Generac (NYSE:GNRC) Given New $235.00 Price Target at Citigroup

Generac (NYSE:GNRC) had its target price increased by equities research analysts at Citigroup from $232.00 to $235.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. Citigroup‘s target price suggests a potential upside of 18.87% from the stock’s previous close.

Several other analysts also recently issued reports on GNRC. Stephens reaffirmed an “overweight” rating and issued a $335.00 price objective on shares of Generac in a research report on Thursday, September 17th. Zacks Research cut shares of Generac from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Robert W. Baird set a $287.00 target price on shares of Generac in a research report on Thursday. Cantor Fitzgerald decreased their target price on shares of Generac from $333.00 to $297.00 and set an “overweight” rating for the company in a research note on Monday, October 5th. Finally, Canaccord Genuity Group raised their price target on shares of Generac from $275.00 to $375.00 and gave the company a “buy” rating in a report on Thursday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Generac has a consensus rating of “Moderate Buy” and a consensus price target of $290.41.

Generac Stock Down 2.8%

Shares of NYSE GNRC traded down $5.66 on Friday, hitting $197.70. The company had a trading volume of 1,837,476 shares, compared to its average volume of 1,098,274. Generac has a 12-month low of $134.80 and a 12-month high of $296.44. The business has a 50 day moving average of $199.37 and a two-hundred day moving average of $217.29. The company has a quick ratio of 1.00, a current ratio of 1.97 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $11.67 billion, a P/E ratio of 39.15, a PEG ratio of 1.72 and a beta of 1.91.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, October 28th. The technology company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.14. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.32 billion. Generac had a return on equity of 18.78% and a net margin of 6.52%. The company’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.83 earnings per share. As a group, equities research analysts forecast that Generac will post 9.74 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total value of $120,356.50. Following the sale, the insider directly owned 15,508 shares of the company’s stock, valued at $3,393,615.64. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of the company’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $212.57, for a total transaction of $128,179.71. Following the completion of the sale, the insider directly owned 9,966 shares in the company, valued at $2,118,472.62. This represents a 5.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 18,442 shares of company stock worth $3,656,537. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Generac

Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Generac in the second quarter valued at about $1,170,960,000. Arrowstreet Capital Limited Partnership raised its stake in Generac by 9.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,038,493 shares of the technology company’s stock valued at $202,849,000 after buying an additional 86,863 shares in the last quarter. Bank of America Corp DE acquired a new stake in Generac during the second quarter valued at approximately $175,942,000. Park Presidio Capital LLC bought a new position in Generac during the 2nd quarter worth approximately $158,140,000. Finally, Amundi lifted its holdings in Generac by 5.0% during the 2nd quarter. Amundi now owns 454,516 shares of the technology company’s stock worth $133,087,000 after buying an additional 21,500 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

Generac Company Profile

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.