Bank of America Lowers Generac (NYSE:GNRC) Price Target to $224.00

Generac (NYSE:GNRC) had its target price decreased by research analysts at Bank of America from $236.00 to $224.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Bank of America‘s target price would indicate a potential upside of 50.45% from the company’s previous close.

Several other research analysts have also commented on the stock. JPMorgan Chase & Co. raised shares of Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price target for the company in a report on Monday, December 8th. Barclays raised their target price on shares of Generac from $188.00 to $197.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. Guggenheim lowered their target price on Generac from $210.00 to $202.00 and set a “buy” rating for the company in a report on Thursday, October 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Generac in a research report on Wednesday, October 8th. Finally, Zacks Research raised Generac from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 3rd. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Generac currently has an average rating of “Moderate Buy” and a consensus price target of $194.44.

Generac Price Performance

Shares of NYSE GNRC opened at $148.89 on Wednesday. The company has a current ratio of 2.18, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 1.13 and a beta of 1.82. Generac has a twelve month low of $99.50 and a twelve month high of $203.25. The business has a 50 day simple moving average of $150.37 and a 200-day simple moving average of $165.75.

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

Insiders Place Their Bets

In other Generac 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 value of $832,150.00. Following the transaction, the chief executive officer owned 542,966 shares of the company’s stock, valued at approximately $90,365,831.38. This represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Generac

A number of hedge funds have recently modified their holdings of GNRC. Ulland Investment Advisors LLC lifted its holdings in shares of Generac by 261.4% during the fourth quarter. Ulland Investment Advisors LLC now owns 2,750 shares of the technology company’s stock valued at $375,000 after purchasing an additional 1,989 shares during the last quarter. Pine Haven Investment Counsel Inc increased its stake in Generac by 14.5% in the 4th quarter. Pine Haven Investment Counsel Inc now owns 3,321 shares of the technology company’s stock worth $453,000 after purchasing an additional 420 shares in the last quarter. Procyon Advisors LLC raised its holdings in Generac by 80.1% during the 4th quarter. Procyon Advisors LLC now owns 27,736 shares of the technology company’s stock worth $3,782,000 after buying an additional 12,333 shares during the period. Union Bancaire Privee UBP SA lifted its stake in Generac by 166.5% during the fourth quarter. Union Bancaire Privee UBP SA now owns 13,604 shares of the technology company’s stock valued at $1,855,000 after buying an additional 8,500 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Generac by 22.0% in the third quarter. Allworth Financial LP now owns 3,340 shares of the technology company’s stock worth $559,000 after buying an additional 602 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.