Generac (NYSE:GNRC) Given New $290.00 Price Target at Stifel Nicolaus

Generac (NYSE:GNRC) had its target price boosted by analysts at Stifel Nicolaus from $285.00 to $290.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price target points to a potential upside of 36.71% from the company’s current price.

Several other research firms also recently weighed in on GNRC. Wall Street Zen downgraded Generac from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 19th. HSBC downgraded Generac to a “hold” rating and set a $333.00 price objective on the stock. in a report on Thursday, September 17th. Raymond James Financial set a $286.00 target price on shares of Generac in a report on Thursday, September 17th. Wells Fargo & Company set a $280.00 price objective on Generac in a research note on Thursday, September 17th. Finally, Citigroup restated a “neutral” rating on shares of Generac in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $295.65.

Generac Trading Up 3.4%

Generac stock opened at $212.13 on Wednesday. The stock has a market cap of $12.52 billion, a P/E ratio of 48.88, a PEG ratio of 1.76 and a beta of 1.91. Generac has a 1 year low of $134.80 and a 1 year high of $296.44. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. The firm’s 50 day moving average price is $200.49 and its 200-day moving average price is $225.99.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the business posted $1.65 earnings per share. Generac’s quarterly revenue was up 10.3% on a year-over-year basis. On average, equities analysts predict that Generac will post 9.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Norman Taffe sold 150 shares of the firm’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $229.50, for a total transaction of $34,425.00. Following the sale, the insider owned 11,276 shares of the company’s stock, valued at $2,587,842. This trade represents a 1.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $229.50, for a total transaction of $138,388.50. Following the completion of the transaction, the insider owned 10,356 shares of the company’s stock, valued at approximately $2,376,702. This represents a 5.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 12,839 shares of company stock worth $2,519,973. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Generac

Hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Generac in the 2nd quarter worth about $1,170,960,000. Geode Capital Management LLC raised its holdings in Generac by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock valued at $202,943,000 after acquiring an additional 6,332 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Generac by 9.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,038,493 shares of the technology company’s stock worth $202,849,000 after purchasing an additional 86,863 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Generac by 19.7% during the 1st quarter. Bank of America Corp DE now owns 742,576 shares of the technology company’s stock worth $145,047,000 after purchasing an additional 122,101 shares during the last quarter. Finally, Diamant Asset Management Inc. boosted its holdings in shares of Generac by 19,433.0% during the 1st quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock worth $130,104,000 after purchasing an additional 662,665 shares during the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Company Profile

Generac Holdings Inc is an energy technology company that designs and manufactures power generation equipment, energy storage systems and other products intended to provide backup and distributed energy solutions. Its offerings serve residential, commercial, industrial and other users seeking standby power, portable power or greater control over energy use.

The company’s product portfolio includes home standby generators, portable generators, commercial and industrial generators, mobile power equipment, engines and related transfer switches and controls.