The Goldman Sachs Group Forecasts Strong Price Appreciation for Generac (NYSE:GNRC) Stock

Generac (NYSE:GNRC) had its price objective hoisted by research analysts at The Goldman Sachs Group from $148.00 to $193.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 13.42% from the company’s current price.

Several other research firms also recently weighed in on GNRC. TD Cowen lifted their target price on Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research report on Friday. Scotiabank boosted their price objective on Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Stephens restated an “overweight” rating and issued a $200.00 price objective on shares of Generac in a research report on Monday, August 5th. StockNews.com upgraded Generac from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Wells Fargo & Company boosted their price objective on Generac from $139.00 to $156.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $169.10.

Generac Stock Performance

NYSE GNRC traded up $4.61 on Friday, hitting $170.16. 522,905 shares of the company traded hands, compared to its average volume of 949,230. The company has a market capitalization of $10.24 billion, a price-to-earnings ratio of 43.79, a P/E/G ratio of 2.12 and a beta of 1.38. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $156.93 and its 200-day moving average price is $147.89. Generac has a 52-week low of $98.27 and a 52-week high of $176.14.

Generac (NYSE:GNRC) last released its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.27. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. Generac’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.64 earnings per share. Equities analysts expect that Generac will post 6.49 earnings per share for the current year.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the sale, the chief executive officer now directly owns 562,177 shares of the company’s stock, valued at $89,346,790.61. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Generac

Several large investors have recently added to or reduced their stakes in GNRC. Duncker Streett & Co. Inc. grew its stake in shares of Generac by 2.4% during the second quarter. Duncker Streett & Co. Inc. now owns 2,932 shares of the technology company’s stock valued at $388,000 after buying an additional 68 shares during the last quarter. Empirical Finance LLC grew its stake in shares of Generac by 4.5% during the first quarter. Empirical Finance LLC now owns 1,748 shares of the technology company’s stock valued at $220,000 after buying an additional 75 shares during the last quarter. Johnson Investment Counsel Inc. grew its stake in shares of Generac by 0.3% during the second quarter. Johnson Investment Counsel Inc. now owns 22,549 shares of the technology company’s stock valued at $2,981,000 after buying an additional 75 shares during the last quarter. EntryPoint Capital LLC grew its stake in shares of Generac by 73.2% during the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after buying an additional 90 shares during the last quarter. Finally, Mather Group LLC. grew its stake in shares of Generac by 6.5% during the third quarter. Mather Group LLC. now owns 1,528 shares of the technology company’s stock valued at $243,000 after buying an additional 93 shares during the last quarter. 84.04% of the stock is owned by institutional investors.

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.