Generac (GNRC) Price Target Cut to $47.00 by Analysts at Goldman Sachs Group

Generac (NYSE:GNRC) had its target price cut by Goldman Sachs Group from $53.00 to $47.00 in a research note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Goldman Sachs Group’s price objective points to a potential upside of 2.87% from the stock’s current price.

Other research analysts also recently issued research reports about the company. ValuEngine downgraded Generac from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. BidaskClub upgraded Generac from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Bank of America set a $56.00 target price on Generac and gave the stock a “buy” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded Generac from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Wednesday, January 10th. Finally, SunTrust Banks upgraded Generac from a “hold” rating to a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $51.36.

Generac (NYSE:GNRC) traded down $0.06 during mid-day trading on Thursday, hitting $45.69. The company’s stock had a trading volume of 263,632 shares, compared to its average volume of 508,101. Generac has a 1 year low of $33.77 and a 1 year high of $53.78. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.77 and a quick ratio of 1.01. The stock has a market cap of $2,840.00, a P/E ratio of 17.92, a price-to-earnings-growth ratio of 1.47 and a beta of 1.57.

Generac (NYSE:GNRC) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.17. Generac had a return on equity of 48.32% and a net margin of 9.53%. The firm had revenue of $488.00 million for the quarter, compared to the consensus estimate of $475.15 million. During the same quarter in the prior year, the business earned $1.12 EPS. The business’s revenue for the quarter was up 16.9% on a year-over-year basis. research analysts forecast that Generac will post 3.53 earnings per share for the current year.

In related news, CEO Aaron Jagdfeld sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $48.54, for a total value of $970,800.00. Following the sale, the chief executive officer now owns 969,911 shares in the company, valued at approximately $47,079,479.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc grew its stake in shares of Generac by 6.2% in the 3rd quarter. Legal & General Group Plc now owns 60,743 shares of the technology company’s stock worth $2,788,000 after buying an additional 3,547 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Generac by 52.3% in the 3rd quarter. Wells Fargo & Company MN now owns 222,348 shares of the technology company’s stock worth $10,212,000 after buying an additional 76,395 shares during the last quarter. Impax Asset Management AIFM Ltd grew its stake in shares of Generac by 1.9% in the 3rd quarter. Impax Asset Management AIFM Ltd now owns 416,809 shares of the technology company’s stock worth $19,144,000 after buying an additional 7,600 shares during the last quarter. State Street Corp grew its stake in shares of Generac by 5.1% in the 2nd quarter. State Street Corp now owns 1,241,485 shares of the technology company’s stock worth $44,855,000 after buying an additional 60,746 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Generac in the 3rd quarter worth approximately $420,000. Institutional investors own 96.23% of the company’s stock.

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Generac Company Profile

Generac Holdings Inc (Generac) is a designer and manufacturer of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business.

Analyst Recommendations for Generac (NYSE:GNRC)

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