Cantor Fitzgerald Begins Coverage on Generac (NYSE:GNRC)

Equities research analysts at Cantor Fitzgerald initiated coverage on shares of Generac (NYSE:GNRC) in a report issued on Wednesday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $325.00 price target on the technology company’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 54.17% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. Citigroup lifted their price target on shares of Generac from $263.00 to $300.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Roth Capital reaffirmed a “neutral” rating and set a $257.00 price objective on shares of Generac in a research note on Thursday, April 30th. Bank of America reduced their target price on Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. TD Cowen reissued a “buy” rating on shares of Generac in a research note on Monday. Finally, Raymond James Financial set a $302.00 price target on Generac in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Generac presently has an average rating of “Moderate Buy” and a consensus target price of $286.44.

Generac Stock Performance

Shares of NYSE:GNRC opened at $210.81 on Wednesday. The firm’s 50 day simple moving average is $257.52 and its 200 day simple moving average is $222.85. Generac has a fifty-two week low of $134.80 and a fifty-two week high of $296.44. The company has a market capitalization of $12.41 billion, a price-to-earnings ratio of 66.08, a P/E/G ratio of 2.00 and a beta of 1.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the company earned $1.26 earnings per share. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, sell-side analysts forecast that Generac will post 8.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Norman P. Taffe sold 550 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $256.00, for a total transaction of $140,800.00. Following the sale, the insider directly owned 15,808 shares in the company, valued at $4,046,848. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the sale, the chief executive officer directly owned 564,528 shares in the company, valued at $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 6,100 shares of company stock worth $1,651,443. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Invesco Ltd. raised its position in Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after buying an additional 806,430 shares during the last quarter. State Street Corp grew its stake in shares of Generac by 2.1% during the 2nd quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock worth $313,619,000 after acquiring an additional 45,592 shares in the last quarter. Boston Partners grew its stake in shares of Generac by 7.1% during the 3rd quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock worth $326,003,000 after acquiring an additional 128,439 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Generac by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock valued at $202,943,000 after purchasing an additional 6,332 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Generac by 20.7% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,104,362 shares of the technology company’s stock valued at $184,870,000 after purchasing an additional 189,457 shares during the last quarter. 84.04% of the stock is 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.