Piper Sandler Forecasts Strong Price Appreciation for Generac (NYSE:GNRC) Stock

Generac (NYSE:GNRC) had its price objective increased by equities research analysts at Piper Sandler from $190.00 to $200.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price objective indicates a potential upside of 5.78% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on GNRC. Citigroup increased their price objective on shares of Generac from $128.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus raised their price objective on Generac from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Canaccord Genuity Group upped their target price on Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Stephens reissued an “overweight” rating and issued a $200.00 price target on shares of Generac in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One 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 stock. According to MarketBeat, Generac currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.58.

Generac Trading Up 3.0 %

NYSE GNRC opened at $189.08 on Friday. The stock has a market capitalization of $11.25 billion, a P/E ratio of 39.23, a P/E/G ratio of 2.25 and a beta of 1.37. The business has a 50 day simple moving average of $168.12 and a 200 day simple moving average of $153.44. 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 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. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. Generac’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 EPS. Research analysts expect that Generac will post 6.8 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. William Blair Investment Management LLC bought a new stake in Generac in the 2nd quarter valued at about $98,282,000. The Manufacturers Life Insurance Company increased its stake in shares of Generac by 114.8% in the third quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock worth $88,944,000 after purchasing an additional 299,205 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Generac in the third quarter valued at approximately $45,722,000. International Assets Investment Management LLC lifted its stake in shares of Generac by 25,311.7% during the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock valued at $42,433,000 after buying an additional 266,026 shares in the last quarter. Finally, Stephens Investment Management Group LLC boosted its holdings in Generac by 678.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock worth $30,560,000 after buying an additional 167,641 shares during the period. Hedge funds and other institutional investors 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.