Piper Sandler Forecasts Strong Price Appreciation for Generac (NYSE:GNRC) Stock

Generac (NYSE:GNRC - Get Free Report) had its target price raised by Piper Sandler from $190.00 to $200.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an "overweight" rating on the technology company's stock. Piper Sandler's price target points to a potential upside of 5.78% from the company's current price.

GNRC has been the subject of a number of other reports. JPMorgan Chase & Co. upped their target price on Generac from $160.00 to $178.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Stephens reiterated an "overweight" rating and set a $200.00 target price on shares of Generac in a research report on Monday, August 5th. Robert W. Baird dropped their price target on shares of Generac from $187.00 to $181.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. The Goldman Sachs Group lifted their price objective on Generac from $148.00 to $193.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, Scotiabank increased their target price on Generac from $147.00 to $160.00 and gave the stock a "sector perform" rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $174.58.

Generac Stock Performance

GNRC stock traded up $5.56 on Friday, reaching $189.08. 859,380 shares of the company were exchanged, compared to its average volume of 915,131. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. Generac has a 12 month low of $108.89 and a 12 month high of $195.94. The stock's fifty day moving average price is $168.12 and its 200 day moving average price is $153.44. The firm has a market capitalization of $11.25 billion, a PE ratio of 39.23, a PEG ratio of 2.25 and a beta of 1.37.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.16 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. The firm's revenue for the quarter was up 9.6% on a year-over-year basis. On average, research analysts anticipate that Generac will post 6.8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the sale, the chief executive officer now owns 557,177 shares in the company, valued at $92,825,688.20. The trade was a 0.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the transaction, the executive vice president now 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 disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock worth $7,584,853 in the last quarter. Insiders own 2.90% of the company's stock.

Institutional Trading of Generac

Institutional investors and hedge funds have recently made changes to their positions in the business. EntryPoint Capital LLC grew its stake in shares of Generac by 73.2% during the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company's stock worth $27,000 after purchasing an additional 90 shares during the period. Sunbelt Securities Inc. grew its position in shares of Generac by 97.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company's stock worth $27,000 after buying an additional 100 shares during the period. Brooklyn Investment Group acquired a new position in shares of Generac during the 3rd quarter worth about $31,000. SouthState Corp acquired a new stake in shares of Generac in the 3rd quarter valued at approximately $32,000. Finally, Capital Advisors Ltd. LLC boosted its stake in Generac by 611.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company's stock worth $34,000 after acquiring an additional 220 shares during the last quarter. 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.