Generac Holdings Inc. (NYSE:GNRC) Stock Has Consensus Target Price of $295.40

Shares of Generac Holdings Inc. (NYSE:GNRC) have been given a consensus recommendation of “Moderate Buy” by the twenty ratings firms that are presently covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $292.25.

GNRC has been the topic of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $333.00 target price on shares of Generac in a research report on Wednesday, September 16th. Jefferies Financial Group reissued a “buy” rating on shares of Generac in a research report on Thursday, September 17th. Wells Fargo & Company set a $280.00 price target on shares of Generac in a research note on Thursday, September 17th. Robert W. Baird set a $305.00 price objective on Generac in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. upped their price objective on Generac from $261.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, September 18th.

Insider Activity at Generac

In other Generac news, insider Norman P. Taffe sold 150 shares of Generac stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $229.50, for a total transaction of $34,425.00. Following the completion of the transaction, the insider directly owned 11,276 shares of the company’s stock, valued at approximately $2,587,842. This trade represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $182.21, for a total transaction of $911,050.00. Following the completion of the sale, the chief executive officer owned 549,528 shares in the company, valued at $100,129,496.88. This represents a 0.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,839 shares of company stock valued at $2,519,973 in the last 90 days. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Generac

A number of hedge funds have recently made changes to their positions in GNRC. BlackRock Inc. bought a new stake in Generac during the second quarter worth about $1,170,960,000. Geode Capital Management LLC raised its stake in shares of Generac by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock valued at $202,943,000 after acquiring an additional 6,332 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Generac by 9.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,038,493 shares of the technology company’s stock valued at $202,849,000 after acquiring an additional 86,863 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Generac in the 2nd quarter worth approximately $175,942,000. Finally, Park Presidio Capital LLC acquired a new position in shares of Generac in the 2nd quarter worth approximately $158,140,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Down 2.4%

Shares of GNRC stock opened at $207.10 on Friday. The stock has a market cap of $12.22 billion, a P/E ratio of 47.72, a price-to-earnings-growth ratio of 1.82 and a beta of 1.91. Generac has a one year low of $134.80 and a one year high of $296.44. The stock has a fifty day moving average price of $200.37 and a 200 day moving average price of $226.02. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company earned $1.65 earnings per share. The business’s revenue was up 10.3% compared to the same quarter last year. Analysts predict that Generac will post 9.74 earnings per share for the current year.

Generac Company Profile

Generac Holdings Inc is an energy technology company that designs and manufactures power generation equipment, energy storage systems and other products intended to provide backup and distributed energy solutions. Its offerings serve residential, commercial, industrial and other users seeking standby power, portable power or greater control over energy use.

The company’s product portfolio includes home standby generators, portable generators, commercial and industrial generators, mobile power equipment, engines and related transfer switches and controls.