Wells Fargo & Company Issues Pessimistic Forecast for Generac (NYSE:GNRC) Stock Price

Generac (NYSE:GNRC) had its target price dropped by investment analysts at Wells Fargo & Company from $175.00 to $165.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 9.79% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Barclays assumed coverage on shares of Generac in a research report on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 target price for the company. TD Cowen upped their price objective on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus cut their target price on shares of Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com upgraded Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Finally, The Goldman Sachs Group raised their price target on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and an average target price of $175.75.

Generac Stock Performance

Shares of Generac stock traded down $2.17 on Thursday, reaching $150.28. The stock had a trading volume of 242,432 shares, compared to its average volume of 827,361. Generac has a fifty-two week low of $108.89 and a fifty-two week high of $195.94. The business’s 50-day moving average price is $157.62 and its two-hundred day moving average price is $160.69. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. The stock has a market cap of $8.94 billion, a P/E ratio of 31.19, a price-to-earnings-growth ratio of 1.44 and a beta of 1.42.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.31. Generac had a net margin of 7.17% and a return on equity of 16.70%. On average, sell-side analysts forecast that Generac will post 6.91 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total transaction of $725,750.00. Following the sale, the chief executive officer now owns 565,825 shares of the company’s stock, valued at $82,129,498.75. This represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Generac

Large investors have recently modified their holdings of the business. Exchange Traded Concepts LLC bought a new position in shares of Generac during the third quarter valued at $114,000. Rheos Capital Works Inc. acquired a new stake in shares of Generac in the third quarter valued at about $4,766,000. Cornerstone Wealth Management LLC bought a new stake in Generac in the third quarter valued at approximately $227,000. Optimum Investment Advisors acquired a new stake in Generac during the 3rd quarter valued at approximately $99,000. Finally, Blue Trust Inc. raised its holdings in Generac by 73.5% during the 3rd quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock worth $36,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

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.