Barclays Issues Positive Forecast for Generac (NYSE:GNRC) Stock Price

Key Points

• Barclays raised its price target for Generac from $213 to $228 and maintained an "equal weight" rating, implying roughly a 16.07% upside from the prior close.
• Generac's most recent quarter missed expectations with EPS $1.61 vs. $1.81 expected and revenue of $1.09B vs. $1.16B expected, with revenue down 11.6% year‑over‑year.
• CFO York A. Ragen sold 24,362 shares at about $235.61 (reducing his stake by 15.08%), and approximately 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac (NYSE:GNRC - Get Free Report) had its price target increased by analysts at Barclays from $213.00 to $228.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "equal weight" rating on the technology company's stock. Barclays's price objective indicates a potential upside of 16.07% from the company's previous close.

Several other brokerages also recently weighed in on GNRC. Stifel Nicolaus set a $235.00 target price on shares of Generac in a report on Thursday, February 12th. JPMorgan Chase & Co. raised shares of Generac from a "neutral" rating to an "overweight" rating and set a $200.00 price target for the company in a report on Monday, December 8th. UBS Group restated a "buy" rating and issued a $270.00 price objective on shares of Generac in a research report on Friday, February 13th. Citigroup lowered Generac from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $207.00 to $237.00 in a report on Thursday, March 12th. Finally, Jefferies Financial Group initiated coverage on Generac in a research note on Friday, March 20th. They set a "hold" rating and a $222.00 target price for the company. 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $228.47.

Generac Trading Down 0.8%

NYSE:GNRC opened at $196.43 on Friday. Generac has a 12-month low of $99.50 and a 12-month high of $241.09. The company has a current ratio of 2.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48. The stock's 50 day simple moving average is $200.10 and its 200-day simple moving average is $175.68. The firm has a market cap of $11.53 billion, a P/E ratio of 73.30, a PEG ratio of 1.49 and a beta of 1.74.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.20). The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a return on equity of 14.55% and a net margin of 3.79%.Generac's revenue for the quarter was down 11.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.80 earnings per share. Equities analysts anticipate that Generac will post 8 EPS for the current year.

Insider Activity

In related news, CFO York A. Ragen sold 24,362 shares of the firm's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the completion of the sale, the chief financial officer owned 137,182 shares in the company, valued at $32,321,451.02. This trade represents a 15.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GNRC. MUFG Securities EMEA plc acquired a new stake in shares of Generac in the 2nd quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Generac during the third quarter worth $26,000. First Horizon Corp purchased a new stake in Generac during the third quarter worth $28,000. Sentry Investment Management LLC grew its holdings in Generac by 69.8% in the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company's stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Finally, Quent Capital LLC acquired a new stake in Generac in the third quarter valued at $41,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

About Generac

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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