Generac (NYSE:GNRC) Given a $80.00 Price Target by Canaccord Genuity Analysts

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Generac (NYSE:GNRC) has been given a $80.00 target price by equities researchers at Canaccord Genuity in a research note issued on Thursday, TipRanks reports. The brokerage currently has a “hold” rating on the technology company’s stock. Canaccord Genuity’s price objective indicates a potential downside of 3.98% from the stock’s previous close.

GNRC has been the topic of several other research reports. ValuEngine lowered Generac from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered Generac from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Robert W. Baird raised Generac from a “neutral” rating to an “outperform” rating and upped their price target for the company from $64.00 to $86.00 in a research note on Monday, July 1st. Finally, Bank of America reaffirmed a “buy” rating and issued a $88.00 price target on shares of Generac in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $82.60.

Shares of Generac stock traded up $0.83 during trading hours on Thursday, hitting $83.32. The company’s stock had a trading volume of 405,087 shares, compared to its average volume of 636,369. Generac has a twelve month low of $45.43 and a twelve month high of $88.22. The firm has a fifty day moving average of $79.06 and a 200-day moving average of $66.82. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 2.76 and a beta of 1.15. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.00 and a current ratio of 2.19.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.12. Generac had a return on equity of 38.99% and a net margin of 12.09%. The business had revenue of $541.90 million for the quarter, compared to analyst estimates of $538.96 million. During the same quarter in the prior year, the company posted $1.11 EPS. The company’s quarterly revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts expect that Generac will post 4.8 earnings per share for the current fiscal year.

In related news, insider Russell S. Minick sold 10,328 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $73.91, for a total value of $763,342.48. Following the sale, the insider now owns 24,743 shares in the company, valued at approximately $1,828,755.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Erik Wilde sold 7,587 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $71.44, for a total value of $542,015.28. Following the completion of the sale, the executive vice president now owns 11,196 shares in the company, valued at approximately $799,842.24. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of GNRC. GYL Financial Synergies LLC purchased a new stake in shares of Generac in the 1st quarter valued at $697,000. WINTON GROUP Ltd purchased a new stake in shares of Generac in the 2nd quarter valued at $520,000. First Hawaiian Bank raised its holdings in shares of Generac by 12.1% in the 2nd quarter. First Hawaiian Bank now owns 6,850 shares of the technology company’s stock valued at $475,000 after buying an additional 740 shares during the period. KG&L Capital Management LLC purchased a new stake in shares of Generac in the 2nd quarter valued at $242,000. Finally, NEXT Financial Group Inc raised its holdings in shares of Generac by 21.0% in the 2nd quarter. NEXT Financial Group Inc now owns 4,413 shares of the technology company’s stock valued at $306,000 after buying an additional 765 shares during the period. Hedge funds and other institutional investors own 96.41% of the company’s stock.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.

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Analyst Recommendations for Generac (NYSE:GNRC)

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