Analysts Offer Predictions for Generac Holdings Inc.’s Q3 2024 Earnings (NYSE:GNRC)

Generac Holdings Inc. (NYSE:GNRC) – Equities researchers at William Blair lowered their Q3 2024 earnings estimates for shares of Generac in a research note issued on Wednesday, July 31st. William Blair analyst B. Drab now anticipates that the technology company will earn $1.89 per share for the quarter, down from their prior forecast of $1.92. The consensus estimate for Generac’s current full-year earnings is $6.30 per share. William Blair also issued estimates for Generac’s Q4 2024 earnings at $2.30 EPS, FY2024 earnings at $6.43 EPS and FY2025 earnings at $7.84 EPS.

A number of other research analysts have also recently issued reports on the stock. StockNews.com raised shares of Generac from a “hold” rating to a “buy” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Generac from $149.00 to $155.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Stifel Nicolaus reissued a “buy” rating and issued a $175.00 price objective (up from $145.00) on shares of Generac in a report on Thursday. Oppenheimer lowered Generac from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 22nd. Finally, Guggenheim lowered shares of Generac from a “neutral” rating to a “sell” rating and set a $120.00 price target for the company. in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $153.52.

Generac Stock Performance

Shares of Generac stock opened at $142.87 on Friday. The company has a 50 day moving average price of $144.91 and a 200 day moving average price of $132.20. The firm has a market capitalization of $8.66 billion, a P/E ratio of 39.36, a PEG ratio of 1.93 and a beta of 1.37. The company has a quick ratio of 0.97, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. Generac has a 52 week low of $79.86 and a 52 week high of $169.57.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.15. The firm had revenue of $998.20 million during the quarter, compared to the consensus estimate of $1 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GNRC. Stevens Capital Management LP acquired a new position in shares of Generac in the 4th quarter valued at $916,000. Duality Advisers LP acquired a new stake in shares of Generac during the fourth quarter valued at about $964,000. Versor Investments LP acquired a new stake in shares of Generac during the fourth quarter valued at about $452,000. Ninety One UK Ltd raised its stake in shares of Generac by 13.4% in the 4th quarter. Ninety One UK Ltd now owns 476,897 shares of the technology company’s stock valued at $61,634,000 after acquiring an additional 56,169 shares during the period. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Generac by 91.7% in the 4th quarter. Teacher Retirement System of Texas now owns 9,183 shares of the technology company’s stock worth $1,187,000 after acquiring an additional 4,393 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 577,177 shares of the company’s stock, valued at $76,989,640.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Patrick John Forsythe sold 65,855 shares of Generac stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the transaction, the insider now owns 19,815 shares in the company, valued at $2,889,027. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $133.39, for a total value of $666,950.00. Following the completion of the sale, the chief executive officer now 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 have sold 75,785 shares of company stock valued at $11,020,661 over the last ninety days. Insiders own 2.80% of the company’s stock.

Generac Company Profile

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.