Generac (NYSE:GNRC) Price Target Raised to $178.00 at JPMorgan Chase & Co.

Generac (NYSE:GNRC) had its price target boosted by JPMorgan Chase & Co. from $160.00 to $178.00 in a report published on Thursday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on the company. Truist Financial boosted their target price on Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday. Roth Mkm increased their target price on shares of Generac from $135.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, July 29th. The Goldman Sachs Group boosted their price target on Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird raised their price target on Generac from $142.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Wells Fargo & Company upped their price target on shares of Generac from $139.00 to $156.00 and gave the company an “equal weight” 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 eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $158.43.

Generac Stock Performance

Shares of GNRC opened at $168.39 on Thursday. The company’s 50 day simple moving average is $153.45 and its 200-day simple moving average is $145.60. The firm has a market cap of $10.21 billion, a PE ratio of 46.39, a price-to-earnings-growth ratio of 2.22 and a beta of 1.38. Generac has a 12-month low of $79.86 and a 12-month high of $176.14. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61.

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

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’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 sale, the chief executive officer now directly owns 562,177 shares of the company’s stock, valued at approximately $89,346,790.61. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Optimum Investment Advisors acquired a new stake in Generac during the third quarter worth about $99,000. Cornerstone Wealth Management LLC acquired a new stake in Generac during the 3rd quarter worth approximately $227,000. Rheos Capital Works Inc. acquired a new stake in Generac during the 3rd quarter worth approximately $4,766,000. LaFleur & Godfrey LLC lifted its position in Generac by 43.3% during the third quarter. LaFleur & Godfrey LLC now owns 62,150 shares of the technology company’s stock valued at $9,874,000 after buying an additional 18,785 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC lifted its position in Generac by 3.7% during the third quarter. Hunter Perkins Capital Management LLC now owns 5,330 shares of the technology company’s stock valued at $847,000 after buying an additional 190 shares in the last quarter. Institutional investors and hedge funds 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.