Generac (NYSE:GNRC) Price Target Raised to $172.00

by · The Markets Daily

Generac (NYSE:GNRC – Get Free Report) had its price objective raised by equities researchers at Citigroup from $128.00 to $172.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Citigroup’s price target would suggest a potential upside of 2.68% from the company’s current price.

Several other research firms have also weighed in on GNRC. Wells Fargo & Company increased their target price on shares of Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. The Goldman Sachs Group raised their target price on shares of Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stephens reiterated an “overweight” rating and issued a $200.00 price target on shares of Generac in a report on Monday, August 5th. Northland Securities increased their price objective 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. Finally, Piper Sandler boosted their price objective on shares of Generac from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Generac presently has an average rating of “Hold” and an average price target of $165.40.

View Our Latest Stock Analysis on Generac

Generac Price Performance

Shares of GNRC traded up $0.86 during mid-day trading on Tuesday, hitting $167.51. 296,132 shares of the company traded hands, compared to its average volume of 955,901. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average of $154.37 and a 200 day moving average of $146.37. Generac has a one year low of $79.86 and a one year high of $176.14. The stock has a market capitalization of $10.15 billion, a price-to-earnings ratio of 46.15, a PEG ratio of 2.22 and a beta of 1.38.

Generac (NYSE:GNRC – Get Free Report) last posted its quarterly earnings results 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 net margin of 6.03% and a return on equity of 15.35%. The business had revenue of $998.20 million during the quarter, compared to the consensus estimate of $1 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. Generac’s revenue for the quarter was down .2% compared to the same quarter last year. As a group, equities analysts expect that Generac will post 6.47 earnings per share for the current fiscal year.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was 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 $89,346,790.61. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of Generac

Several institutional investors and hedge funds have recently modified their holdings of GNRC. William Blair Investment Management LLC acquired a new position in Generac during the second quarter worth about $98,282,000. DAVENPORT & Co LLC boosted its position in Generac by 831.1% in the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock valued at $30,288,000 after buying an additional 214,322 shares in the last quarter. Blair William & Co. IL grew its stake in shares of Generac by 29.2% during the second quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after buying an additional 103,439 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of Generac by 21.4% during the second quarter. Mackenzie Financial Corp now owns 420,121 shares of the technology company’s stock worth $55,548,000 after buying an additional 74,115 shares in the last quarter. Finally, Bridges Investment Management Inc. lifted its stake in shares of Generac by 75.7% in the 2nd quarter. Bridges Investment Management Inc. now owns 157,204 shares of the technology company’s stock valued at $20,786,000 after acquiring an additional 67,728 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

Generac Company Profile

(Get Free Report)

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.

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