Generac (NYSE:GNRC) Stock Rating Upgraded by Zacks Research

Generac (NYSE:GNRC) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Guggenheim restated a “neutral” rating and set a $202.00 target price on shares of Generac in a research report on Tuesday, February 10th. Canaccord Genuity Group boosted their price target on shares of Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Robert W. Baird set a $311.00 price objective on shares of Generac in a report on Thursday, April 30th. Citigroup raised their price objective on Generac from $226.00 to $263.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Wells Fargo & Company lifted their target price on Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $270.31.

Generac Stock Down 0.2%

NYSE GNRC opened at $266.81 on Wednesday. The stock’s 50 day moving average is $213.65 and its 200 day moving average is $183.31. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. Generac has a 12 month low of $117.22 and a 12 month high of $269.58. The stock has a market cap of $15.69 billion, a PE ratio of 83.64, a P/E/G ratio of 2.50 and a beta of 1.93.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the firm posted $1.26 EPS. Research analysts predict that Generac will post 8.91 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO York A. Ragen sold 24,362 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the sale, the chief financial officer owned 137,182 shares of the company’s stock, valued at $32,321,451.02. This represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of Generac

Large investors have recently made changes to their positions in the business. Invesco Ltd. increased its holdings in shares of Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after buying an additional 806,430 shares during the last quarter. Diamant Asset Management Inc. grew its position in Generac by 19,433.0% in the first quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock worth $130,104,000 after acquiring an additional 662,665 shares in the last quarter. Bank of Montreal Can grew its position in Generac by 1,141.1% in the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after acquiring an additional 639,551 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Generac by 127.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock worth $130,825,000 after acquiring an additional 536,732 shares during the last quarter. Finally, Norges Bank purchased a new stake in Generac during the fourth quarter valued at approximately $68,590,000. 84.04% of the stock is currently owned by institutional investors.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.