Generac’s (GNRC) Overweight Rating Reiterated at Piper Sandler

Generac (NYSE:GNRC)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Sandler in a report released on Tuesday, Benzinga reports. They presently have a $175.00 target price on the technology company’s stock. Piper Sandler’s target price would suggest a potential upside of 16.20% from the stock’s current price.

GNRC has been the subject of several other research reports. Scotiabank raised their target price on shares of Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. Canaccord Genuity Group lifted their price target on Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. TD Cowen lifted their target price on shares of Generac from $144.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus reaffirmed a “buy” rating and set a $175.00 price objective (up from $145.00) on shares of Generac in a report on Thursday, August 1st. Finally, Guggenheim lowered shares of Generac from a “neutral” rating to a “sell” rating and set a $120.00 price objective on the stock. in a report on Thursday, May 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $154.71.

Generac Price Performance

Shares of NYSE GNRC traded up $4.36 during midday trading on Tuesday, reaching $150.60. 515,997 shares of the company were exchanged, compared to its average volume of 958,043. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. Generac has a one year low of $79.86 and a one year high of $169.57. The stock has a market cap of $9.13 billion, a P/E ratio of 41.37, a PEG ratio of 1.83 and a beta of 1.38. The stock’s 50-day moving average price is $149.09 and its 200-day moving average price is $140.15.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. Generac had a net margin of 6.03% and a return on equity of 15.35%. The company had revenue of $998.20 million for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the company posted $1.08 EPS. Generac’s revenue was down .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Generac will post 6.52 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $133.39, for a total value of $666,950.00. Following the transaction, the chief executive officer now directly owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Generac

Several institutional investors have recently made changes to their positions in the stock. Centaurus Financial Inc. purchased a new position in Generac in the second quarter valued at about $101,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Generac by 85.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock valued at $928,000 after purchasing an additional 3,244 shares during the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of Generac in the second quarter worth about $265,000. Cim LLC lifted its stake in shares of Generac by 1.6% in the 2nd quarter. Cim LLC now owns 9,510 shares of the technology company’s stock valued at $1,381,000 after purchasing an additional 149 shares during the period. Finally, Sanctuary Advisors LLC purchased a new position in Generac in the second quarter worth about $2,501,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

About Generac

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.