Canaccord Genuity Group Boosts Generac (NYSE:GNRC) Price Target to $300.00

Generac (NYSE:GNRC) had its target price increased by stock analysts at Canaccord Genuity Group from $275.00 to $300.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 54.59% from the company’s previous close.

GNRC has been the topic of several other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Generac in a research report on Thursday, January 22nd. Bank of America reduced their price objective on shares of Generac from $260.00 to $248.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. Roth Mkm reaffirmed a “neutral” rating and issued a $220.00 price objective on shares of Generac in a research note on Thursday, February 12th. Zacks Research upgraded shares of Generac from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. Finally, UBS Group reissued a “buy” rating and set a $270.00 target price on shares of Generac in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.94.

Generac Stock Performance

Shares of NYSE GNRC opened at $194.07 on Wednesday. Generac has a 1 year low of $99.50 and a 1 year high of $241.09. The firm has a market cap of $11.39 billion, a P/E ratio of 72.41, a PEG ratio of 1.41 and a beta of 1.78. The stock has a fifty day moving average price of $202.83 and a two-hundred day moving average price of $175.99. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.03.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, February 11th. The technology company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.20). Generac had a net margin of 3.79% and a return on equity of 14.55%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the company earned $2.80 EPS. The company’s quarterly revenue was down 11.6% compared to the same quarter last year. Research analysts forecast that Generac will post 8 EPS for the current fiscal year.

Insider Buying and Selling at Generac

In related news, CFO York A. Ragen sold 24,362 shares of Generac stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the transaction, the chief financial officer owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. This trade represents a 15.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. NewEdge Advisors LLC increased its position in shares of Generac by 6.2% in the first quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock worth $309,000 after acquiring an additional 142 shares in the last quarter. Woodline Partners LP lifted its position in shares of Generac by 40.9% in the 1st quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock valued at $638,000 after acquiring an additional 1,463 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in Generac by 4.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 2,237 shares of the technology company’s stock worth $320,000 after purchasing an additional 95 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in Generac by 0.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 58,847 shares of the technology company’s stock worth $8,427,000 after purchasing an additional 510 shares during the period. Finally, Level Four Advisory Services LLC purchased a new position in Generac during the 2nd quarter worth approximately $254,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Company Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.