Generac (NYSE:GNRC) Receives “Overweight” Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of Generac (NYSE:GNRC) in a report released on Tuesday morning, Benzinga reports. Piper Sandler currently has a $175.00 target price on the technology company’s stock.

A number of other equities research analysts also recently weighed in on the company. Guggenheim downgraded Generac from a neutral rating to a sell rating and set a $120.00 price target for the company. in a research note on Thursday, May 30th. Canaccord Genuity Group boosted their target price on shares of Generac from $177.00 to $200.00 and gave the stock a buy rating in a research report on Thursday, August 1st. TD Cowen raised their price target on shares of Generac from $144.00 to $172.00 and gave the company a buy rating in a report on Thursday, August 1st. Roth Mkm upped their price objective on shares of Generac from $135.00 to $160.00 and gave the stock a neutral rating in a report on Monday, July 29th. Finally, Robert W. Baird raised their target price on Generac from $142.00 to $163.00 and gave the company a neutral rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $154.71.

Generac Price Performance

NYSE GNRC opened at $154.82 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 1.88 and a beta of 1.38. The company has a 50 day simple moving average of $148.58 and a 200-day simple moving average of $140.78. Generac has a 52-week low of $79.86 and a 52-week high of $169.57.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, beating 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 company had revenue of $998.20 million during the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the business posted $1.08 EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis. Equities research analysts predict that Generac will post 6.5 earnings per share for the current fiscal year.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $133.39, for a total value of $666,950.00. Following the completion of the transaction, the chief executive officer now directly owns 577,177 shares in the company, valued at $76,989,640.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GNRC. ICA Group Wealth Management LLC acquired a new position in shares of Generac in the 4th quarter worth approximately $27,000. EntryPoint Capital LLC raised its stake in Generac by 73.2% during the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after acquiring an additional 90 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Generac by 97.1% during the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after acquiring an additional 100 shares during the period. Capital Advisors Ltd. LLC boosted its stake in shares of Generac by 611.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock valued at $34,000 after purchasing an additional 220 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of Generac by 219.6% in the 4th quarter. Quarry LP now owns 294 shares of the technology company’s stock worth $38,000 after purchasing an additional 202 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

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.