Generac (NYSE:GNRC) Price Target Raised to $156.00 at Wells Fargo & Company

Generac (NYSE:GNRC) had its price objective hoisted by Wells Fargo & Company from $139.00 to $156.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

A number of other research analysts have also recently commented on GNRC. StockNews.com cut shares of Generac from a buy rating to a hold rating in a research report on Wednesday, July 3rd. Guggenheim lowered shares of Generac from a neutral rating to a sell rating and set a $120.00 price objective on the stock. in a report on Thursday, May 30th. Scotiabank raised their target price on Generac from $147.00 to $160.00 and gave the company a sector perform rating in a research note on Monday. JPMorgan Chase & Co. lifted their target price on Generac from $149.00 to $155.00 and gave the stock a neutral rating in a research report on Tuesday, July 16th. Finally, TD Cowen increased their price target on Generac from $144.00 to $172.00 and gave the company a buy rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Generac presently has an average rating of Hold and a consensus target price of $153.52.

Generac Stock Down 3.8 %

NYSE:GNRC traded down $5.59 during mid-day trading on Thursday, hitting $139.91. The company had a trading volume of 413,721 shares, compared to its average volume of 1,000,186. The business has a fifty day simple moving average of $145.02 and a 200-day simple moving average of $132.07. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 40.08, a PEG ratio of 2.11 and a beta of 1.37. Generac has a 1 year low of $79.86 and a 1 year high of $169.57. The company has a current ratio of 2.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRC) last posted 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. The business had revenue of $998.20 million during the quarter, compared to analyst estimates of $1 billion. Generac had a return on equity of 15.38% and a net margin of 6.03%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.08 earnings per share. Equities analysts forecast that Generac will post 6.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $133.39, for a total transaction of $666,950.00. Following the completion of the transaction, the chief executive officer now directly owns 577,177 shares of the company’s stock, valued at $76,989,640.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Patrick John Forsythe sold 65,855 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total value of $9,601,659.00. Following the sale, the insider now directly owns 19,815 shares in the company, valued at approximately $2,889,027. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $133.39, for a total transaction of $666,950.00. Following the sale, the chief executive officer now owns 577,177 shares in the company, valued at $76,989,640.03. The disclosure for this sale can be found here. Insiders have sold 75,785 shares of company stock valued at $11,020,661 over the last quarter. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Generac

Institutional investors and hedge funds have recently bought and sold shares of the stock. DAVENPORT & Co LLC raised its holdings in Generac by 22.1% during the fourth quarter. DAVENPORT & Co LLC now owns 25,789 shares of the technology company’s stock worth $3,333,000 after purchasing an additional 4,676 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Generac by 2.6% in the 4th quarter. Arizona State Retirement System now owns 17,400 shares of the technology company’s stock worth $2,249,000 after acquiring an additional 433 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Generac during the fourth quarter worth $17,956,000. Arkadios Wealth Advisors lifted its holdings in shares of Generac by 120.2% during the fourth quarter. Arkadios Wealth Advisors now owns 4,852 shares of the technology company’s stock valued at $627,000 after purchasing an additional 2,649 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of Generac by 69.2% in the 4th quarter. Allworth Financial LP now owns 2,472 shares of the technology company’s stock valued at $319,000 after purchasing an additional 1,011 shares during the period. Institutional investors own 84.04% of the company’s stock.

Generac Company Profile

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.