Generac (NYSE:GNRC) Raised to “Buy” at StockNews.com

Generac (NYSE:GNRC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Other research analysts also recently issued research reports about the company. Canaccord Genuity Group increased their target price on Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Canaccord Genuity Group lifted their target price on Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Janney Montgomery Scott downgraded Generac from a “buy” rating to a “neutral” rating and lifted their target price for the company from $126.00 to $154.00 in a research note on Thursday, June 13th. OTR Global raised Generac from a “mixed” rating to a “positive” rating in a research note on Tuesday, April 2nd. Finally, Truist Financial lifted their price target on Generac from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $141.67.

Generac Price Performance

GNRC stock opened at $134.66 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.29. Generac has a 1 year low of $79.86 and a 1 year high of $156.95. The firm has a market cap of $8.16 billion, a P/E ratio of 37.10, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44. The stock has a 50-day simple moving average of $140.16 and a 200-day simple moving average of $127.96.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. Generac had a return on equity of 14.68% and a net margin of 5.68%. The business had revenue of $889.27 million during the quarter, compared to analyst estimates of $886.60 million. During the same quarter last year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts predict that Generac will post 6.15 earnings per share for the current fiscal year.

Insider Transactions at Generac

In other news, insider Patrick John Forsythe sold 65,855 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 19,815 shares in the company, valued at approximately $2,889,027. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Patrick John Forsythe sold 65,855 shares of the 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 completion of the sale, the insider now owns 19,815 shares in the company, valued at approximately $2,889,027. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $139.95, for a total value of $699,750.00. Following the sale, the chief executive officer now owns 587,177 shares of the company’s stock, valued at approximately $82,175,421.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,785 shares of company stock worth $11,688,161. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Generac

Several large investors have recently added to or reduced their stakes in the company. Empirical Finance LLC raised its holdings in Generac by 4.5% in the 1st quarter. Empirical Finance LLC now owns 1,748 shares of the technology company’s stock valued at $220,000 after acquiring an additional 75 shares in the last quarter. Peregrine Asset Advisers Inc. boosted its position in Generac by 1.6% in the 4th 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 boosted its position in Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after buying an additional 90 shares during the last quarter. American International Group Inc. boosted its position in shares of Generac by 0.6% in the 4th quarter. American International Group Inc. now owns 16,550 shares of the technology company’s stock worth $2,139,000 after purchasing an additional 93 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of Generac by 2.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,427 shares of the technology company’s stock worth $558,000 after purchasing an additional 94 shares during the last quarter. Institutional investors and hedge funds own 84.04% 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.