Generac’s (GNRC) “Buy” Rating Reiterated at Bank of America

Generac (NYSE:GNRC)‘s stock had its “buy” rating reaffirmed by research analysts at Bank of America in a research note issued to investors on Monday. They presently have a $49.84 target price on the technology company’s stock, down from their previous target price of $58.00. Bank of America’s target price would indicate a potential upside of 6.66% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. ValuEngine cut shares of Generac from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. SunTrust Banks reiterated a “hold” rating and set a $48.00 target price on shares of Generac in a research report on Friday, November 3rd. Stifel Nicolaus upped their target price on shares of Generac from $41.00 to $48.00 and gave the company a “hold” rating in a research report on Wednesday, October 18th. Oppenheimer restated a “hold” rating on shares of Generac in a research report on Wednesday, November 1st. Finally, Zacks Investment Research upgraded shares of Generac from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $52.12.

Generac (GNRC) traded up $0.26 during trading hours on Monday, reaching $46.73. The company’s stock had a trading volume of 12,723 shares, compared to its average volume of 412,989. Generac has a 12-month low of $33.77 and a 12-month high of $53.78. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.01 and a current ratio of 1.77. The firm has a market cap of $2,888.74, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 1.49 and a beta of 1.64.

In related news, CEO Aaron Jagdfeld sold 20,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $48.54, for a total value of $970,800.00. Following the completion of the sale, the chief executive officer now directly owns 969,911 shares in the company, valued at approximately $47,079,479.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.00% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio lifted its stake in Generac by 10.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,873 shares of the technology company’s stock valued at $212,000 after purchasing an additional 565 shares during the last quarter. Boothbay Fund Management LLC raised its holdings in Generac by 9.3% in the 3rd quarter. Boothbay Fund Management LLC now owns 12,852 shares of the technology company’s stock valued at $590,000 after acquiring an additional 1,098 shares during the period. Wellington Shields Capital Management LLC raised its holdings in Generac by 5.4% in the 3rd quarter. Wellington Shields Capital Management LLC now owns 21,600 shares of the technology company’s stock valued at $992,000 after acquiring an additional 1,100 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in Generac by 3.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 30,453 shares of the technology company’s stock valued at $1,399,000 after acquiring an additional 1,122 shares during the period. Finally, UBS Asset Management Americas Inc. raised its holdings in Generac by 0.3% in the 4th quarter. UBS Asset Management Americas Inc. now owns 389,163 shares of the technology company’s stock valued at $19,271,000 after acquiring an additional 1,138 shares during the period. Institutional investors and hedge funds own 96.23% of the company’s stock.

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About Generac

Generac Holdings Inc (Generac) is a designer and manufacturer of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business.

Analyst Recommendations for Generac (NYSE:GNRC)

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