Stock analysts at Cantor Fitzgerald initiated coverage on shares of Generac (NYSE:GNRC – Get Free Report) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $325.00 price target on the technology company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 50.93% from the stock’s current price.
Several other analysts also recently commented on GNRC. Argus upped their price target on shares of Generac from $255.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Barclays lifted their price objective on shares of Generac from $228.00 to $285.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. TD Cowen restated a “buy” rating on shares of Generac in a research report on Monday. Bank of America reduced their target price on shares of Generac from $260.00 to $248.00 and set a “buy” rating for the company in a research note on Thursday, March 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Generac in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $286.44.
Read Our Latest Stock Analysis on GNRC
Generac Price Performance
Generac (NYSE:GNRC – Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.26 earnings per share. Equities analysts expect that Generac will post 8.91 EPS for the current fiscal year.
Insiders Place Their Bets
In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the transaction, the chief executive officer owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $256.00, for a total value of $140,800.00. Following the completion of the transaction, the insider owned 15,808 shares of the company’s stock, valued at $4,046,848. The trade was a 3.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,100 shares of company stock worth $1,651,443 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.
Institutional Trading of Generac
Several hedge funds and other institutional investors have recently made changes to their positions in GNRC. Caitong International Asset Management Co. Ltd acquired a new position in Generac during the third quarter worth about $26,000. Avalon Trust Co acquired a new stake in shares of Generac during the 1st quarter valued at approximately $32,000. Essential Partners LLC boosted its stake in shares of Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after acquiring an additional 61 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of Generac in the 2nd quarter worth approximately $25,000. Finally, GHP Investment Advisors Inc. acquired a new stake in shares of Generac in the 1st quarter worth approximately $36,000. Institutional investors and hedge funds own 84.04% of the company’s stock.
Generac Company Profile
Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.
Generac’s product lineup addresses a broad range of customer needs.
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