Generac (NYSE:GNRC) Price Target Raised to $180.00 at Wells Fargo & Company

Key Points

• Generac's stock price target has been raised by Wells Fargo & Company from $128.00 to $180.00, indicating a potential downside of 8.03% from the current price.
• Despite a recent upgrade to a "buy" rating by various analysts, Generac has an average consensus rating of "Moderate Buy" with a target price of $174.58.
• In recent trading, Generac shares reached a price of $195.72 with a 12-month high of $196.61, reflecting a significant increase in trading volume compared to the average.

Generac (NYSE:GNRC - Get Free Report) had its target price lifted by equities research analysts at Wells Fargo & Company from $128.00 to $180.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "equal weight" rating on the technology company's stock. Wells Fargo & Company's price objective suggests a potential downside of 8.03% from the stock's current price.

Several other analysts also recently weighed in on the stock. Janney Montgomery Scott upgraded shares of Generac from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. Citigroup upgraded shares of Generac from a "neutral" rating to a "mixed" rating in a report on Friday, July 11th. Roth Capital lifted their target price on shares of Generac from $122.00 to $140.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Canaccord Genuity Group dropped their target price on shares of Generac from $200.00 to $180.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, UBS Group lifted their target price on shares of Generac from $200.00 to $220.00 and gave the company a "buy" rating in a report on Thursday. Six investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Generac presently has an average rating of "Moderate Buy" and a consensus target price of $174.58.

Generac Price Performance

Generac stock traded up $14.72 during midday trading on Thursday, reaching $195.72. The company had a trading volume of 2,008,027 shares, compared to its average volume of 923,915. The company has a market capitalization of $11.56 billion, a P/E ratio of 34.18, a P/E/G ratio of 1.37 and a beta of 1.72. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.89. Generac has a 12-month low of $99.50 and a 12-month high of $196.61. The firm's fifty day simple moving average is $139.18 and its 200-day simple moving average is $134.20.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. Generac had a net margin of 7.68% and a return on equity of 18.90%. 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. As a group, equities analysts anticipate that Generac will post 8 EPS for the current year.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total transaction of $712,000.00. Following the transaction, the chief executive officer directly owned 562,966 shares in the company, valued at $80,166,358.40. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GNRC. Norges Bank acquired a new position in Generac during the fourth quarter worth about $90,913,000. Forest Avenue Capital Management LP acquired a new position in Generac during the fourth quarter worth about $49,313,000. Raymond James Financial Inc. acquired a new position in Generac during the fourth quarter worth about $46,785,000. Invesco Ltd. grew its position in Generac by 25.3% during the first quarter. Invesco Ltd. now owns 1,414,514 shares of the technology company's stock worth $179,148,000 after buying an additional 285,388 shares during the period. Finally, Jones Financial Companies Lllp grew its position in Generac by 5,071.6% during the first quarter. Jones Financial Companies Lllp now owns 250,306 shares of the technology company's stock worth $31,701,000 after buying an additional 245,466 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Company Profile

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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