Generac (NYSE:GNRC) Rating Increased to Buy at Guggenheim

Key Points

• Generac has been upgraded from a "neutral" rating to a "buy" rating by Guggenheim, with a price target set at $190.00, indicating a potential upside of 22.15% from its prior close.
• Other analysts have mixed sentiments, with some lowering their targets and others maintaining "buy" ratings, leading to a consensus rating of "Moderate Buy" with an average price target of $165.85.
• Generac recently reported $1.26 earnings per share, exceeding estimates, and has seen a revenue increase of 5.9% year-over-year, showcasing strong financial performance despite market fluctuations.

Guggenheim upgraded shares of Generac (NYSE:GNRC - Free Report) from a neutral rating to a buy rating in a research report released on Tuesday, Marketbeat Ratings reports. Guggenheim currently has $190.00 price objective on the technology company's stock.

Other analysts also recently issued research reports about the stock. Canaccord Genuity Group dropped their price target on shares of Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. TD Cowen dropped their price target on shares of Generac from $173.00 to $155.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Robert W. Baird dropped their price target on shares of Generac from $171.00 to $127.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Piper Sandler dropped their price target on shares of Generac from $175.00 to $155.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company dropped their price target on shares of Generac from $165.00 to $128.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.28.

Generac Stock Down 0.6%

NYSE:GNRC traded down $1.12 on Tuesday, reaching $193.57. 2,059,026 shares of the stock traded hands, compared to its average volume of 1,160,604. The company has a market capitalization of $11.44 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 1.76 and a beta of 1.67. The company has a current ratio of 2.00, a quick ratio of 0.89 and a debt-to-equity ratio of 0.50. Generac has a 12 month low of $99.50 and a 12 month high of $197.18. The company's fifty day simple moving average is $142.00 and its 200 day simple moving average is $134.66.

Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.32. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. Generac had a net margin of 7.91% and a return on equity of 19.14%. Generac's revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business earned $1.35 EPS. Equities analysts predict that Generac will post 8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total value of $712,000.00. Following the completion of the sale, the chief executive officer directly owned 562,966 shares of the company's stock, valued at $80,166,358.40. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Generac

Large investors have recently added to or reduced their stakes in the company. Nebula Research & Development LLC bought a new position in Generac in the fourth quarter worth about $3,638,000. Pinebridge Investments L.P. increased its holdings in shares of Generac by 28.1% during the fourth quarter. Pinebridge Investments L.P. now owns 68,993 shares of the technology company's stock valued at $10,697,000 after acquiring an additional 15,147 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Generac by 19.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,311 shares of the technology company's stock valued at $929,000 after acquiring an additional 1,195 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of Generac during the first quarter valued at about $245,000. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Generac by 15.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 25,520 shares of the technology company's stock valued at $3,232,000 after acquiring an additional 3,345 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

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.