Generac (NYSE:GNRC) PT Raised to $175.00 at Oppenheimer

Generac (NYSE:GNRC) had its price objective raised by research analysts at Oppenheimer from $120.00 to $175.00 in a report released on Friday, The Fly reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective points to a potential upside of 11.05% from the company’s previous close.

A number of other equities analysts also recently issued reports on GNRC. Stifel Nicolaus increased their price target on shares of Generac from $109.00 to $111.00 and gave the company a “hold” rating in a report on Friday, May 1st. UBS Group started coverage on shares of Generac in a research report on Thursday, June 25th. They set a “buy” rating and a $145.00 price target for the company. Zacks Investment Research upgraded Generac from a “hold” rating to a “buy” rating and set a $137.00 price target on the stock in a report on Wednesday, July 1st. Canaccord Genuity raised Generac from a “hold” rating to a “buy” rating and raised their price objective for the company from $113.00 to $200.00 in a research note on Friday. Finally, KeyCorp reiterated a “hold” rating on shares of Generac in a research report on Monday, July 20th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $141.73.

NYSE GNRC opened at $157.58 on Friday. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 39.40, a PEG ratio of 5.49 and a beta of 0.92. The business’s 50 day moving average is $123.91 and its two-hundred day moving average is $108.31. Generac has a 12-month low of $69.00 and a 12-month high of $157.65. The company has a current ratio of 2.66, a quick ratio of 1.34 and a debt-to-equity ratio of 0.94.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Thursday, July 30th. The technology company reported $1.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.48. The firm had revenue of $546.80 million for the quarter, compared to the consensus estimate of $476.86 million. Generac had a return on equity of 32.25% and a net margin of 11.55%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.20 earnings per share. Equities analysts forecast that Generac will post 4.42 earnings per share for the current fiscal year.

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $124.63, for a total transaction of $623,150.00. Following the sale, the chief executive officer now directly owns 676,240 shares of the company’s stock, valued at approximately $84,279,791.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Russell S. Minick sold 32,686 shares of Generac stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $99.70, for a total transaction of $3,258,794.20. Following the sale, the chief marketing officer now owns 14,150 shares of the company’s stock, valued at $1,410,755. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,978 shares of company stock worth $5,709,935. 2.90% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Advisors Inc. raised its holdings in Generac by 1,240.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 201 shares of the technology company’s stock valued at $25,000 after acquiring an additional 186 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of Generac by 158.9% in the second quarter. First Horizon Advisors Inc. now owns 233 shares of the technology company’s stock valued at $28,000 after purchasing an additional 143 shares during the period. OmniStar Financial Group Inc. acquired a new position in Generac in the first quarter valued at $29,000. Exchange Traded Concepts LLC purchased a new position in Generac during the first quarter worth about $34,000. Finally, Canton Hathaway LLC acquired a new stake in Generac in the 2nd quarter worth about $46,000. Hedge funds and other institutional investors own 98.47% of the company’s stock.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.

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