Shares of Generac Holdings Inc. (NYSE:GNRC – Get Free Report) have been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $276.8824.
Several research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Generac from $229.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Raymond James Financial set a $302.00 price target on shares of Generac in a report on Friday, May 22nd. Roth Mkm restated a “neutral” rating and issued a $257.00 price target on shares of Generac in a report on Thursday, April 30th. Bank of America lowered their price target on shares of Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a report on Thursday, March 26th. Finally, UBS Group raised their price target on shares of Generac from $270.00 to $305.00 and gave the company a “buy” rating in a report on Tuesday, May 5th.
Check Out Our Latest Research Report on GNRC
Generac Stock Down 0.5%
Generac (NYSE:GNRC – Get Free Report) last issued its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business earned $1.26 EPS. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. As a group, research analysts expect that Generac will post 8.91 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Generac
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. raised its position in shares of Generac by 49.9% in 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 last quarter. State Street Corp raised its position in shares of Generac by 2.1% in the 2nd quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock valued at $313,619,000 after purchasing an additional 45,592 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Generac by 17.9% in 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 purchasing an additional 324,809 shares during the last quarter. Boston Partners raised its position in shares of Generac by 7.1% in the 3rd quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock valued at $326,003,000 after purchasing an additional 128,439 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Generac by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock valued at $202,943,000 after purchasing an additional 6,332 shares during the last quarter. 84.04% of the stock is 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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