Brokerages Set Generac Holdings Inc. (NYSE:GNRC) Price Target at $174.80

Shares of Generac Holdings Inc. (NYSE:GNRC) have earned a consensus rating of “Hold” from the twenty-one ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $174.80.

Several brokerages have commented on GNRC. The Goldman Sachs Group increased their price target on shares of Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com raised shares of Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. boosted their price target on shares of Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Roth Mkm raised their price objective on Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, Truist Financial boosted their target price on Generac from $170.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 16th.

Generac Price Performance

Generac stock opened at $157.44 on Thursday. The stock has a market cap of $9.37 billion, a P/E ratio of 32.66, a price-to-earnings-growth ratio of 2.04 and a beta of 1.42. The company has a fifty day simple moving average of $173.11 and a 200-day simple moving average of $159.69. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. Generac has a 12-month low of $108.89 and a 12-month high of $195.94.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $1.64 EPS. Generac’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts expect that Generac will post 6.84 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the transaction, the chief executive officer now owns 557,177 shares of the company’s stock, valued at $92,825,688.20. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO York A. Ragen sold 29,081 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total value of $5,372,133.13. Following the completion of the sale, the chief financial officer now directly owns 135,613 shares of the company’s stock, valued at approximately $25,051,789.49. This trade represents a 17.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,268 shares of company stock worth $7,577,703. 2.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GNRC. Raymond James Trust N.A. increased its position in shares of Generac by 52.8% in the third quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company’s stock valued at $541,000 after buying an additional 1,177 shares in the last quarter. Willis Investment Counsel increased its holdings in Generac by 18.7% during the 3rd quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock valued at $16,684,000 after acquiring an additional 16,541 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Generac by 85.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock worth $928,000 after acquiring an additional 3,244 shares during the last quarter. Principal Financial Group Inc. raised its position in Generac by 5.0% during the third quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock worth $11,324,000 after acquiring an additional 3,426 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Generac by 54.1% in the third quarter. Glenmede Trust Co. NA now owns 11,984 shares of the technology company’s stock valued at $1,904,000 after purchasing an additional 4,209 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

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.