Canaccord Genuity Group Raises Generac (NYSE:GNRC) Price Target to $200.00

Generac (NYSE:GNRC) had its target price lifted by Canaccord Genuity Group from $177.00 to $200.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other brokerages have also recently commented on GNRC. Canaccord Genuity Group boosted their price target on Generac from $140.00 to $150.00 and gave the stock a buy rating in a research report on Friday, April 5th. Scotiabank boosted their target price on Generac from $147.00 to $160.00 and gave the stock a sector perform rating in a report on Monday, July 29th. JPMorgan Chase & Co. raised their price target on Generac from $149.00 to $155.00 and gave the company a neutral rating in a report on Tuesday, July 16th. TD Cowen upped their price target on shares of Generac from $144.00 to $172.00 and gave the stock a buy rating in a research note on Thursday. Finally, Wells Fargo & Company raised their price objective on shares of Generac from $139.00 to $156.00 and gave the company an equal weight rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $153.52.

Generac Price Performance

Shares of GNRC stock opened at $142.87 on Thursday. The business’s fifty day moving average is $144.91 and its 200 day moving average is $132.31. The company has a quick ratio of 0.97, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 39.36, a PEG ratio of 1.93 and a beta of 1.37. Generac has a twelve month low of $79.86 and a twelve month high of $169.57.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. Generac had a net margin of 6.03% and a return on equity of 15.35%. The firm had revenue of $998.20 million for the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the firm earned $1.08 EPS. The company’s revenue was down .2% compared to the same quarter last year. Research analysts expect that Generac will post 6.3 EPS for the current fiscal year.

Insider Buying and Selling at Generac

In other news, Director Nam Tran Nguyen sold 546 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $140.55, for a total transaction of $76,740.30. Following the completion of the sale, the director now owns 3,512 shares of the company’s stock, valued at approximately $493,611.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Generac news, EVP Erik Wilde sold 4,384 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $154.04, for a total value of $675,311.36. Following the completion of the transaction, the executive vice president now directly owns 17,897 shares in the company, valued at $2,756,853.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Nam Tran Nguyen sold 546 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $140.55, for a total transaction of $76,740.30. Following the sale, the director now owns 3,512 shares in the company, valued at $493,611.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,785 shares of company stock valued at $11,020,661. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Generac

Institutional investors have recently bought and sold shares of the business. ICA Group Wealth Management LLC bought a new position in shares of Generac in the fourth quarter worth about $27,000. EntryPoint Capital LLC lifted its holdings in Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after purchasing an additional 90 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake in Generac by 611.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after purchasing an additional 220 shares during the period. ORG Partners LLC purchased a new stake in Generac during the 4th quarter valued at approximately $38,000. Finally, Quarry LP raised its position in shares of Generac by 219.6% during the fourth quarter. Quarry LP now owns 294 shares of the technology company’s stock valued at $38,000 after buying an additional 202 shares during the last quarter. Hedge funds and other institutional investors 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.