Needham & Company LLC Initiates Coverage on Generac (NYSE:GNRC)

Investment analysts at Needham & Company LLC started coverage on shares of Generac (NYSE:GNRC) in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $248.00 price target on the technology company’s stock. Needham & Company LLC’s target price points to a potential upside of 31.13% from the company’s current price.

Several other equities research analysts have also recently issued reports on GNRC. Zacks Research cut Generac from a “hold” rating to a “strong sell” rating in a research note on Friday, October 17th. Citigroup lowered their price target on Generac from $219.00 to $217.00 and set a “neutral” rating for the company in a report on Tuesday. Wall Street Zen lowered shares of Generac from a “buy” rating to a “hold” rating in a report on Sunday, September 28th. TD Cowen upped their target price on shares of Generac from $155.00 to $198.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Finally, Guggenheim lowered their target price on shares of Generac from $210.00 to $202.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $188.94.

Generac Price Performance

Generac stock opened at $189.13 on Wednesday. The company has a current ratio of 2.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average price of $181.54 and a 200 day moving average price of $152.71. Generac has a 12-month low of $99.50 and a 12-month high of $203.25. The stock has a market cap of $11.10 billion, a P/E ratio of 31.42, a PEG ratio of 1.55 and a beta of 1.64.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.32. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Generac had a net margin of 7.91% and a return on equity of 19.14%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.35 EPS. Generac has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Generac will post 8 earnings per share for the current year.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $167.42, for a total transaction of $837,100.00. Following the sale, the chief executive officer directly owned 547,966 shares in the company, valued at $91,740,467.72. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GNRC. MassMutual Private Wealth & Trust FSB increased its stake in Generac by 81.1% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company’s stock worth $25,000 after buying an additional 77 shares during the period. MUFG Securities EMEA plc purchased a new stake in shares of Generac during the second quarter worth $25,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Generac during the first quarter worth $28,000. Creative Capital Management Investments LLC raised its stake in shares of Generac by 740.7% in the second quarter. Creative Capital Management Investments LLC now owns 227 shares of the technology company’s stock valued at $33,000 after acquiring an additional 200 shares in the last quarter. Finally, Legend Financial Advisors Inc. purchased a new position in Generac in the second quarter valued at $36,000. 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.