. The company’s 50 day simple moving average is $167.15 and its 200 day simple moving average is $153.07. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. Generac has a 1 year low of $108.89 and a 1 year high of $195.94. The stock has a market capitalization of $11.25 billion, a PE ratio of 39.23, a P/E/G ratio of 2.25 and a beta of 1.37.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. Generac’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.64 earnings per share. As a group, sell-side analysts expect that Generac will post 6.8 EPS for the current year.

Insider Buying and Selling at Generac

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the transaction, the executive vice president now owns 10,738 shares in the company, valued at approximately $1,971,282.04. This represents a 22.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the sale, the chief executive officer now directly owns 557,177 shares in the company, valued at approximately $92,825,688.20. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,268 shares of company stock worth $7,584,853 over the last 90 days. Insiders own 2.90% of the company’s stock.

Institutional Trading of Generac

A number of large investors have recently modified their holdings of GNRC. EntryPoint Capital LLC increased 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 acquiring an additional 90 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of Generac by 97.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after acquiring an additional 100 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Generac in the 3rd quarter worth about $31,000. SouthState Corp acquired a new stake in shares of Generac in the 3rd quarter worth about $32,000. Finally, Capital Advisors Ltd. LLC grew its position in Generac by 611.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock valued at $34,000 after buying an additional 220 shares in the last quarter. 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.