Generac (NYSE:GNRC) Price Target Increased to $190.00 by Analysts at Piper Sandler

Generac (NYSE:GNRC) had its target price increased by equities research analysts at Piper Sandler from $175.00 to $190.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Piper Sandler’s price target indicates a potential upside of 9.06% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $175.00 price objective (up previously from $145.00) on shares of Generac in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their target price on shares of Generac from $149.00 to $155.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. TD Cowen raised their target price on shares of Generac from $144.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Robert W. Baird raised their target price on shares of Generac from $142.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Scotiabank raised their target price on shares of Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Generac has a consensus rating of “Hold” and a consensus target price of $157.33.

Generac Stock Up 2.3 %

Shares of NYSE GNRC opened at $174.21 on Thursday. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. Generac has a 52 week low of $79.86 and a 52 week high of $175.86. The firm has a 50-day moving average price of $152.91 and a 200 day moving average price of $145.44. The stock has a market capitalization of $10.56 billion, a price-to-earnings ratio of 47.99, a price-to-earnings-growth ratio of 2.22 and a beta of 1.38.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.20 by $0.15. Generac had a net margin of 6.03% and a return on equity of 15.35%. The firm had revenue of $998.20 million during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter last year, the business earned $1.08 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. Equities research analysts anticipate that Generac will post 6.47 EPS for the current fiscal year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’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 sale, the chief executive officer now directly owns 562,177 shares in the company, valued at approximately $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 can be accessed through the SEC website. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Capital World Investors raised its holdings in Generac by 2.1% in the first quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock valued at $155,207,000 after acquiring an additional 25,646 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Generac in the second quarter valued at $98,282,000. Dimensional Fund Advisors LP raised its holdings in Generac by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock valued at $92,941,000 after acquiring an additional 35,026 shares in the last quarter. Ninety One UK Ltd raised its holdings in Generac by 0.7% in the second quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock valued at $68,720,000 after acquiring an additional 3,849 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in Generac by 29.2% in the second quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock valued at $60,487,000 after acquiring an additional 103,439 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.