Generac (NYSE:GNRC) Reaches New 1-Year High on Analyst Upgrade

Generac Holdings Inc. (NYSE:GNRC)’s share price reached a new 52-week high during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $160.00 to $178.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Generac traded as high as $176.14 and last traded at $171.91, with a volume of 80968 shares changing hands. The stock had previously closed at $174.21.

A number of other analysts have also recently commented on the company. Stephens restated an “overweight” rating and issued a $200.00 price objective on shares of Generac in a research report on Monday, August 5th. Wells Fargo & Company boosted their price target on Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Truist Financial boosted their price target on Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday. Canaccord Genuity Group boosted their price target on Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their price target on Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $158.43.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total value of $794,650.00. Following the transaction, the chief executive officer now owns 562,177 shares of the company’s stock, valued at $89,346,790.61. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Generac

Several hedge funds have recently bought and sold shares of GNRC. EntryPoint Capital LLC lifted its stake in Generac by 73.2% during the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after acquiring an additional 90 shares in the last quarter. Sunbelt Securities Inc. raised its position in Generac by 97.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. Capital Advisors Ltd. LLC raised its position in Generac by 611.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock valued at $34,000 after purchasing an additional 220 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new stake in Generac in the 2nd quarter valued at about $38,000. Finally, ORG Partners LLC acquired a new stake in Generac in the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Down 3.3 %

The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 46.39, a price-to-earnings-growth ratio of 2.22 and a beta of 1.38. The business has a 50-day simple moving average of $153.45 and a 200-day simple moving average of $145.60.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. The company had revenue of $998.20 million for the quarter, compared to analyst estimates of $1 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. Generac’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the company earned $1.08 EPS. On average, equities analysts anticipate that Generac Holdings Inc. will post 6.47 earnings per share for the current fiscal year.

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.