Generac (NYSE:GNRC) Stock Price Target Cut by Piper Sandler

Generac (NYSE:GNRC) had its target price cut by analysts at Piper Sandler from $279.00 to $266.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Piper Sandler‘s price target would indicate a potential upside of 39.47% from the company’s current price.

A number of other brokerages also recently commented on GNRC. Roth Capital upped their price objective on Generac from $214.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, September 17th. Wall Street Zen upgraded shares of Generac from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Needham & Company LLC increased their price objective on shares of Generac from $283.00 to $288.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Zacks Research cut shares of Generac from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Finally, Cantor Fitzgerald cut their price objective on shares of Generac from $333.00 to $297.00 and set an “overweight” rating on the stock in a research report on Monday, October 5th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Generac presently has an average rating of “Moderate Buy” and a consensus target price of $289.82.

Generac Stock Performance

NYSE GNRC traded up $13.94 during trading hours on Monday, reaching $190.72. The company’s stock had a trading volume of 332,602 shares, compared to its average volume of 1,103,556. The company has a current ratio of 1.97, a quick ratio of 1.06 and a debt-to-equity ratio of 0.41. The business has a 50-day simple moving average of $197.79 and a 200 day simple moving average of $218.22. Generac has a 52 week low of $134.80 and a 52 week high of $296.44. The stock has a market cap of $11.25 billion, a PE ratio of 37.73, a PEG ratio of 1.50 and a beta of 1.86.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, October 28th. The technology company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.40 by $0.14. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. Generac had a return on equity of 18.78% and a net margin of 6.52%. The business’s revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.83 earnings per share. Equities research analysts predict that Generac will post 9.84 earnings per share for the current fiscal year.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $206.00, for a total transaction of $1,030,000.00. Following the sale, the chief executive officer directly owned 544,528 shares in the company, valued at approximately $112,172,768. The trade was a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 300 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The stock was sold at an average price of $182.01, for a total transaction of $54,603.00. Following the completion of the sale, the insider directly owned 10,676 shares of the company’s stock, valued at approximately $1,943,138.76. This represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,606 shares of company stock worth $2,491,310 over the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Generac

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GNRC. Contravisory Investment Management Inc. boosted its stake in Generac by 1.5% during the third quarter. Contravisory Investment Management Inc. now owns 4,027 shares of the technology company’s stock valued at $833,000 after buying an additional 58 shares in the last quarter. Essential Partners LLC raised its position in Generac by 57.0% in the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after acquiring an additional 61 shares in the last quarter. Oarsman Capital Inc. lifted its holdings in Generac by 4.3% in the 2nd quarter. Oarsman Capital Inc. now owns 1,492 shares of the technology company’s stock valued at $437,000 after acquiring an additional 61 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in Generac by 6.2% in the 3rd quarter. Wedbush Securities Inc. now owns 1,049 shares of the technology company’s stock valued at $217,000 after acquiring an additional 61 shares during the last quarter. Finally, Investment Research Partners LLC boosted its position in shares of Generac by 3.9% during the 3rd quarter. Investment Research Partners LLC now owns 1,663 shares of the technology company’s stock valued at $344,000 after purchasing an additional 62 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

Generac Company Profile

Generac Holdings Inc designs and manufactures backup power generation equipment and energy technology solutions. Its products include home standby and portable generators, as well as power systems for commercial, industrial, and other applications.

The company also offers energy storage and management products, solar-related solutions, and services that help customers monitor and manage power use. Generac serves residential, commercial, and industrial customers, with a presence in North America and other markets around the world.

Founded in 1959, Generac has expanded from its generator-manufacturing roots into a broader provider of backup power and energy management technologies.