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

Generac (NYSE:GNRC)‘s stock had its “overweight” rating reiterated by Piper Sandler in a report released on Tuesday, Benzinga reports. They presently have a $175.00 price objective on the technology company’s stock. Piper Sandler’s price target suggests a potential upside of 16.20% from the stock’s current price.

GNRC has been the topic of several other research reports. The Goldman Sachs Group raised their target price on shares of Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Guggenheim lowered Generac from a “neutral” rating to a “sell” rating and set a $120.00 price target for the company. in a research note on Thursday, May 30th. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a research report on Friday. Robert W. Baird upped their price objective on Generac from $142.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Scotiabank upped their target price on Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $154.71.

Generac Price Performance

Shares of NYSE:GNRC traded up $4.36 on Tuesday, hitting $150.60. The stock had a trading volume of 515,997 shares, compared to its average volume of 958,043. Generac has a twelve month low of $79.86 and a twelve month high of $169.57. The firm’s 50 day moving average price is $149.09 and its 200-day moving average price is $140.15. 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 company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 41.37, a price-to-earnings-growth ratio of 1.83 and a beta of 1.38.

Generac (NYSE:GNRC) last released 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. Generac had a return on equity of 15.35% and a net margin of 6.03%. The business had revenue of $998.20 million for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the business earned $1.08 earnings per share. Generac’s quarterly revenue was down .2% on a year-over-year basis. On average, equities research analysts predict that Generac will post 6.52 earnings per share for the current year.

Insider Buying and Selling at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Generac during the fourth quarter worth approximately $67,253,000. Corient Private Wealth LLC boosted its position in shares of Generac by 2.0% in the fourth quarter. Corient Private Wealth LLC now owns 29,002 shares of the technology company’s stock valued at $3,748,000 after acquiring an additional 558 shares during the period. Quest Partners LLC acquired a new stake in Generac during the fourth quarter worth $185,000. Intech Investment Management LLC acquired a new stake in Generac in the 4th quarter valued at $457,000. Finally, Hilltop Holdings Inc. boosted its stake in Generac by 55.3% in the fourth quarter. Hilltop Holdings Inc. now owns 3,068 shares of the technology company’s stock worth $397,000 after purchasing an additional 1,093 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.