Truist Financial Cuts Generac (NYSE:GNRC) Price Target to $200.00

Generac (NYSE:GNRC) had its price objective trimmed by Truist Financial from $210.00 to $200.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other brokerages have also issued reports on GNRC. Citigroup dropped their price objective on shares of Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Piper Sandler lifted their target price on Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Robert W. Baird cut their price objective on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Stifel Nicolaus lifted their price objective on shares of Generac from $185.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group boosted their target price on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Generac currently has an average rating of “Moderate Buy” and an average price target of $174.30.

Generac Price Performance

Shares of NYSE:GNRC opened at $160.13 on Thursday. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $9.53 billion, a PE ratio of 33.22, a PEG ratio of 1.59 and a beta of 1.42. The firm has a 50 day moving average of $171.48 and a 200-day moving average of $160.40. Generac has a 12 month low of $108.89 and a 12 month high of $195.94.

Generac (NYSE:GNRC) last released its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.64 earnings per share. On average, equities research analysts predict that Generac will post 6.91 EPS for the current fiscal year.

Insider Transactions at Generac

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total value of $585,069.46. Following the sale, the executive vice president now directly owns 10,738 shares in the company, valued at approximately $1,971,282.04. This trade represents a 22.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $166.60, for a total value of $833,000.00. Following the transaction, the chief executive officer now owns 557,177 shares of the company’s stock, valued at approximately $92,825,688.20. This represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,268 shares of company stock worth $7,577,703. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Generac

Several institutional investors and hedge funds have recently bought and sold shares of GNRC. Sunbelt Securities Inc. grew its holdings in shares of Generac by 97.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after acquiring an additional 100 shares during the period. Modus Advisors LLC purchased a new position in Generac during the fourth quarter valued at $27,000. Versant Capital Management Inc grew its position in shares of Generac by 391.9% in the 4th quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock worth $28,000 after buying an additional 145 shares during the period. Cranbrook Wealth Management LLC purchased a new stake in Generac in the fourth quarter worth about $28,000. Finally, Brooklyn Investment Group bought a new position in shares of Generac during the third quarter valued at approximately $31,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

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.