Wells Fargo & Company Has Lowered Expectations for Generac (NYSE:GNRC) Stock Price

Generac (NYSE:GNRC) had its price objective cut by investment analysts at Wells Fargo & Company from $175.00 to $165.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 12.40% from the stock’s current price.

A number of other research analysts have also recently commented on GNRC. The Goldman Sachs Group increased their price target on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Truist Financial decreased their price objective on Generac from $210.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Citigroup decreased their price objective on Generac from $172.00 to $162.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Robert W. Baird decreased their price objective on Generac from $172.00 to $171.00 and set a “neutral” rating for the company in a report on Thursday. Finally, TD Cowen increased their price objective on Generac from $172.00 to $183.00 and gave the company a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.00.

Generac Stock Down 0.0 %

NYSE GNRC opened at $146.80 on Thursday. Generac has a fifty-two week low of $108.89 and a fifty-two week high of $195.94. The stock has a market capitalization of $8.73 billion, a PE ratio of 30.46, a PEG ratio of 1.44 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The business has a fifty day moving average price of $156.31 and a two-hundred day moving average price of $160.54.

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

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $157.50, for a total transaction of $787,500.00. Following the transaction, the chief executive officer now owns 570,825 shares of the company’s stock, valued at $89,904,937.50. This trade represents a 0.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Generac

Large investors have recently modified their holdings of the stock. Raymond James Trust N.A. increased its stake in shares of Generac by 52.8% during the 3rd quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company’s stock worth $541,000 after purchasing an additional 1,177 shares during the last quarter. Nordea Investment Management AB purchased a new position in Generac in the 4th quarter valued at approximately $5,229,000. Global Financial Private Client LLC purchased a new position in Generac in the 4th quarter valued at approximately $614,000. Principal Financial Group Inc. grew its stake in Generac by 5.0% in the 3rd quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock valued at $11,324,000 after buying an additional 3,426 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Generac by 106.1% in the 3rd quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company’s stock valued at $4,998,000 after buying an additional 14,811 shares in the last quarter. Hedge funds and other institutional investors 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.