TD Cowen Issues Pessimistic Forecast for Generac (NYSE:GNRC) Stock Price

Generac (NYSE:GNRC) had its price objective decreased by research analysts at TD Cowen from $173.00 to $155.00 in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm currently has a “buy” rating on the technology company’s stock. TD Cowen’s target price suggests a potential upside of 35.43% from the company’s current price.

GNRC has been the topic of several other reports. UBS Group increased their price objective on Generac from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Truist Financial dropped their price target on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Guggenheim raised shares of Generac from a “sell” rating to a “neutral” rating in a report on Monday, March 17th. Piper Sandler dropped their target price on shares of Generac from $175.00 to $155.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Finally, Robert W. Baird decreased their target price on shares of Generac from $172.00 to $171.00 and set a “neutral” 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. Based on data from MarketBeat, Generac currently has an average rating of “Moderate Buy” and a consensus price target of $167.20.

Generac Stock Up 1.6 %

NYSE:GNRC opened at $114.45 on Thursday. The firm has a 50-day simple moving average of $122.07 and a two-hundred day simple moving average of $149.77. The firm has a market cap of $6.82 billion, a P/E ratio of 21.19, a P/E/G ratio of 1.44 and a beta of 1.58. Generac has a fifty-two week low of $99.50 and a fifty-two week high of $195.94. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.97 and a current ratio of 1.97.

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

Insider Activity

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value 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. The trade was a 0.88 % decrease in their position. The transaction was disclosed in a legal 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

Several large investors have recently bought and sold shares of GNRC. Norges Bank bought a new position in shares of Generac during the 4th quarter valued at approximately $90,913,000. Boston Partners lifted its holdings in shares of Generac by 39.0% in the 4th quarter. Boston Partners now owns 1,903,297 shares of the technology company’s stock worth $295,123,000 after acquiring an additional 533,612 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Generac by 81.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company’s stock worth $161,684,000 after purchasing an additional 469,575 shares during the period. Jennison Associates LLC grew its holdings in Generac by 133.6% during the 4th quarter. Jennison Associates LLC now owns 672,213 shares of the technology company’s stock valued at $104,227,000 after purchasing an additional 384,434 shares during the last quarter. Finally, Forest Avenue Capital Management LP purchased a new stake in Generac in the 4th quarter worth about $49,313,000. Institutional investors 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.