Generac (NYSE:GNRC) Price Target Cut to $128.00 by Analysts at Wells Fargo & Company

Generac (NYSE:GNRC) had its price objective reduced by Wells Fargo & Company from $165.00 to $128.00 in a research report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

GNRC has been the topic of a number of other reports. Bank of America initiated coverage on Generac in a report on Monday, March 24th. They set a “buy” rating and a $182.00 target price on the stock. The Goldman Sachs Group dropped their target price on shares of Generac from $193.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Piper Sandler reduced their target price on shares of Generac from $175.00 to $155.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Robert W. Baird dropped their price target on Generac from $171.00 to $127.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Stifel Nicolaus reduced their price objective on Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.20.

Generac Stock Up 1.6 %

Generac stock opened at $114.45 on Thursday. Generac has a 52 week low of $99.50 and a 52 week high of $195.94. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 1.44 and a beta of 1.73. The company’s 50-day moving average price is $122.07 and its two-hundred day moving average price is $149.60. The company has a current ratio of 1.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.48.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, April 30th. The technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.99 by $0.27. Generac had a return on equity of 18.17% and a net margin of 7.36%. The firm had revenue of $942.12 million for the quarter, compared to analysts’ expectations of $921.78 million. During the same quarter in the previous year, the company earned $0.88 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, analysts expect that Generac will post 8 EPS for the current fiscal year.

Insider Activity at Generac

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GNRC. Barclays PLC boosted its position in Generac by 41.4% during the third quarter. Barclays PLC now owns 185,193 shares of the technology company’s stock worth $29,425,000 after purchasing an additional 54,202 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Generac during the 3rd quarter worth $51,000. Synovus Financial Corp bought a new stake in shares of Generac during the 3rd quarter worth $300,000. Franklin Resources Inc. grew its stake in Generac by 106.1% in the 3rd quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company’s stock valued at $4,998,000 after buying an additional 14,811 shares during the last quarter. Finally, Retirement Systems of Alabama raised its holdings in Generac by 0.8% in the 3rd quarter. Retirement Systems of Alabama now owns 13,476 shares of the technology company’s stock worth $2,141,000 after acquiring an additional 105 shares during the period. 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.