Generac (NYSE:GNRC) Issues Earnings Results

Generac (NYSE:GNRC) announced its earnings results on Wednesday. The technology company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.15, RTT News reports. Generac had a return on equity of 14.68% and a net margin of 5.68%. The company had revenue of $998.20 million during the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the firm earned $1.08 earnings per share. The company’s revenue was down .2% on a year-over-year basis. Generac updated its FY 2024 guidance to EPS.

Generac Stock Performance

GNRC opened at $155.66 on Thursday. The company has a quick ratio of 0.97, a current ratio of 2.29 and a debt-to-equity ratio of 0.61. The firm has a market cap of $9.43 billion, a PE ratio of 42.88, a P/E/G ratio of 2.10 and a beta of 1.37. The business has a fifty day simple moving average of $145.00 and a 200-day simple moving average of $131.97. Generac has a fifty-two week low of $79.86 and a fifty-two week high of $169.57.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GNRC. Guggenheim lowered Generac from a “neutral” rating to a “sell” rating and set a $120.00 target price on the stock. in a research report on Thursday, May 30th. Scotiabank boosted their target price on shares of Generac from $147.00 to $160.00 and gave the stock a “sector perform” rating in a research report on Monday. Truist Financial upped their target price on shares of Generac from $160.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Canaccord Genuity Group lifted their price target on Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, TD Cowen upped their price objective on Generac from $144.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $146.21.

Insider Transactions at Generac

In related news, Director Nam Tran Nguyen sold 546 shares of Generac stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $140.55, for a total value of $76,740.30. Following the transaction, the director now owns 3,512 shares of the company’s stock, valued at approximately $493,611.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Patrick John Forsythe sold 65,855 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nam Tran Nguyen sold 546 shares of Generac stock in a transaction on Monday, May 13th. The shares were sold at an average price of $140.55, for a total value of $76,740.30. Following the transaction, the director now owns 3,512 shares in the company, valued at approximately $493,611.60. The disclosure for this sale can be found here. Insiders have sold 75,785 shares of company stock valued at $11,020,661 over the last three months. Company insiders own 2.80% 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.