Generac (NYSE:GNRC) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Generac (NYSE:GNRC) from a hold rating to a buy rating in a research note issued to investors on Thursday.

Several other analysts have also recently weighed in on GNRC. Stifel Nicolaus reissued a buy rating and issued a $175.00 price objective (up previously from $145.00) on shares of Generac in a research note on Thursday. Canaccord Genuity Group upped their price objective on shares of Generac from $140.00 to $150.00 and gave the stock a buy rating in a research report on Friday, April 5th. JPMorgan Chase & Co. lifted their price target on shares of Generac from $149.00 to $155.00 and gave the stock a neutral rating in a report on Tuesday, July 16th. Northland Securities raised their price target on Generac from $160.00 to $180.00 and gave the stock an outperform rating in a report on Thursday. Finally, Canaccord Genuity Group lifted their price target on Generac from $177.00 to $200.00 and gave the company a buy rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Generac has an average rating of Hold and a consensus price target of $153.52.

Generac Price Performance

GNRC stock opened at $139.55 on Thursday. The company’s 50-day moving average price is $145.02 and its two-hundred day moving average price is $132.07. The firm has a market cap of $8.46 billion, a P/E ratio of 40.08, a P/E/G ratio of 2.11 and a beta of 1.37. The company has a quick ratio of 0.97, a current ratio of 2.29 and a debt-to-equity ratio of 0.61. Generac has a 12 month low of $79.86 and a 12 month high of $169.57.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, beating the consensus estimate of $1.20 by $0.15. The business had revenue of $998.20 million during the quarter, compared to the consensus estimate of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.38%. The company’s revenue was down .2% on a year-over-year basis. During the same period in the previous year, the business earned $1.08 earnings per share. On average, analysts anticipate that Generac will post 6.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Generac news, Director Nam Tran Nguyen sold 546 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $140.55, for a total value of $76,740.30. Following the sale, the director now directly owns 3,512 shares of the company’s stock, valued at $493,611.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Generac news, Director Nam Tran Nguyen sold 546 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $140.55, for a total transaction of $76,740.30. Following the completion of the sale, the director now directly owns 3,512 shares in the company, valued at approximately $493,611.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $133.39, for a total transaction of $666,950.00. Following the sale, the chief executive officer now directly owns 577,177 shares of the company’s stock, valued at $76,989,640.03. The disclosure for this sale can be found here. Insiders sold 75,785 shares of company stock worth $11,020,661 over the last three months. Company insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Generac

Several institutional investors and hedge funds have recently modified their holdings of the stock. Duncker Streett & Co. Inc. grew its stake in shares of Generac by 2.4% during the second quarter. Duncker Streett & Co. Inc. now owns 2,932 shares of the technology company’s stock valued at $388,000 after buying an additional 68 shares during the last quarter. Empirical Finance LLC increased its stake in Generac by 4.5% during the 1st quarter. Empirical Finance LLC now owns 1,748 shares of the technology company’s stock valued at $220,000 after purchasing an additional 75 shares in the last quarter. Peregrine Asset Advisers Inc. boosted its position in Generac by 1.6% in the fourth quarter. Peregrine Asset Advisers Inc. now owns 5,600 shares of the technology company’s stock valued at $724,000 after buying an additional 90 shares during the last quarter. EntryPoint Capital LLC grew its position in Generac by 73.2% during the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after purchasing an additional 90 shares during the period. Finally, American International Group Inc. increased its holdings in shares of Generac by 0.6% during the 4th quarter. American International Group Inc. now owns 16,550 shares of the technology company’s stock valued at $2,139,000 after purchasing an additional 93 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

About Generac

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.