Generac (GNRC) Given New $60.00 Price Target at Robert W. Baird

Generac (NYSE:GNRC) had its price target hoisted by Robert W. Baird from $58.00 to $60.00 in a report released on Friday. The brokerage currently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s target price would suggest a potential upside of 14.79% from the stock’s previous close.

GNRC has been the topic of a number of other reports. Zacks Investment Research cut shares of Generac from a “buy” rating to a “hold” rating in a research note on Thursday, July 5th. Goldman Sachs Group cut shares of Generac from a “neutral” rating to a “sell” rating and set a $49.00 price objective on the stock. in a research note on Monday, July 16th. Canaccord Genuity set a $54.00 price objective on shares of Generac and gave the company a “hold” rating in a research note on Tuesday, July 24th. KeyCorp reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Generac in a research note on Wednesday, August 1st. Finally, Stifel Nicolaus raised their price objective on shares of Generac from $52.00 to $56.00 and gave the company a “hold” rating in a research note on Thursday, August 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $56.98.

Shares of Generac stock traded down $1.45 during midday trading on Friday, reaching $52.27. The company had a trading volume of 633,966 shares, compared to its average volume of 743,904. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.94 and a quick ratio of 0.94. The firm has a market cap of $3.24 billion, a P/E ratio of 11.24, a P/E/G ratio of 1.94 and a beta of 1.35. Generac has a 1-year low of $42.96 and a 1-year high of $60.70.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Thursday, November 1st. The technology company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.35. The business had revenue of $559.52 million during the quarter, compared to analyst estimates of $502.94 million. Generac had a net margin of 12.45% and a return on equity of 49.80%. Generac’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 earnings per share. On average, sell-side analysts expect that Generac will post 4.18 EPS for the current year.

In other news, CEO Aaron Jagdfeld sold 20,000 shares of Generac stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $54.70, for a total transaction of $1,094,000.00. Following the transaction, the chief executive officer now directly owns 843,971 shares of the company’s stock, valued at $46,165,213.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Patrick John Forsythe sold 45,150 shares of Generac stock in a transaction on Friday, September 14th. The stock was sold at an average price of $57.05, for a total transaction of $2,575,807.50. Following the transaction, the executive vice president now directly owns 25,835 shares in the company, valued at $1,473,886.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,150 shares of company stock worth $6,313,548. Insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Virginia Retirement Systems ET AL bought a new position in shares of Generac during the third quarter worth $925,000. American Century Companies Inc. boosted its position in shares of Generac by 113.0% during the third quarter. American Century Companies Inc. now owns 401,053 shares of the technology company’s stock worth $22,623,000 after purchasing an additional 212,797 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Generac during the third quarter worth $179,000. Smith Asset Management Group LP boosted its position in shares of Generac by 4.2% during the third quarter. Smith Asset Management Group LP now owns 54,046 shares of the technology company’s stock worth $3,049,000 after purchasing an additional 2,190 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Generac by 21.6% during the third quarter. Wells Fargo & Company MN now owns 330,700 shares of the technology company’s stock worth $18,654,000 after purchasing an additional 58,836 shares in the last quarter. 97.67% of the stock is currently owned by institutional investors.

About Generac

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other engine powered products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.

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Analyst Recommendations for Generac (NYSE:GNRC)

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