Generac (NYSE:GNRC – Get Free Report) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.
GNRC has been the topic of several other reports. Citigroup lifted their price objective on shares of Generac from $226.00 to $263.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Stifel Nicolaus set a $275.00 price objective on shares of Generac in a research report on Thursday, April 30th. Roth Mkm reissued a “neutral” rating and set a $257.00 target price on shares of Generac in a research note on Thursday, April 30th. Barclays boosted their price target on shares of Generac from $213.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, March 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and a consensus price target of $276.88.
Get Our Latest Stock Analysis on GNRC
Generac Trading Down 6.0%
Generac (NYSE:GNRC – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.47. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. Generac’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $1.26 EPS. Sell-side analysts anticipate that Generac will post 8.91 earnings per share for the current year.
Insider Activity at Generac
In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the transaction, the chief executive officer owned 564,528 shares in the company, valued at $153,653,231.04. This trade represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. First Nebraska Trust Co acquired a new position in shares of Generac during the first quarter valued at approximately $7,199,000. Essential Partners LLC lifted its stake in Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after purchasing an additional 61 shares during the last quarter. Western Wealth Management LLC acquired a new stake in Generac during the first quarter valued at approximately $285,000. Bank of America Corp DE lifted its stake in Generac by 19.7% during the first quarter. Bank of America Corp DE now owns 742,576 shares of the technology company’s stock valued at $145,047,000 after purchasing an additional 122,101 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Generac during the first quarter valued at approximately $2,535,000. Institutional investors and hedge funds own 84.04% of the company’s stock.
About Generac
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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