Generac’s (GNRC) “Neutral” Rating Reaffirmed at JPMorgan Chase & Co.

Generac (NYSE:GNRC)‘s stock had its “neutral” rating reissued by research analysts at JPMorgan Chase & Co. in a note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $149.00 target price on the technology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 1.83% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Canaccord Genuity Group increased their target price on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Guggenheim cut shares of Generac from a “buy” rating to a “neutral” rating in a report on Thursday, February 15th. Robert W. Baird increased their price objective on shares of Generac from $112.00 to $129.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Citigroup increased their price objective on shares of Generac from $124.00 to $128.00 and gave the stock a “neutral” rating in a report on Monday, February 12th. Finally, UBS Group dropped their price objective on shares of Generac from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.65.

Generac Price Performance

Shares of GNRC stock opened at $151.78 on Thursday. The company has a market capitalization of $9.20 billion, a PE ratio of 41.81, a price-to-earnings-growth ratio of 2.11 and a beta of 1.41. The firm has a fifty day simple moving average of $132.26 and a 200-day simple moving average of $123.03. The company has a current ratio of 2.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61. Generac has a twelve month low of $79.86 and a twelve month high of $156.95.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.16. The business had revenue of $889.27 million during the quarter, compared to the consensus estimate of $886.60 million. Generac had a net margin of 5.68% and a return on equity of 14.68%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. Equities research analysts anticipate that Generac will post 6.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’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 directly owns 592,177 shares in the company, valued at $75,170,948.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’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 transaction, the chief executive officer now owns 592,177 shares of the company’s stock, valued at $75,170,948.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Nam Tran Nguyen sold 546 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $140.55, for a total transaction of $76,740.30. Following the transaction, the director now directly owns 3,512 shares in the company, valued at approximately $493,611.60. The disclosure for this sale can be found here. Insiders sold a total of 10,546 shares of company stock worth $1,411,190 over the last ninety days. 2.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Generac

A number of institutional investors have recently modified their holdings of GNRC. Capital World Investors bought a new position in shares of Generac in the fourth quarter valued at approximately $155,707,000. Norges Bank acquired a new stake in shares of Generac in the fourth quarter worth $67,253,000. Wellington Management Group LLP grew its stake in shares of Generac by 432.9% in the fourth quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock worth $50,697,000 after acquiring an additional 318,664 shares during the last quarter. Ariel Investments LLC grew its stake in shares of Generac by 14.9% in the third quarter. Ariel Investments LLC now owns 2,010,344 shares of the technology company’s stock worth $219,047,000 after acquiring an additional 261,050 shares during the last quarter. Finally, DAVENPORT & Co LLC grew its stake in shares of Generac by 831.1% in the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after acquiring an additional 214,322 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.