Generac (NYSE:GNRC) Price Target Cut to $165.00 by Analysts at Wells Fargo & Company

Generac (NYSE:GNRC) had its price target reduced by Wells Fargo & Company from $175.00 to $165.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 9.79% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Truist Financial decreased their price target on shares of Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus dropped their target price on Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday. Citigroup decreased their price target on Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. TD Cowen raised their target price on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Robert W. Baird reduced their price target on shares of Generac from $172.00 to $171.00 and set a “neutral” rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.75.

Generac Trading Down 1.4 %

Shares of NYSE GNRC traded down $2.17 during midday trading on Thursday, reaching $150.28. 242,432 shares of the stock were exchanged, compared to its average volume of 827,361. Generac has a twelve month low of $108.89 and a twelve month high of $195.94. The stock has a market capitalization of $8.94 billion, a P/E ratio of 31.19, a PEG ratio of 1.44 and a beta of 1.42. The company has a 50 day simple moving average of $157.62 and a 200 day simple moving average of $160.69. 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 (NYSE:GNRC) last posted its earnings results on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.31. Generac had a return on equity of 16.70% and a net margin of 7.17%. As a group, equities analysts expect that Generac will post 6.91 earnings per share for the current year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $145.15, for a total value of $725,750.00. Following the completion of the transaction, the chief executive officer now owns 565,825 shares in the company, valued at $82,129,498.75. This represents a 0.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 2.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Generac

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GNRC. Norges Bank purchased a new position in shares of Generac during the fourth quarter valued at $90,913,000. Boston Partners grew its stake in Generac by 39.0% during the 4th quarter. Boston Partners now owns 1,903,297 shares of the technology company’s stock valued at $295,123,000 after acquiring an additional 533,612 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Generac by 81.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company’s stock valued at $161,684,000 after purchasing an additional 469,575 shares during the period. Jennison Associates LLC lifted its position in shares of Generac by 133.6% in the fourth quarter. Jennison Associates LLC now owns 672,213 shares of the technology company’s stock worth $104,227,000 after purchasing an additional 384,434 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Generac during the fourth quarter worth approximately $46,785,000. 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.