Piper Sandler Raises Generac (NYSE:GNRC) Price Target to $200.00

Generac (NYSE:GNRC) had its price objective boosted by Piper Sandler from $190.00 to $200.00 in a report issued on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the technology company’s stock.

Several other analysts also recently issued reports on the stock. Citigroup lifted their price target on shares of Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their price objective 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. The Goldman Sachs Group lifted their price objective on shares of Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen lifted their price objective on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Scotiabank lifted their price objective on shares of Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.58.

Generac Stock Performance

NYSE GNRC opened at $191.58 on Friday. The company has a fifty day simple moving average of $168.12 and a 200 day simple moving average of $153.67. Generac has a 12-month low of $108.89 and a 12-month high of $195.94. 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 company has a market cap of $11.40 billion, a P/E ratio of 39.93, a PEG ratio of 2.32 and a beta of 1.37.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted $1.64 EPS. Generac’s revenue was up 9.6% compared to the same quarter last year. Sell-side analysts predict that Generac will post 6.8 earnings per share for the current fiscal year.

Insider Activity at Generac

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the sale, the executive vice president now directly owns 10,738 shares in the company, valued at $1,971,282.04. This represents a 22.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO York A. Ragen sold 29,081 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total value of $5,372,133.13. Following the sale, the chief financial officer now owns 135,613 shares in the company, valued at approximately $25,051,789.49. This represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,268 shares of company stock worth $7,584,853. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of GNRC. Synovus Financial Corp purchased a new stake in Generac in the third quarter worth approximately $300,000. Wilmington Savings Fund Society FSB bought a new position in shares of Generac during the third quarter valued at approximately $51,000. Morse Asset Management Inc raised its holdings in shares of Generac by 2.4% during the third quarter. Morse Asset Management Inc now owns 6,084 shares of the technology company’s stock valued at $967,000 after acquiring an additional 145 shares in the last quarter. Diamant Asset Management Inc. raised its holdings in shares of Generac by 11.7% during the third quarter. Diamant Asset Management Inc. now owns 3,810 shares of the technology company’s stock valued at $605,000 after acquiring an additional 400 shares in the last quarter. Finally, Coldstream Capital Management Inc. bought a new position in Generac in the third quarter worth $203,000. Hedge funds and other institutional investors 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.