Generac (NYSE:GNRC) Price Target Raised to $290.00

Generac (NYSE:GNRC) had its price target lifted by Stifel Nicolaus from $285.00 to $290.00 in a research note released on Wednesday, Marketbeat Ratings reports. They currently have a buy rating on the technology company’s stock.

A number of other equities analysts have also recently weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and set a $333.00 price objective on shares of Generac in a report on Wednesday, September 16th. Citigroup reduced their price target on shares of Generac from $300.00 to $232.00 and set a “neutral” rating on the stock in a research report on Wednesday. Roth Capital lifted their price target on shares of Generac from $214.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, September 17th. UBS Group restated a “buy” rating on shares of Generac in a report on Friday, September 25th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a research note on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Generac presently has a consensus rating of “Moderate Buy” and an average price target of $292.25.

Generac Stock Up 4.5%

Shares of NYSE GNRC opened at $217.24 on Wednesday. The business has a 50-day simple moving average of $200.61 and a two-hundred day simple moving average of $226.01. The company has a market cap of $12.82 billion, a P/E ratio of 50.06, a P/E/G ratio of 1.78 and a beta of 1.91. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. Generac has a 52 week low of $134.80 and a 52 week high of $296.44.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the firm posted $1.65 earnings per share. Generac’s quarterly revenue was up 10.3% on a year-over-year basis. Research analysts anticipate that Generac will post 9.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Norman P. Taffe sold 550 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total transaction of $120,356.50. Following the completion of the sale, the insider directly owned 15,508 shares in the company, valued at approximately $3,393,615.64. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $229.50, for a total value of $138,388.50. Following the completion of the sale, the insider owned 10,356 shares of the company’s stock, valued at approximately $2,376,702. This trade represents a 5.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,839 shares of company stock valued at $3,549,973 in the last ninety days. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Generac

A number of hedge funds and other institutional investors have recently made changes to their positions in GNRC. QRG Capital Management Inc. raised its holdings in shares of Generac by 18.8% during the second quarter. QRG Capital Management Inc. now owns 4,836 shares of the technology company’s stock valued at $1,416,000 after purchasing an additional 764 shares during the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Generac by 5.6% in the second quarter. Sequoia Financial Advisors LLC now owns 6,417 shares of the technology company’s stock worth $1,879,000 after purchasing an additional 341 shares during the last quarter. Tidal Investments LLC grew its position in Generac by 94.3% in the 2nd quarter. Tidal Investments LLC now owns 55,302 shares of the technology company’s stock worth $16,193,000 after purchasing an additional 26,836 shares during the period. WINTON GROUP Ltd bought a new stake in Generac in the 2nd quarter worth approximately $1,260,000. Finally, Engineers Gate Manager LP purchased a new stake in Generac during the 2nd quarter valued at $688,000. Institutional investors own 84.04% of the company’s stock.

About Generac

Generac Holdings Inc is an energy technology company that designs and manufactures power generation equipment, energy storage systems and other products intended to provide backup and distributed energy solutions. Its offerings serve residential, commercial, industrial and other users seeking standby power, portable power or greater control over energy use.

The company’s product portfolio includes home standby generators, portable generators, commercial and industrial generators, mobile power equipment, engines and related transfer switches and controls.