Piper Sandler Issues Positive Forecast for Generac (NYSE:GNRC) Stock Price

Generac (NYSE:GNRC) had its target price boosted by Piper Sandler from $190.00 to $200.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Several other equities analysts have also weighed in on the stock. Stephens reissued an “overweight” rating and issued a $200.00 price objective on shares of Generac in a research report on Monday, August 5th. Northland Securities increased their price objective on shares of Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Canaccord Genuity Group raised their price target on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised their price target on shares of Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus raised their price target on shares of Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Generac has a consensus rating of “Moderate Buy” and a consensus target price of $174.58.

Generac Stock Performance

NYSE GNRC opened at $191.58 on Friday. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The firm’s fifty day moving average price is $168.12 and its two-hundred day moving average price is $153.67. Generac has a 1 year low of $108.89 and a 1 year high of $195.94. The firm has a market capitalization of $11.40 billion, a P/E ratio of 39.93, a price-to-earnings-growth ratio of 2.32 and a beta of 1.37.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.27. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 earnings per share. As a group, research analysts anticipate that Generac will post 6.8 EPS for the current year.

Insider Activity

In other news, CFO York A. Ragen sold 29,081 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total value of $5,372,133.13. Following the sale, the chief financial officer now directly owns 135,613 shares in the company, valued at approximately $25,051,789.49. This trade represents a 17.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the sale, the chief executive officer now owns 557,177 shares in the company, valued at approximately $92,825,688.20. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,268 shares of company stock worth $7,584,853. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC raised its holdings in Generac by 73.2% during the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after purchasing an additional 90 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in Generac by 97.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Brooklyn Investment Group bought a new position in Generac during the 3rd quarter worth approximately $31,000. SouthState Corp bought a new stake in shares of Generac in the 3rd quarter valued at $32,000. Finally, Capital Advisors Ltd. LLC increased its stake in shares of Generac by 611.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock valued at $34,000 after acquiring an additional 220 shares in the last quarter. 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.