Canaccord Genuity Group Boosts Generac (NYSE:GNRC) Price Target to $150.00

Generac (NYSE:GNRC) had its price objective increased by Canaccord Genuity Group from $140.00 to $150.00 in a report issued on Friday, Briefing.com reports. The firm currently has a buy rating on the technology company’s stock.

Several other analysts have also commented on the stock. Robert W. Baird raised their price target on shares of Generac from $112.00 to $129.00 and gave the company a neutral rating in a research report on Thursday, February 15th. Guggenheim lowered shares of Generac from a buy rating to a neutral rating in a research report on Thursday, February 15th. Roth Mkm raised their price target on shares of Generac from $105.00 to $118.00 and gave the company a neutral rating in a research report on Tuesday, February 6th. Canaccord Genuity Group increased their price objective on shares of Generac from $140.00 to $150.00 and gave the company a buy rating in a report on Friday. Finally, OTR Global raised shares of Generac from a mixed rating to a positive rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $140.80.

Generac Trading Up 0.8 %

Shares of Generac stock opened at $135.51 on Friday. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 41.19, a PEG ratio of 1.77 and a beta of 1.45. Generac has a 12-month low of $79.86 and a 12-month high of $156.95. The firm’s 50 day simple moving average is $118.63 and its two-hundred day simple moving average is $114.32. The company has a current ratio of 2.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.62.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, February 14th. The technology company reported $2.07 earnings per share for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.02). The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.09 billion. Generac had a return on equity of 14.15% and a net margin of 5.33%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.78 EPS. Analysts predict that Generac will post 6.31 EPS for the current year.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $126.94, for a total transaction of $634,700.00. Following the completion of the sale, the chief executive officer now owns 592,177 shares in the company, valued at approximately $75,170,948.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.80% of the company’s stock.

Institutional Trading of Generac

Several institutional investors and hedge funds have recently bought and sold shares of GNRC. Capital World Investors acquired a new position in shares of Generac during the 4th quarter worth $155,707,000. Norges Bank purchased a new stake in shares of Generac in the 4th quarter worth about $59,121,000. Macquarie Group Ltd. boosted its position in shares of Generac by 61.8% in the 1st quarter. Macquarie Group Ltd. now owns 1,244,286 shares of the technology company’s stock worth $134,395,000 after buying an additional 475,104 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Generac by 432.9% in the 4th quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock worth $50,697,000 after buying an additional 318,664 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of Generac in the 4th quarter worth about $30,537,000. 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.