Generac (NYSE:GNRC) Price Target Lowered to $180.00 at Canaccord Genuity Group

Generac (NYSE:GNRC) had its price objective trimmed by Canaccord Genuity Group from $200.00 to $180.00 in a research note published on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Other research analysts also recently issued research reports about the company. TD Cowen dropped their price target on Generac from $173.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday. Bank of America started coverage on shares of Generac in a report on Monday, March 24th. They issued a “buy” rating and a $182.00 target price on the stock. Guggenheim raised shares of Generac from a “sell” rating to a “neutral” rating in a research report on Monday, March 17th. Robert W. Baird dropped their price objective on shares of Generac from $171.00 to $127.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company decreased their target price on shares of Generac from $165.00 to $128.00 and set an “equal weight” rating for the company in a research note on Thursday. Nine analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Generac presently has an average rating of “Moderate Buy” and an average price target of $167.20.

Generac Price Performance

GNRC stock opened at $114.45 on Thursday. The business has a 50 day moving average price of $122.07 and a 200 day moving average price of $149.60. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 1.44 and a beta of 1.73. Generac has a fifty-two week low of $99.50 and a fifty-two week high of $195.94.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.27. The business had revenue of $942.12 million during the quarter, compared to the consensus estimate of $921.78 million. Generac had a net margin of 7.36% and a return on equity of 18.17%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 EPS. Equities research analysts anticipate that Generac will post 8 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the sale, the chief executive officer now owns 565,825 shares in the company, valued at $82,129,498.75. This represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Generac

A number of institutional investors have recently bought and sold shares of GNRC. Hurley Capital LLC acquired a new position in shares of Generac during the 4th quarter worth $26,000. Modus Advisors LLC acquired a new position in Generac during the fourth quarter worth about $27,000. Cranbrook Wealth Management LLC purchased a new stake in shares of Generac in the fourth quarter valued at about $28,000. Versant Capital Management Inc grew its position in shares of Generac by 391.9% in the fourth quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock valued at $28,000 after purchasing an additional 145 shares during the last quarter. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Generac during the 4th quarter worth approximately $31,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

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.