Piper Sandler Reaffirms “Overweight” Rating for Generac (NYSE:GNRC)

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

Several other research analysts also recently issued reports on the company. Roth Mkm upped their price objective on Generac from $135.00 to $160.00 and gave the stock a neutral rating in a report on Monday, July 29th. Guggenheim lowered Generac from a neutral rating to a sell rating and set a $120.00 price target on the stock. in a research note on Thursday, May 30th. Stifel Nicolaus reiterated a buy rating and issued a $175.00 price objective (up from $145.00) on shares of Generac in a research report on Thursday, August 1st. StockNews.com upgraded shares of Generac from a hold rating to a buy rating in a research report on Friday, September 20th. Finally, Robert W. Baird lifted their price target on shares of Generac from $142.00 to $163.00 and gave the stock a neutral rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Generac currently has an average rating of Hold and an average price target of $154.71.

Generac Price Performance

Generac stock opened at $154.82 on Tuesday. Generac has a 52 week low of $79.86 and a 52 week high of $169.57. The firm has a market cap of $9.38 billion, a P/E ratio of 42.65, a P/E/G ratio of 1.88 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25. The business’s fifty day moving average is $148.58 and its two-hundred day moving average is $140.78.

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

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the 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 sale, the chief executive officer now directly owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Generac

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. DAVENPORT & Co LLC raised its stake in shares of Generac by 831.1% in the 1st quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock valued at $30,288,000 after purchasing an additional 214,322 shares during the period. Capital World Investors acquired a new stake in Generac in the 4th quarter valued at approximately $155,707,000. Kampmann Melissa S. bought a new stake in Generac in the 4th quarter valued at approximately $750,000. Bank of Nova Scotia boosted its position in Generac by 1,350.9% during the 4th quarter. Bank of Nova Scotia now owns 32,559 shares of the technology company’s stock worth $4,208,000 after acquiring an additional 30,315 shares during the last quarter. Finally, Epoch Investment Partners Inc. bought a new position in shares of Generac during the 1st quarter worth approximately $1,053,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

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.