Generac (NYSE:GNRC) Now Covered by Bank of America

Bank of America initiated coverage on shares of Generac (NYSE:GNRC) in a research note released on Monday morning, Marketbeat reports. The firm issued a buy rating and a $182.00 price target on the technology company’s stock.

Several other brokerages also recently weighed in on GNRC. Robert W. Baird cut their price target on Generac from $172.00 to $171.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Guggenheim upgraded shares of Generac from a “sell” rating to a “neutral” rating in a research note on Monday, March 17th. Piper Sandler lowered their price target on shares of Generac from $185.00 to $175.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group reduced their price objective on shares of Generac from $193.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Finally, Barclays began coverage on shares of Generac in a research note on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 target price for the company. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and an average price target of $174.38.

Generac Trading Up 4.6 %

Shares of GNRC stock opened at $137.61 on Monday. Generac has a fifty-two week low of $115.76 and a fifty-two week high of $195.94. The company has a 50 day moving average price of $142.95 and a 200 day moving average price of $158.07. The stock has a market capitalization of $8.20 billion, a P/E ratio of 25.48, a price-to-earnings-growth ratio of 1.44 and a beta of 1.50. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. Equities research analysts predict that Generac will post 8 EPS for the current fiscal year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $145.15, for a total transaction of $725,750.00. Following the transaction, the chief executive officer now owns 565,825 shares of the company’s stock, valued at $82,129,498.75. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.90% of the stock is owned by insiders.

Institutional Trading of Generac

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Generac during the fourth quarter worth approximately $90,913,000. Boston Partners raised its position in Generac by 39.0% during the 4th quarter. Boston Partners now owns 1,903,297 shares of the technology company’s stock worth $295,123,000 after buying an additional 533,612 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Generac by 81.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company’s stock worth $161,684,000 after acquiring an additional 469,575 shares during the period. Jennison Associates LLC boosted its holdings in shares of Generac by 133.6% in the fourth quarter. Jennison Associates LLC now owns 672,213 shares of the technology company’s stock valued at $104,227,000 after acquiring an additional 384,434 shares in the last quarter. Finally, Forest Avenue Capital Management LP acquired a new position in shares of Generac during the fourth quarter worth about $49,313,000. 84.04% of the stock is owned by institutional investors and hedge funds.

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.