Generac (NYSE:GNRC) Stock Price Target Cut by Cantor Fitzgerald

Key Points

• Cantor Fitzgerald cut Generac’s price target from $333 to $297 while maintaining an “overweight” rating, implying approximately 36.7% upside from the reported $217.24 share price.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $290.45, despite some target reductions and Zacks Research downgrading the stock to “hold.”
• Generac reported quarterly EPS of $2.91, exceeding the $2.01 consensus estimate, while revenue rose 10.3% year over year to $1.17 billion; institutional investors own 84.04% of the company.

Generac (NYSE:GNRC - Get Free Report) had its price target reduced by investment analysts at Cantor Fitzgerald from $333.00 to $297.00 in a research report issued on Monday, Benzinga reports. The firm currently has an "overweight" rating on the technology company's stock. Cantor Fitzgerald's price target points to a potential upside of 36.72% from the company's current price.

Several other research firms have also issued reports on GNRC. Robert W. Baird set a $305.00 price objective on Generac in a research note on Thursday, July 30th. Raymond James Financial set a $286.00 target price on shares of Generac in a research note on Thursday, September 17th. Citigroup lowered their target price on shares of Generac from $300.00 to $232.00 and set a "neutral" rating on the stock in a report on Wednesday. Needham & Company LLC reiterated a "buy" rating and set a $283.00 target price on shares of Generac in a research report on Thursday, September 17th. Finally, Zacks Research downgraded shares of Generac from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Generac has an average rating of "Moderate Buy" and a consensus target price of $290.45.

Generac Stock Up 0.2%

Shares of GNRC opened at $217.24 on Monday. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $200.61 and a two-hundred day moving average price of $226.17. The stock has a market cap of $12.82 billion, a price-to-earnings ratio of 50.06, a P/E/G ratio of 1.86 and a beta of 1.91. Generac has a 12 month low of $134.80 and a 12 month high of $296.44.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.90. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%.The company's revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.65 EPS. Equities analysts predict that Generac will post 9.74 EPS for the current fiscal year.

Insider Buying and Selling at Generac

In other Generac news, insider Norman Taffe sold 550 shares of the business's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total value of $120,356.50. Following the transaction, the insider owned 15,508 shares of the company's stock, valued at approximately $3,393,615.64. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $229.50, for a total value of $138,388.50. Following the sale, the insider owned 10,356 shares in the company, valued at $2,376,702. The trade was a 5.50% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 17,289 shares of company stock worth $3,409,173. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Generac

A number of institutional investors have recently modified their holdings of GNRC. BlackRock Inc. bought a new stake in shares of Generac during the second quarter valued at approximately $1,170,960,000. Arrowstreet Capital Limited Partnership raised its position in Generac by 9.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,038,493 shares of the technology company's stock worth $202,849,000 after purchasing an additional 86,863 shares during the last quarter. Bank of America Corp DE acquired a new position in Generac during the 2nd quarter worth $175,942,000. Park Presidio Capital LLC acquired a new position in Generac during the 2nd quarter worth $158,140,000. Finally, Amundi boosted its position in Generac by 5.0% in the 2nd quarter. Amundi now owns 454,516 shares of the technology company's stock valued at $133,087,000 after buying an additional 21,500 shares during the last quarter. 84.04% of the stock is owned by institutional investors.

About Generac

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.

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