Canaccord Genuity Group Raises Generac (NYSE:GNRC) Price Target to $150.00

Generac (NYSE:GNRC) had its price target boosted by Canaccord Genuity Group from $140.00 to $150.00 in a research report sent to investors on Friday, Briefing.com reports. They currently have a buy rating on the technology company’s stock.

GNRC has been the subject of several other research reports. UBS Group reduced their price target on shares of Generac from $160.00 to $150.00 and set a buy rating for the company in a research report on Thursday, February 15th. Citigroup increased their price target on shares of Generac from $124.00 to $128.00 and gave the company a neutral rating in a research report on Monday, February 12th. Roth Mkm increased their price target on shares of Generac from $105.00 to $118.00 and gave the company a neutral rating in a research report on Tuesday, February 6th. Robert W. Baird increased their price target on shares of Generac from $112.00 to $129.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Finally, Guggenheim lowered shares of Generac from a buy rating to a neutral rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $140.80.

Generac Stock Up 2.3 %

Generac stock opened at $134.41 on Friday. The company has a quick ratio of 0.94, a current ratio of 2.27 and a debt-to-equity ratio of 0.62. Generac has a 12-month low of $79.86 and a 12-month high of $156.95. The firm’s fifty day moving average is $118.24 and its 200 day moving average is $114.13. The company has a market capitalization of $8.10 billion, a PE ratio of 40.85, a PEG ratio of 1.77 and a beta of 1.45.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, February 14th. The technology company reported $2.07 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.02). Generac had a return on equity of 14.15% and a net margin of 5.33%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the company posted $1.78 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, sell-side analysts predict that Generac will post 6.31 EPS for the current fiscal year.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $126.94, for a total value of $634,700.00. Following the sale, the chief executive officer now directly owns 592,177 shares of the company’s stock, valued at $75,170,948.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital World Investors bought a new position in shares of Generac in the fourth quarter worth approximately $155,707,000. Norges Bank bought a new position in shares of Generac in the fourth quarter worth approximately $59,121,000. Macquarie Group Ltd. grew its holdings in shares of Generac by 61.8% in the first quarter. Macquarie Group Ltd. now owns 1,244,286 shares of the technology company’s stock worth $134,395,000 after purchasing an additional 475,104 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Generac by 432.9% in the fourth quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock worth $50,697,000 after purchasing an additional 318,664 shares during the last quarter. Finally, AQR Capital Management LLC bought a new position in shares of Generac in the fourth quarter worth approximately $30,537,000. 84.04% of the stock is currently owned by institutional investors.

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.