Generac (NYSE:GNRC) Price Target Raised to $288.00

Generac (NYSE:GNRC) had its price target hoisted by Needham & Company LLC from $283.00 to $288.00 in a report released on Thursday, MarketBeat reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other brokerages have also issued reports on GNRC. Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a report on Thursday. Piper Sandler cut their target price on shares of Generac from $303.00 to $279.00 and set an “overweight” rating on the stock in a research report on Friday, October 23rd. Zacks Research cut shares of Generac from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Barclays upped their price target on shares of Generac from $278.00 to $281.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, Stifel Nicolaus raised their price objective on Generac from $290.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $290.41.

Generac Price Performance

Shares of GNRC opened at $197.70 on Thursday. The company has a current ratio of 1.97, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. The company’s fifty day simple moving average is $199.18 and its 200 day simple moving average is $217.49. Generac has a 1-year low of $134.80 and a 1-year high of $296.44. The company has a market cap of $11.67 billion, a price-to-earnings ratio of 39.15, a PEG ratio of 1.69 and a beta of 1.91.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, October 28th. The technology company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.14. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Generac had a net margin of 6.52% and a return on equity of 18.78%. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.83 earnings per share. On average, research analysts forecast that Generac will post 9.80 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Generac news, insider Norman P. Taffe sold 150 shares of the company’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $220.00, for a total transaction of $33,000.00. Following the sale, the insider directly owned 10,976 shares of the company’s stock, valued at $2,414,720. This represents a 1.35% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $206.00, for a total transaction of $1,030,000.00. Following the transaction, the chief executive officer owned 544,528 shares of the company’s stock, valued at $112,172,768. This represents a 0.91% 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. In the last 90 days, insiders sold 18,442 shares of company stock valued at $3,656,537. 2.40% of the stock is owned by insiders.

Institutional Trading of Generac

Several hedge funds and other institutional investors have recently modified their holdings of GNRC. N.E.W. Advisory Services LLC purchased a new position in Generac in the 2nd quarter worth $25,000. Avalon Trust Co bought a new stake in Generac in the first quarter worth $32,000. Essential Partners LLC lifted its stake in Generac by 57.0% in the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after purchasing an additional 61 shares during the last quarter. Root Financial Partners LLC boosted its position in Generac by 32.9% during the first quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock valued at $43,000 after buying an additional 54 shares during the period. Finally, Fiduciary Financial Advisors purchased a new stake in Generac during the second quarter valued at about $50,000. Institutional investors own 84.04% of the company’s stock.

About Generac

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.