Brokerages Set Generac Holdings Inc. (NYSE:GNRC) Target Price at $174.80

Generac Holdings Inc. (NYSE:GNRC) has been given a consensus recommendation of “Hold” by the twenty-one analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $174.80.

A number of analysts have commented on GNRC shares. TD Cowen lifted their price target on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus increased their price target on shares of Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Piper Sandler lifted their price objective on shares of Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Barclays began coverage on shares of Generac in a report on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 price objective on the stock. Finally, StockNews.com raised shares of Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th.

Insider Buying and Selling

In other news, CFO York A. Ragen sold 29,081 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the transaction, the chief financial officer now directly owns 135,613 shares in the company, valued at approximately $25,051,789.49. This represents a 17.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 557,177 shares in the company, valued at $92,825,688.20. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,268 shares of company stock worth $7,577,703. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Generac

Hedge funds and other institutional investors have recently bought and sold shares of the company. William Blair Investment Management LLC acquired a new position in shares of Generac in the second quarter worth $98,282,000. The Manufacturers Life Insurance Company grew its stake in Generac by 114.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock worth $88,944,000 after purchasing an additional 299,205 shares in the last quarter. Jennison Associates LLC purchased a new stake in Generac during the 3rd quarter worth about $45,722,000. International Assets Investment Management LLC raised its position in Generac by 25,311.7% in the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock valued at $42,433,000 after purchasing an additional 266,026 shares in the last quarter. Finally, Stephens Investment Management Group LLC boosted its stake in shares of Generac by 678.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock valued at $30,560,000 after buying an additional 167,641 shares during the period. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Price Performance

Shares of GNRC stock opened at $157.44 on Thursday. The stock’s 50-day moving average is $173.11 and its 200 day moving average is $159.69. Generac has a 1-year low of $108.89 and a 1-year high of $195.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The company has a market cap of $9.37 billion, a P/E ratio of 32.66, a PEG ratio of 2.04 and a beta of 1.42.

Generac (NYSE:GNRC) last posted its earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. Generac’s revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts predict that Generac will post 6.84 earnings per share for the current fiscal year.

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.