Generac (NYSE:GNRC) Raised to Overweight at JPMorgan Chase & Co.

Generac (NYSE:GNRC) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Monday, MarketBeat Ratings reports. The brokerage presently has a $200.00 price objective on the technology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 24.87% from the stock’s previous close.

Several other brokerages have also weighed in on GNRC. Weiss Ratings reissued a “hold (c)” rating on shares of Generac in a report on Wednesday, October 8th. Needham & Company LLC began coverage on Generac in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $248.00 price target for the company. Citigroup cut their price objective on Generac from $217.00 to $207.00 and set a “neutral” rating on the stock in a research note on Monday, November 3rd. Barclays increased their target price on Generac from $188.00 to $197.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. Finally, Wall Street Zen downgraded Generac from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. Fourteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.28.

Generac Price Performance

GNRC stock opened at $160.17 on Monday. The stock’s 50 day moving average is $165.45 and its two-hundred day moving average is $163.26. Generac has a 52-week low of $99.50 and a 52-week high of $203.25. The company has a market capitalization of $9.40 billion, a PE ratio of 30.51, a P/E/G ratio of 1.63 and a beta of 1.82. The company has a quick ratio of 1.02, a current ratio of 2.18 and a debt-to-equity ratio of 0.51.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, October 29th. The technology company reported $1.83 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.42). Generac had a net margin of 6.92% and a return on equity of 17.63%. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the company posted $2.25 earnings per share. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. Analysts predict that Generac will post 8 earnings per share for the current fiscal year.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $166.43, for a total transaction of $832,150.00. Following the completion of the sale, the chief executive officer directly owned 542,966 shares of the company’s stock, valued at $90,365,831.38. This represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Generac

Several institutional investors and hedge funds have recently bought and sold shares of GNRC. Invesco Ltd. boosted its holdings in shares of Generac by 40.9% in the second quarter. Invesco Ltd. now owns 1,992,447 shares of the technology company’s stock worth $285,338,000 after buying an additional 577,933 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Generac during the 3rd quarter worth approximately $70,744,000. Norges Bank acquired a new stake in Generac during the 2nd quarter valued at $53,138,000. Victory Capital Management Inc. raised its stake in Generac by 17.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock valued at $355,530,000 after purchasing an additional 324,809 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in shares of Generac by 63.5% in the second quarter. Federated Hermes Inc. now owns 749,347 shares of the technology company’s stock valued at $107,314,000 after purchasing an additional 291,012 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

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.