Canaccord Genuity Group Lowers Generac (NYSE:GNRC) Price Target to $236.00

Generac (NYSE:GNRC) had its target price reduced by research analysts at Canaccord Genuity Group from $240.00 to $236.00 in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm currently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 47.07% from the stock’s current price.

Several other analysts have also recently commented on the company. Wells Fargo & Company set a $195.00 target price on Generac in a report on Friday, December 19th. Baird R W raised Generac from a “hold” rating to a “strong-buy” rating in a report on Friday, January 9th. Wall Street Zen lowered shares of Generac from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. JPMorgan Chase & Co. upgraded shares of Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price objective for the company in a research report on Monday, December 8th. Finally, Citigroup upgraded shares of Generac from a “neutral” rating to a “buy” rating and set a $207.00 target price on the stock in a research report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $196.17.

Generac Stock Performance

NYSE GNRC opened at $160.47 on Tuesday. Generac has a 1-year low of $99.50 and a 1-year high of $203.25. The company has a 50 day moving average of $149.97 and a 200-day moving average of $166.44. 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 firm has a market cap of $9.42 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 1.29 and a beta of 1.82.

Generac (NYSE:GNRC) last announced 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 return on equity of 17.63% and a net margin of 6.92%.The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the firm earned $2.25 earnings per share. The firm’s revenue was down 5.0% compared to the same quarter last year. On average, equities analysts forecast that Generac will post 8 earnings per share for the current fiscal year.

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were 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 trade represents a 0.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Generac

Several large investors have recently bought and sold shares of the business. New York Life Investment Management LLC raised its position in shares of Generac by 0.7% during the 2nd quarter. New York Life Investment Management LLC now owns 7,924 shares of the technology company’s stock valued at $1,135,000 after acquiring an additional 58 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its position in shares of Generac by 21.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 331 shares of the technology company’s stock worth $55,000 after purchasing an additional 59 shares during the last quarter. Sentry Investment Management LLC grew its stake in shares of Generac by 69.8% during the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock worth $28,000 after purchasing an additional 67 shares during the period. Beacon Investment Advisors LLC increased its holdings in Generac by 0.3% in the second quarter. Beacon Investment Advisors LLC now owns 26,226 shares of the technology company’s stock valued at $3,735,000 after purchasing an additional 70 shares during the last quarter. Finally, ORG Partners LLC lifted its stake in Generac by 24.7% in the third quarter. ORG Partners LLC now owns 369 shares of the technology company’s stock valued at $62,000 after buying an additional 73 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Company Profile

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.