Generac (NYSE:GNRC) Price Target Lowered to $240.00 at Canaccord Genuity Group

Key Points

• Generac's price target has been lowered from $250 to $240 by Canaccord Genuity, maintaining a "buy" rating with a potential upside of 43.40% from its previous close.
• Other analysts have varying price targets for Generac, with the average target currently at $184.11 and a rating of "Moderate Buy."
• Generac reported an earnings per share of $1.65 for the last quarter, exceeding estimates and showcasing a revenue growth of 6.3% year-over-year.

Generac (NYSE:GNRC - Get Free Report) had its price target cut by equities research analysts at Canaccord Genuity Group from $250.00 to $240.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Canaccord Genuity Group's price objective indicates a potential upside of 43.40% from the company's previous close.

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company increased their target price on Generac from $128.00 to $180.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. Citigroup reiterated a "neutral" rating and set a $219.00 target price (up previously from $138.00) on shares of Generac in a report on Tuesday, August 26th. Barclays set a $200.00 target price on Generac and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Roth Capital increased their price target on Generac from $122.00 to $140.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Guggenheim raised Generac from a "neutral" rating to a "buy" rating and set a $190.00 price target on the stock in a research note on Tuesday, July 29th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Generac presently has an average rating of "Moderate Buy" and an average price target of $184.11.

Generac Price Performance

Shares of NYSE:GNRC opened at $167.37 on Thursday. The business's fifty day moving average price is $181.78 and its two-hundred day moving average price is $145.77. The stock has a market cap of $9.82 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 1.34 and a beta of 1.63. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.88 and a current ratio of 2.00. Generac has a one year low of $99.50 and a one year high of $203.25.

Generac (NYSE:GNRC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.32. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.03 billion. Generac had a return on equity of 19.14% and a net margin of 7.91%.Generac's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.35 EPS. Generac has set its FY 2025 guidance at EPS. On average, analysts forecast that Generac will post 8 EPS for the current fiscal year.

Insider Buying and Selling at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $181.21, for a total value of $906,050.00. Following the transaction, the chief executive officer directly owned 552,966 shares of the company's stock, valued at approximately $100,202,968.86. This trade represents a 0.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in shares of Generac by 40.9% during the second quarter. Invesco Ltd. now owns 1,992,447 shares of the technology company's stock worth $285,338,000 after acquiring an additional 577,933 shares during the last quarter. Norges Bank purchased a new stake in shares of Generac during the second quarter worth about $53,138,000. Federated Hermes Inc. increased its position in shares of Generac by 63.5% during the second quarter. Federated Hermes Inc. now owns 749,347 shares of the technology company's stock worth $107,314,000 after acquiring an additional 291,012 shares during the last quarter. Holocene Advisors LP increased its position in shares of Generac by 346.6% during the second quarter. Holocene Advisors LP now owns 356,623 shares of the technology company's stock worth $51,072,000 after acquiring an additional 276,775 shares during the last quarter. Finally, Merewether Investment Management LP purchased a new stake in shares of Generac during the second quarter worth about $38,079,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.

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