Generac (NYSE:GNRC) PT Raised to $172.00 at Citigroup

Generac (NYSE:GNRC) had its target price boosted by Citigroup from $128.00 to $172.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Citigroup’s target price would suggest a potential upside of 2.68% from the company’s previous close.

Several other equities analysts have also issued reports on GNRC. Piper Sandler boosted their target price on shares of Generac from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Northland Securities increased their price objective on shares of Generac from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their price target on shares of Generac from $142.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Wells Fargo & Company upped their target price on shares of Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $175.00 target price (up previously from $145.00) on shares of Generac in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Generac currently has a consensus rating of “Hold” and an average target price of $165.40.

Generac Trading Up 0.5 %

NYSE:GNRC traded up $0.86 during trading hours on Tuesday, hitting $167.51. 296,132 shares of the company were exchanged, compared to its average volume of 955,901. Generac has a one year low of $79.86 and a one year 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. The stock has a market capitalization of $10.15 billion, a price-to-earnings ratio of 46.15, a price-to-earnings-growth ratio of 2.22 and a beta of 1.38. The company has a fifty day simple moving average of $154.37 and a 200 day simple moving average of $146.37.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share 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 the consensus estimate of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS. Sell-side analysts expect that Generac will post 6.47 EPS for the current fiscal year.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the sale, the chief executive officer now 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Generac

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. William Blair Investment Management LLC purchased a new stake in shares of Generac during the 2nd quarter valued at approximately $98,282,000. DAVENPORT & Co LLC lifted its position in shares of Generac by 831.1% during the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after acquiring an additional 214,322 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of Generac by 29.2% in the second quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after acquiring an additional 103,439 shares during the period. Mackenzie Financial Corp grew its position in shares of Generac by 21.4% in the second quarter. Mackenzie Financial Corp now owns 420,121 shares of the technology company’s stock valued at $55,548,000 after purchasing an additional 74,115 shares in the last quarter. Finally, Bridges Investment Management Inc. raised its stake in shares of Generac by 75.7% during the 2nd quarter. Bridges Investment Management Inc. now owns 157,204 shares of the technology company’s stock valued at $20,786,000 after purchasing an additional 67,728 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.