Needham & Company LLC Begins Coverage on Generac (NYSE:GNRC)

Key Points

• Needham & Company LLC has initiated coverage on Generac (NYSE:GNRC), assigning a "buy" rating and a price target of $248.00, suggesting a potential upside of 28.69% from the current price.
• The stock has received a mix of ratings from analysts, with 13 analysts rating it as a buy, 7 as hold, and 1 as sell, leading to an overall consensus rating of "Moderate Buy" and an average target price of $188.94.
• Generac reported $1.65 earnings per share (EPS) last quarter, exceeding analysts' expectations, with revenue up 6.3% year-over-year, showcasing the company's positive financial performance.

Stock analysts at Needham & Company LLC initiated coverage on shares of Generac (NYSE:GNRC - Get Free Report) in a research report issued on Wednesday,Benzinga reports. The brokerage set a "buy" rating and a $248.00 price target on the technology company's stock. Needham & Company LLC's price objective indicates a potential upside of 28.69% from the stock's current price.

GNRC has been the topic of several other reports. Weiss Ratings reissued a "hold (c)" rating on shares of Generac in a report on Wednesday, October 8th. Wall Street Zen lowered Generac from a "buy" rating to a "hold" rating in a report on Sunday, September 28th. Citigroup reduced their target price on Generac from $219.00 to $217.00 and set a "neutral" rating on the stock in a report on Tuesday. Canaccord Genuity Group reduced their target price on Generac from $250.00 to $240.00 and set a "buy" rating on the stock in a report on Thursday, September 25th. Finally, JPMorgan Chase & Co. increased their target price on Generac from $180.00 to $196.00 and gave the stock a "neutral" rating in a report on Thursday, October 16th. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $188.94.

Generac Stock Performance

Shares of NYSE GNRC opened at $192.71 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.00 and a quick ratio of 0.88. The stock's fifty day moving average price is $182.14 and its two-hundred day moving average price is $151.96. Generac has a one year low of $99.50 and a one year high of $203.25. The firm has a market cap of $11.31 billion, a price-to-earnings ratio of 32.01, a P/E/G ratio of 1.56 and a beta of 1.64.

Generac (NYSE:GNRC - Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.32. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $1.35 EPS. Generac has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Generac will post 8 EPS for the current year.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $167.42, for a total value of $837,100.00. Following the completion of the sale, the chief executive officer owned 547,966 shares of the company's stock, valued at approximately $91,740,467.72. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On Generac

Institutional investors and hedge funds have recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB increased its stake in shares of Generac by 81.1% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company's stock valued at $25,000 after buying an additional 77 shares during the period. MUFG Securities EMEA plc acquired a new stake in shares of Generac in the second quarter valued at about $25,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Generac in the first quarter valued at about $28,000. Creative Capital Management Investments LLC grew its stake in Generac by 740.7% during the second quarter. Creative Capital Management Investments LLC now owns 227 shares of the technology company's stock worth $33,000 after purchasing an additional 200 shares during the period. Finally, Legend Financial Advisors Inc. acquired a new stake in Generac during the second quarter worth approximately $36,000. Institutional investors and hedge funds own 84.04% of the company's stock.

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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