Wells Fargo & Company Issues Pessimistic Forecast for Generac (NYSE:GNRC) Stock Price

Generac (NYSE:GNRC - Get Free Report) had its price target lowered by investment analysts at Wells Fargo & Company from $175.00 to $165.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the technology company's stock. Wells Fargo & Company's price target would indicate a potential upside of 12.40% from the company's previous close.

A number of other brokerages have also recently commented on GNRC. TD Cowen boosted their price objective on Generac from $172.00 to $183.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Stifel Nicolaus cut their price target on Generac from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday. StockNews.com upgraded Generac from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. Piper Sandler cut their price target on Generac from $200.00 to $185.00 and set an "overweight" rating on the stock in a research note on Friday, February 7th. Finally, Barclays started coverage on Generac in a research note on Wednesday, December 4th. They issued an "equal weight" rating and a $189.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Generac presently has a consensus rating of "Moderate Buy" and an average target price of $174.00.

Generac Trading Down 0.0 %

GNRC stock traded down $0.03 during trading on Thursday, reaching $146.80. 1,028,876 shares of the stock traded hands, compared to its average volume of 743,531. The business's 50 day moving average price is $156.31 and its 200-day moving average price is $160.61. Generac has a 52-week low of $108.89 and a 52-week high of $195.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The firm has a market capitalization of $8.73 billion, a PE ratio of 30.46, a P/E/G ratio of 1.44 and a beta of 1.42.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.49 by $0.31. Generac had a return on equity of 16.70% and a net margin of 7.17%. As a group, sell-side analysts forecast that Generac will post 6.91 earnings per share for the current year.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $157.50, for a total value of $787,500.00. Following the completion of the transaction, the chief executive officer now directly owns 570,825 shares of the company's stock, valued at $89,904,937.50. This represents a 0.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.90% of the company's stock.

Hedge Funds Weigh In On Generac

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNRC. Norges Bank bought a new position in Generac in the 4th quarter worth approximately $90,913,000. Boston Partners lifted its position in Generac by 39.0% in the fourth quarter. Boston Partners now owns 1,903,297 shares of the technology company's stock worth $295,123,000 after purchasing an additional 533,612 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Generac by 81.9% in the fourth 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 lifted its position in Generac by 133.6% in the fourth quarter. Jennison Associates LLC now owns 672,213 shares of the technology company's stock worth $104,227,000 after purchasing an additional 384,434 shares during the period. Finally, Forest Avenue Capital Management LP acquired a new stake in Generac in the fourth quarter worth approximately $49,313,000. 84.04% of the stock is owned by institutional investors.

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.