JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Generac (NYSE:GNRC) Stock

Generac (NYSE:GNRC - Get Free Report) had its price target boosted by equities researchers at JPMorgan Chase & Co. from $141.00 to $144.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the technology company's stock. JPMorgan Chase & Co.'s target price suggests a potential downside of 3.26% from the company's current price.

A number of other brokerages have also recently weighed in on GNRC. Wall Street Zen raised Generac from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Janney Montgomery Scott upgraded Generac from a "neutral" rating to a "buy" rating in a research report on Wednesday, May 7th. Canaccord Genuity Group dropped their price target on Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company dropped their target price on Generac from $165.00 to $128.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. Finally, Barclays boosted their target price on Generac from $164.00 to $170.00 and gave the stock an "equal weight" rating in a report on Friday. Seven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Generac currently has a consensus rating of "Moderate Buy" and a consensus price target of $166.22.

Generac Stock Down 0.9%

Shares of NYSE:GNRC traded down $1.40 during trading on Tuesday, hitting $148.85. 75,768 shares of the company's stock traded hands, compared to its average volume of 853,989. Generac has a 52 week low of $99.50 and a 52 week high of $195.94. The company has a current ratio of 1.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48. The company has a market cap of $8.79 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 1.38 and a beta of 1.72. The company has a 50-day moving average price of $135.01 and a 200-day moving average price of $133.93.

Generac (NYSE:GNRC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The technology company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $0.99 by $0.27. Generac had a return on equity of 18.90% and a net margin of 7.68%. The business had revenue of $942.12 million for the quarter, compared to analyst estimates of $921.78 million. During the same period in the previous year, the firm earned $0.88 EPS. The firm's revenue was up 5.9% compared to the same quarter last year. As a group, research analysts forecast that Generac will post 8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the 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 sale, the chief executive officer owned 562,966 shares of the company's stock, valued at approximately $80,166,358.40. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Nebula Research & Development LLC bought a new position in shares of Generac in the 4th quarter valued at approximately $3,638,000. Pinebridge Investments L.P. grew its position in shares of Generac by 28.1% during the 4th quarter. Pinebridge Investments L.P. now owns 68,993 shares of the technology company's stock worth $10,697,000 after buying an additional 15,147 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position 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 worth $929,000 after buying an additional 1,195 shares during the period. Sequoia Financial Advisors LLC acquired a new position in Generac during the first quarter valued at approximately $245,000. Finally, Cambridge Investment Research Advisors Inc. increased its stake 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 worth $3,232,000 after purchasing an additional 3,345 shares during the period. Institutional investors and hedge funds own 84.04% of the company's stock.

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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