Generac (NYSE:GNRC) Upgraded to Overweight at JPMorgan Chase & Co.

Generac (NYSE:GNRC) was upgraded by JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Monday,Benzinga reports. The firm currently has a $200.00 target price on the technology company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 23.03% from the stock’s current price.

Several other equities analysts have also recently issued reports on GNRC. Guggenheim reduced their price target on shares of Generac from $210.00 to $202.00 and set a “buy” rating on the stock in a research report on Thursday, October 9th. Needham & Company LLC assumed coverage on Generac in a research report on Wednesday, October 22nd. They set a “buy” rating and a $248.00 price objective on the stock. Roth Capital set a $184.00 target price on Generac and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Wall Street Zen cut Generac from a “buy” rating to a “hold” rating in a research note on Sunday, September 28th. Finally, Barclays lifted their price target on Generac from $188.00 to $197.00 and gave the company an “equal weight” rating in a research report on Friday, October 31st. Fourteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $191.28.

Generac Stock Performance

Shares of GNRC stock opened at $162.57 on Monday. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 1.62 and a beta of 1.82. The stock has a fifty day moving average of $165.63 and a 200 day moving average of $162.72. Generac has a 52 week low of $99.50 and a 52 week high of $203.25. The company has a quick ratio of 1.02, a current ratio of 2.18 and a debt-to-equity ratio of 0.51.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, October 29th. The technology company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.42). Generac had a net margin of 6.92% and a return on equity of 17.63%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the firm posted $2.25 earnings per share. The firm’s revenue for the quarter was down 5.0% compared to the same quarter last year. As a group, research analysts expect that Generac will post 8 earnings per share for the current year.

Insider Buying and Selling at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $166.43, for a total transaction of $832,150.00. Following the completion of the transaction, the chief executive officer owned 542,966 shares of the company’s stock, valued at $90,365,831.38. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Generac

Institutional investors have recently modified their holdings of the stock. Allworth Financial LP boosted its stake in Generac by 22.0% during the 3rd quarter. Allworth Financial LP now owns 3,340 shares of the technology company’s stock valued at $559,000 after purchasing an additional 602 shares during the last quarter. Swiss Life Asset Management Ltd raised its stake in shares of Generac by 7.0% in the third quarter. Swiss Life Asset Management Ltd now owns 18,043 shares of the technology company’s stock worth $3,020,000 after purchasing an additional 1,173 shares during the last quarter. Investment Research Partners LLC bought a new position in shares of Generac during the third quarter valued at $278,000. CIBC Private Wealth Group LLC boosted its position in shares of Generac by 18.8% during the third quarter. CIBC Private Wealth Group LLC now owns 1,010 shares of the technology company’s stock valued at $169,000 after buying an additional 160 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new stake in shares of Generac during the third quarter valued at $1,003,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

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.