Generac’s (GNRC) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Generac (NYSE:GNRC) in a report released on Tuesday, Benzinga reports. Piper Sandler currently has a $175.00 price target on the technology company’s stock.

Several other research firms have also recently commented on GNRC. Janney Montgomery Scott cut shares of Generac from a buy rating to a neutral rating and raised their target price for the stock from $126.00 to $154.00 in a research note on Thursday, June 13th. StockNews.com raised Generac from a hold rating to a buy rating in a report on Friday, September 20th. Stifel Nicolaus reissued a buy rating and issued a $175.00 price target (up from $145.00) on shares of Generac in a report on Thursday, August 1st. TD Cowen upped their price objective on Generac from $144.00 to $172.00 and gave the stock a buy rating in a report on Thursday, August 1st. Finally, Robert W. Baird increased their price objective on Generac from $142.00 to $163.00 and gave the stock a neutral rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $154.71.

Generac Price Performance

Shares of GNRC opened at $152.22 on Tuesday. The company has a market capitalization of $9.23 billion, a price-to-earnings ratio of 41.93, a price-to-earnings-growth ratio of 1.88 and a beta of 1.38. Generac has a fifty-two week low of $79.86 and a fifty-two week high of $169.57. The firm has a 50-day simple moving average of $148.61 and a 200-day simple moving average of $140.52. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1 billion. During the same period last year, the firm earned $1.08 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. On average, equities research analysts anticipate that Generac will post 6.5 earnings per share for the current year.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $133.39, for a total transaction of $666,950.00. Following the sale, the chief executive officer now directly owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Generac

Several hedge funds and other institutional investors have recently bought and sold shares of GNRC. Capital World Investors boosted its holdings in shares of Generac by 2.1% during the first quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock worth $155,207,000 after purchasing an additional 25,646 shares during the last quarter. William Blair Investment Management LLC purchased a new position in Generac during the second quarter worth about $98,282,000. Dimensional Fund Advisors LP boosted its stake in Generac by 5.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock worth $92,941,000 after buying an additional 35,026 shares during the last quarter. Norges Bank purchased a new stake in Generac in the 4th quarter valued at about $67,253,000. Finally, Ninety One UK Ltd increased its stake in shares of Generac by 0.7% during the 2nd quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock valued at $68,720,000 after acquiring an additional 3,849 shares during the last quarter. 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.