Generac (NYSE:GNRC) Given New $162.00 Price Target at Citigroup

Generac (NYSE:GNRC) had its price target lowered by Citigroup from $172.00 to $162.00 in a report issued on Wednesday, Marketbeat reports. The firm currently has a neutral rating on the technology company’s stock.

A number of other brokerages have also recently weighed in on GNRC. Barclays initiated coverage on shares of Generac in a research note on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 price objective for the company. Robert W. Baird cut their target price on shares of Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. 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 research report on Friday, November 1st. JPMorgan Chase & Co. increased their target price on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Piper Sandler lifted their price target on Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.80.

Generac Trading Down 1.4 %

Shares of NYSE:GNRC opened at $158.76 on Wednesday. Generac has a 1 year low of $108.89 and a 1 year high of $195.94. The firm has a fifty day moving average price of $173.61 and a 200 day moving average price of $159.57. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $9.45 billion, a PE ratio of 32.94, a P/E/G ratio of 2.04 and a beta of 1.42.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm posted $1.64 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Analysts expect that Generac will post 6.84 EPS for the current fiscal year.

Insider Activity at Generac

In related news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the sale, the executive vice president now owns 10,738 shares in the company, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $157.50, for a total transaction of $787,500.00. Following the transaction, the chief executive officer now directly owns 570,825 shares of the company’s stock, valued at $89,904,937.50. This represents a 0.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock valued at $7,577,703 over the last quarter. 2.90% of the stock is owned by company insiders.

Institutional Trading of Generac

Several hedge funds have recently modified their holdings of GNRC. Sunbelt Securities Inc. lifted its position in Generac by 97.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after buying an additional 100 shares in the last quarter. Modus Advisors LLC bought a new position in shares of Generac in the fourth quarter worth about $27,000. Versant Capital Management Inc lifted its position in shares of Generac by 391.9% during the fourth quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock worth $28,000 after purchasing an additional 145 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Generac during the third quarter valued at approximately $31,000. Finally, SouthState Corp acquired a new stake in shares of Generac in the third quarter valued at approximately $32,000. 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.