Generac Holdings Inc. (NYSE:GNRC) Sees Significant Increase in Short Interest

Generac Holdings Inc. (NYSE:GNRC) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 2,970,000 shares, an increase of 23.8% from the October 31st total of 2,400,000 shares. Based on an average daily volume of 846,000 shares, the days-to-cover ratio is presently 3.5 days. Currently, 5.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GNRC shares. Citigroup upped their price objective on Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Robert W. Baird dropped their price objective on Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Roth Mkm lifted their price objective on Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Piper Sandler raised their price target on shares of Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.58.

Generac Trading Down 1.2 %

Generac stock opened at $188.20 on Monday. Generac has a 12-month low of $108.89 and a 12-month high of $195.94. The firm has a market capitalization of $11.20 billion, a price-to-earnings ratio of 39.05, a P/E/G ratio of 2.31 and a beta of 1.37. The firm has a 50 day moving average of $172.92 and a 200 day moving average of $155.42. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts predict that Generac will post 6.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the transaction, the executive vice president now directly owns 10,738 shares in the company, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO York A. Ragen sold 29,081 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the transaction, the chief financial officer now owns 135,613 shares in the company, valued at approximately $25,051,789.49. The trade was a 17.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,268 shares of company stock worth $7,584,853. 2.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Generac

Hedge funds have recently made changes to their positions in the business. Empirical Finance LLC lifted its holdings in Generac by 4.1% in the 3rd quarter. Empirical Finance LLC now owns 1,689 shares of the technology company’s stock worth $268,000 after purchasing an additional 66 shares in the last quarter. Duncker Streett & Co. Inc. boosted its position 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 worth $388,000 after acquiring an additional 68 shares during the last quarter. Johnson Investment Counsel Inc. grew its stake in Generac by 0.3% during the second quarter. Johnson Investment Counsel Inc. now owns 22,549 shares of the technology company’s stock valued at $2,981,000 after acquiring an additional 75 shares in the last quarter. Nicollet Investment Management Inc. increased its holdings in Generac by 1.1% in the 3rd quarter. Nicollet Investment Management Inc. now owns 7,866 shares of the technology company’s stock valued at $1,250,000 after acquiring an additional 82 shares during the last quarter. Finally, Mather Group LLC. lifted its stake in Generac by 6.5% in the 3rd quarter. Mather Group LLC. now owns 1,528 shares of the technology company’s stock worth $243,000 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.