Generac (NYSE:GNRC) Given New $200.00 Price Target at Piper Sandler

Generac (NYSE:GNRC) had its price target hoisted by Piper Sandler from $190.00 to $200.00 in a research report report published on Friday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other equities research analysts also recently weighed in on GNRC. Truist Financial upped their target price on shares of Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on shares of Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Canaccord Genuity Group increased their price objective on shares of Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Stephens reissued an “overweight” rating and issued a $200.00 price objective on shares of Generac in a research report on Monday, August 5th. Finally, Wells Fargo & Company increased their price objective on shares of Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.58.

Generac Stock Performance

NYSE:GNRC opened at $189.08 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The firm has a market capitalization of $11.25 billion, a price-to-earnings ratio of 39.23, a PEG ratio of 2.25 and a beta of 1.37. The company’s 50-day moving average is $167.15 and its two-hundred day moving average is $153.07. Generac has a 1-year low of $108.89 and a 1-year high of $195.94.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping the consensus estimate of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business posted $1.64 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Analysts forecast that Generac will post 6.8 EPS for the current year.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $166.60, for a total value of $833,000.00. Following the completion of the sale, the chief executive officer now owns 557,177 shares in the company, valued at approximately $92,825,688.20. This trade represents a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the sale, the executive vice president now owns 10,738 shares of the company’s stock, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,268 shares of company stock worth $7,584,853 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Generac

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new stake in shares of Generac in the third quarter valued at about $31,000. SouthState Corp purchased a new position in Generac during the 3rd quarter valued at about $32,000. Sunbelt Securities Inc. increased its holdings in Generac by 97.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. EntryPoint Capital LLC grew its holdings in shares of 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 buying an additional 90 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Generac by 73.5% during the third quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock worth $36,000 after buying an additional 97 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.