Generac (NYSE:GNRC – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.
GNRC has been the topic of several other research reports. Citigroup dropped their price target on shares of Generac from $300.00 to $232.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. Needham & Company LLC restated a “buy” rating and issued a $283.00 target price on shares of Generac in a research report on Thursday, September 17th. Wells Fargo & Company set a $280.00 target price on Generac in a research report on Thursday, September 17th. Zacks Research downgraded Generac from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Finally, Stephens reiterated an “overweight” rating and set a $335.00 price target on shares of Generac in a research report on Thursday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Generac has an average rating of “Moderate Buy” and a consensus target price of $290.55.
Generac Stock Performance
GNRC stock opened at $192.35 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 2.04. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 44.32, a PEG ratio of 1.65 and a beta of 1.91. Generac has a 1 year low of $134.80 and a 1 year high of $296.44. The stock’s fifty day moving average is $202.50 and its two-hundred day moving average is $227.12.
Generac (NYSE:GNRC – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the previous year, the company posted $1.65 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts predict that Generac will post 9.74 EPS for the current year.
Insider Activity at Generac
In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $194.89, for a total transaction of $974,450.00. Following the sale, the chief executive officer owned 554,528 shares of the company’s stock, valued at $108,071,961.92. The trade was a 0.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $212.57, for a total value of $128,179.71. Following the completion of the sale, the insider owned 9,966 shares of the company’s stock, valued at $2,118,472.62. This trade represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,442 shares of company stock worth $3,656,537 over the last quarter. 2.40% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of GNRC. N.E.W. Advisory Services LLC purchased a new position in Generac in the second quarter valued at about $25,000. Avalon Trust Co purchased a new stake in shares of Generac during the 1st quarter worth about $32,000. Essential Partners LLC raised its stake in shares of Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after purchasing an additional 61 shares in the last quarter. GHP Investment Advisors Inc. acquired a new stake in shares of Generac during the 1st quarter valued at about $36,000. Finally, Root Financial Partners LLC lifted its holdings in shares of Generac by 32.9% during the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock valued at $43,000 after buying an additional 54 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.
About Generac
Generac Holdings Inc is an energy technology company that designs and manufactures power generation equipment, energy storage systems and other products intended to provide backup and distributed energy solutions. Its offerings serve residential, commercial, industrial and other users seeking standby power, portable power or greater control over energy use.
The company’s product portfolio includes home standby generators, portable generators, commercial and industrial generators, mobile power equipment, engines and related transfer switches and controls.
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