TD Cowen Issues Positive Forecast for Generac (NYSE:GNRC) Stock Price

Generac (NYSE:GNRC) had its price target upped by TD Cowen from $172.00 to $183.00 in a note issued to investors on Friday, Marketbeat reports. The brokerage presently has a “buy” rating on the technology company’s stock. TD Cowen’s target price suggests a potential upside of 8.34% from the company’s previous close.

A number of other analysts have also commented on GNRC. The Goldman Sachs Group boosted their price objective on Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Northland Securities increased their price target on Generac from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Citigroup lifted their price objective on shares of Generac from $128.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Truist Financial increased their target price on shares of Generac from $170.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company boosted their price target on shares of Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.10.

Generac Price Performance

Shares of NYSE:GNRC opened at $168.91 on Friday. Generac has a twelve month low of $98.27 and a twelve month high of $176.14. The stock’s 50 day moving average is $157.17 and its 200-day moving average is $148.31. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 2.13 and a beta of 1.37.

Generac (NYSE:GNRC) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.27. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.64 earnings per share. Sell-side analysts forecast that Generac will post 6.49 EPS for the current fiscal year.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the transaction, the chief executive officer now owns 562,177 shares in the company, valued at $89,346,790.61. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Capital World Investors lifted its position in shares of Generac by 2.1% during the first quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock worth $155,207,000 after acquiring an additional 25,646 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of Generac in the second quarter worth about $98,282,000. Dimensional Fund Advisors LP grew its stake in Generac by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock valued at $92,941,000 after acquiring an additional 35,026 shares in the last quarter. Ninety One UK Ltd increased its holdings in Generac by 0.7% during the 2nd quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock worth $68,720,000 after acquiring an additional 3,849 shares during the period. Finally, Blair William & Co. IL lifted its stake in Generac by 29.2% in the 2nd quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after purchasing an additional 103,439 shares in the last quarter. 84.04% of the stock is owned by 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.