Barclays Boosts Generac (NYSE:GNRC) Price Target to $228.00

Generac (NYSE:GNRC) had its price objective increased by analysts at Barclays from $213.00 to $228.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Barclays‘s target price indicates a potential upside of 16.07% from the stock’s previous close.

Several other research firms also recently weighed in on GNRC. Guggenheim reissued a “neutral” rating and set a $202.00 price target on shares of Generac in a research report on Tuesday, February 10th. Roth Mkm restated a “neutral” rating and issued a $220.00 price objective on shares of Generac in a research report on Thursday, February 12th. Bank of America dropped their price objective on Generac from $260.00 to $248.00 and set a “buy” rating for the company in a research report on Thursday. Citigroup downgraded shares of Generac from a “buy” rating to a “neutral” rating and boosted their target price for the company from $207.00 to $237.00 in a research note on Thursday, March 12th. Finally, Stifel Nicolaus set a $235.00 target price on shares of Generac in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.47.

Generac Stock Down 0.8%

Shares of NYSE GNRC opened at $196.43 on Friday. Generac has a 12-month low of $99.50 and a 12-month high of $241.09. The company has a market capitalization of $11.53 billion, a PE ratio of 73.30, a price-to-earnings-growth ratio of 1.49 and a beta of 1.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.03 and a quick ratio of 1.00. The firm’s 50-day moving average is $200.10 and its two-hundred day moving average is $175.68.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, February 11th. The technology company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). Generac had a return on equity of 14.55% and a net margin of 3.79%.The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the business earned $2.80 earnings per share. The company’s revenue for the quarter was down 11.6% on a year-over-year basis. Equities analysts anticipate that Generac will post 8 EPS for the current fiscal year.

Insider Activity

In other news, CFO York A. Ragen sold 24,362 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the sale, the chief financial officer owned 137,182 shares in the company, valued at $32,321,451.02. This trade represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Generac

Large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. increased its stake in shares of Generac by 53.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 22,951 shares of the technology company’s stock valued at $3,130,000 after acquiring an additional 8,026 shares during the last quarter. Meadowbrook Advisors Group LLC acquired a new stake in shares of Generac in the fourth quarter worth approximately $368,000. Hsbc Holdings PLC grew its holdings in Generac by 42.8% in the fourth quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company’s stock valued at $12,711,000 after purchasing an additional 27,893 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Generac by 166.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 418 shares of the technology company’s stock valued at $57,000 after purchasing an additional 261 shares during the period. Finally, MidFirst Bank acquired a new position in Generac during the fourth quarter worth approximately $580,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Company Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.