Roth Capital Predicts Generac’s FY2024 Earnings (NYSE:GNRC)

Generac Holdings Inc. (NYSE:GNRC) – Roth Capital boosted their FY2024 earnings per share estimates for Generac in a research note issued on Friday, November 1st. Roth Capital analyst C. Moore now expects that the technology company will earn $6.90 per share for the year, up from their previous estimate of $6.65. The consensus estimate for Generac’s current full-year earnings is $6.67 per share. Roth Capital also issued estimates for Generac’s Q4 2024 earnings at $2.44 EPS, Q1 2025 earnings at $1.53 EPS, Q2 2025 earnings at $1.82 EPS, Q3 2025 earnings at $2.58 EPS, Q4 2025 earnings at $2.59 EPS and FY2025 earnings at $8.52 EPS.

GNRC has been the topic of several other reports. JPMorgan Chase & Co. lifted their price target on shares of Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Citigroup upped their target price on Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen lifted their price target on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Roth Mkm increased their price objective on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Canaccord Genuity Group lifted their target price on shares of Generac from $177.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $169.10.

Generac Price Performance

Generac stock opened at $181.80 on Monday. The company has a fifty day simple moving average of $157.94 and a 200-day simple moving average of $149.02. The stock has a market cap of $10.94 billion, a P/E ratio of 37.72, a price-to-earnings-growth ratio of 2.11 and a beta of 1.37. Generac has a 12-month low of $100.23 and a 12-month high of $182.31. 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 issued its quarterly earnings results 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. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 earnings per share.

Institutional Trading of Generac

A number of institutional investors and hedge funds have recently modified their holdings of GNRC. DAVENPORT & Co LLC grew its position in Generac by 831.1% during the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after buying an additional 214,322 shares in the last quarter. Willis Investment Counsel grew its holdings in shares of Generac by 18.7% during the 3rd quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock worth $16,684,000 after purchasing an additional 16,541 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Generac by 85.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock worth $928,000 after purchasing an additional 3,244 shares in the last quarter. Epoch Investment Partners Inc. bought a new stake in shares of Generac during the first quarter valued at approximately $1,053,000. Finally, Nwam LLC lifted its position in Generac by 135.8% in the first quarter. Nwam LLC now owns 5,629 shares of the technology company’s stock worth $768,000 after purchasing an additional 3,242 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $166.60, for a total transaction of $833,000.00. Following the completion of the sale, the chief executive officer now directly owns 557,177 shares of the company’s stock, valued at $92,825,688.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.90% 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.