StockNews.com Lowers Generac (NYSE:GNRC) to Hold

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

A number of other analysts have also commented on GNRC. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $149.00 target price on shares of Generac in a report on Thursday, May 23rd. Canaccord Genuity Group lifted their target price on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Roth Mkm lifted their target price on shares of Generac from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. Oppenheimer lowered shares of Generac from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 22nd. Finally, OTR Global raised shares of Generac from a “mixed” rating to a “positive” rating in a report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $141.67.

Generac Stock Performance

Shares of Generac stock opened at $138.03 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.29 and a quick ratio of 0.97. The firm has a market cap of $8.37 billion, a P/E ratio of 38.02, a P/E/G ratio of 1.86 and a beta of 1.37. The firm has a 50 day simple moving average of $140.16 and a 200 day simple moving average of $128.38. Generac has a fifty-two week low of $79.86 and a fifty-two week high of $156.95.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. Generac had a net margin of 5.68% and a return on equity of 14.68%. 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 business posted $0.63 earnings per share. Generac’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts predict that Generac will post 6.15 earnings per share for the current fiscal year.

Insider Activity at Generac

In related news, insider Patrick John Forsythe sold 65,855 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total value of $9,601,659.00. Following the sale, the insider now directly owns 19,815 shares of the company’s stock, valued at approximately $2,889,027. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac 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 sale, the chief executive officer now directly owns 577,177 shares in the company, valued at approximately $76,989,640.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Patrick John Forsythe sold 65,855 shares of Generac stock in a transaction on Thursday, May 23rd. The shares were 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 $2,889,027. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,785 shares of company stock valued at $11,720,411. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Generac

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GNRC. ICA Group Wealth Management LLC acquired a new stake in Generac in the 4th quarter valued at $27,000. EntryPoint Capital LLC increased its stake 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. BKM Wealth Management LLC acquired a new stake in Generac in the 4th quarter valued at $28,000. ORG Partners LLC acquired a new position in shares of Generac during the 4th quarter worth about $38,000. Finally, Quarry LP increased its stake in shares of Generac by 219.6% during the 4th quarter. Quarry LP now owns 294 shares of the technology company’s stock worth $38,000 after purchasing an additional 202 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

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.