Generac (NYSE:GNRC) Price Target Raised to $210.00

Generac (NYSE:GNRC) had its target price raised by Stifel Nicolaus from $185.00 to $210.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity Group lifted their price objective on Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company raised their price objective on Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a report 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. The Goldman Sachs Group raised their price target on shares of Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Robert W. Baird lowered their target price on Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.05.

Generac Stock Performance

NYSE GNRC opened at $183.57 on Tuesday. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. Generac has a twelve month low of $108.89 and a twelve month high of $195.94. The stock has a 50-day moving average of $166.29 and a 200 day moving average of $152.86. The stock has a market capitalization of $10.92 billion, a price-to-earnings ratio of 38.09, a PEG ratio of 2.20 and a beta of 1.37.

Generac (NYSE:GNRC) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) 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%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 EPS. Sell-side analysts anticipate that Generac will post 6.8 EPS for the current fiscal year.

Insider Buying and Selling at Generac

In other 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 of the company’s stock, valued at approximately $89,346,790.61. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the sale, the executive vice president now directly owns 10,738 shares in the company, valued at approximately $1,971,282.04. The trade was a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock valued at $7,584,853 over the last quarter. 2.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors raised its holdings in shares of Generac by 2.1% in the 1st quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock valued at $155,207,000 after purchasing an additional 25,646 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Generac during the 2nd quarter worth about $98,282,000. Dimensional Fund Advisors LP boosted its position in shares of Generac by 5.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock worth $92,941,000 after acquiring an additional 35,026 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Generac by 114.8% in the third quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock valued at $88,944,000 after purchasing an additional 299,205 shares during the last quarter. Finally, Ninety One UK Ltd raised its stake in Generac by 0.7% during the 2nd quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock worth $68,720,000 after acquiring an additional 3,849 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

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.