Generac Holdings Inc. (NYSE:GNRC – Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $272.46 and last traded at $272.4430, with a volume of 106835 shares traded. The stock had previously closed at $269.41.
Wall Street Analyst Weigh In
GNRC has been the topic of several research reports. Stifel Nicolaus set a $275.00 price objective on shares of Generac in a research report on Thursday, April 30th. Jefferies Financial Group assumed coverage on shares of Generac in a research note on Friday, March 20th. They set a “hold” rating and a $222.00 price target for the company. Barclays lifted their price target on shares of Generac from $213.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, March 27th. Guggenheim reissued a “neutral” rating and set a $202.00 price objective on shares of Generac in a report on Tuesday, February 10th. Finally, Wells Fargo & Company raised their target price on Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Generac has an average rating of “Moderate Buy” and a consensus price target of $270.31.
Check Out Our Latest Report on Generac
Generac Price Performance
Generac (NYSE:GNRC – Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.47. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.26 earnings per share. On average, research analysts expect that Generac Holdings Inc. will post 8.91 earnings per share for the current year.
Insider Transactions at Generac
In other Generac news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the sale, the chief financial officer owned 137,182 shares in the company, valued at $32,321,451.02. This represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.70% of the stock is owned by insiders.
Hedge Funds Weigh In On Generac
Several hedge funds have recently made changes to their positions in the stock. Invesco Ltd. raised its stake in shares of Generac by 49.9% during the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after purchasing an additional 806,430 shares during the period. State Street Corp boosted its stake in Generac by 2.1% in the 2nd quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock worth $313,619,000 after purchasing an additional 45,592 shares during the period. Victory Capital Management Inc. grew its holdings in Generac by 17.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock valued at $355,530,000 after buying an additional 324,809 shares in the last quarter. Boston Partners grew its holdings in Generac by 7.1% during the 3rd quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock valued at $326,003,000 after buying an additional 128,439 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Generac by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock valued at $202,943,000 after buying an additional 6,332 shares during the period. 84.04% of the stock is currently owned by hedge funds and other institutional investors.
Generac Company Profile
Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.
Generac’s product lineup addresses a broad range of customer needs.
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