Generac’s (GNRC) Buy Rating Reaffirmed at Guggenheim

Generac (NYSE:GNRC)‘s stock had its “buy” rating restated by analysts at Guggenheim in a report issued on Tuesday,Benzinga reports. They presently have a $202.00 target price on the technology company’s stock. Guggenheim’s target price would suggest a potential upside of 10.47% from the company’s previous close.

Other research analysts have also issued research reports about the company. Bank of America decreased their price objective on Generac from $236.00 to $224.00 and set a “buy” rating on the stock in a report on Wednesday, January 7th. Barclays decreased their price target on shares of Generac from $197.00 to $186.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 20th. Needham & Company LLC began coverage on shares of Generac in a research note on Monday, January 12th. They set a “buy” rating and a $211.00 price objective for the company. Canaccord Genuity Group cut their price objective on shares of Generac from $240.00 to $236.00 and set a “buy” rating for the company in a report on Tuesday, January 13th. Finally, UBS Group lowered their target price on Generac from $220.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Generac presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.29.

Generac Price Performance

NYSE:GNRC traded down $2.98 during trading hours on Tuesday, hitting $182.85. 83,946 shares of the stock were exchanged, compared to its average volume of 1,023,396. The company has a market cap of $10.73 billion, a P/E ratio of 34.92, a P/E/G ratio of 1.48 and a beta of 1.85. The firm’s fifty day moving average price is $157.55 and its 200 day moving average price is $169.23. Generac has a 52-week low of $99.50 and a 52-week high of $203.25. The company has a current ratio of 2.18, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51.

Institutional Trading of Generac

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MUFG Securities EMEA plc acquired a new position in Generac in the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in Generac in the third quarter valued at $26,000. First Horizon Corp acquired a new position in shares of Generac in the 3rd quarter valued at $28,000. Sentry Investment Management LLC increased its position in shares of Generac by 69.8% during the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock worth $28,000 after purchasing an additional 67 shares during the last quarter. Finally, Quent Capital LLC acquired a new position in Generac in the third quarter valued at about $41,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

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.