Generac (NYSE:GNRC) Price Target Increased to $170.00 by Analysts at Truist Financial

Generac (NYSE:GNRC) had its price target hoisted by Truist Financial from $160.00 to $170.00 in a research report sent to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

GNRC has been the topic of several other reports. OTR Global upgraded shares of Generac from a mixed rating to a positive rating in a report on Tuesday, April 2nd. Robert W. Baird increased their price objective on shares of Generac from $112.00 to $129.00 and gave the stock a neutral rating in a report on Thursday, February 15th. Citigroup increased their price objective on shares of Generac from $124.00 to $128.00 and gave the stock a neutral rating in a report on Monday, February 12th. Oppenheimer lowered shares of Generac from an outperform rating to a market perform rating in a report on Wednesday, May 22nd. Finally, TD Cowen cut their price objective on shares of Generac from $165.00 to $144.00 and set an outperform rating on the stock in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Generac presently has a consensus rating of Moderate Buy and a consensus target price of $142.15.

Generac Price Performance

NYSE:GNRC opened at $148.66 on Thursday. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 40.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.41. The company has a current ratio of 2.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average is $133.62 and its two-hundred day moving average is $123.63. Generac has a 12-month low of $79.86 and a 12-month high of $156.95.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. The company had revenue of $889.27 million for the quarter, compared to analyst estimates of $886.60 million. Generac had a net margin of 5.68% and a return on equity of 14.68%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. Research analysts expect that Generac will post 6.08 EPS for the current year.

Insider Buying and Selling at Generac

In other Generac news, Director Nam Tran Nguyen sold 546 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $140.55, for a total value of $76,740.30. Following the completion of the sale, the director now owns 3,512 shares of the company’s stock, valued at $493,611.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $126.94, for a total transaction of $634,700.00. Following the completion of the sale, the chief executive officer now owns 592,177 shares of the company’s stock, valued at $75,170,948.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nam Tran Nguyen sold 546 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $140.55, for a total transaction of $76,740.30. Following the sale, the director now directly owns 3,512 shares of the company’s stock, valued at approximately $493,611.60. The disclosure for this sale can be found here. Insiders sold 14,930 shares of company stock valued at $2,086,502 over the last 90 days. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Generac

A number of hedge funds have recently made changes to their positions in the stock. Capital World Investors bought a new position in Generac during the fourth quarter worth $155,707,000. Norges Bank bought a new position in Generac during the fourth quarter worth $67,253,000. Wellington Management Group LLP lifted its stake in Generac by 432.9% during the fourth quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock worth $50,697,000 after purchasing an additional 318,664 shares during the last quarter. Ariel Investments LLC lifted its stake in Generac by 14.9% during the third quarter. Ariel Investments LLC now owns 2,010,344 shares of the technology company’s stock worth $219,047,000 after purchasing an additional 261,050 shares during the last quarter. Finally, DAVENPORT & Co LLC lifted its stake in Generac by 831.1% during the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after purchasing an additional 214,322 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

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.