The Goldman Sachs Group Issues Pessimistic Forecast for Generac (NYSE:GNRC) Stock Price

Generac (NYSE:GNRC) had its target price dropped by stock analysts at The Goldman Sachs Group from $193.00 to $168.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 13.16% from the company’s previous close.

A number of other brokerages also recently commented on GNRC. Truist Financial reduced their price objective on shares of Generac from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. UBS Group boosted their price target on Generac from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays began coverage on Generac in a research report on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of Generac from $175.00 to $165.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, TD Cowen raised their price target on shares of Generac from $172.00 to $183.00 and gave the company a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Generac has a consensus rating of “Moderate Buy” and an average target price of $174.00.

Generac Trading Down 2.6 %

Shares of NYSE:GNRC traded down $3.99 during trading on Thursday, reaching $148.47. 508,370 shares of the company were exchanged, compared to its average volume of 841,484. The business’s fifty day simple moving average is $157.62 and its 200-day simple moving average is $160.69. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. Generac has a 12-month low of $108.89 and a 12-month high of $195.94. The firm has a market capitalization of $8.83 billion, a PE ratio of 30.79, a P/E/G ratio of 1.44 and a beta of 1.42.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.31. Generac had a net margin of 7.17% and a return on equity of 16.70%. On average, research analysts anticipate that Generac will post 6.91 EPS for the current year.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total transaction of $725,750.00. Following the transaction, the chief executive officer now owns 565,825 shares in the company, valued at approximately $82,129,498.75. This represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Generac

A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Generac during the fourth quarter worth about $90,913,000. Boston Partners lifted its position in shares of Generac by 39.0% in the fourth quarter. Boston Partners now owns 1,903,297 shares of the technology company’s stock valued at $295,123,000 after acquiring an additional 533,612 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Generac by 81.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,042,785 shares of the technology company’s stock worth $161,684,000 after purchasing an additional 469,575 shares in the last quarter. Jennison Associates LLC raised its stake in Generac by 133.6% in the 4th quarter. Jennison Associates LLC now owns 672,213 shares of the technology company’s stock valued at $104,227,000 after purchasing an additional 384,434 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Generac in the 4th quarter valued at $46,785,000. 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.