Generac (NYSE:GNRC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Generac (NYSE:GNRC) from a buy rating to a strong-buy rating in a report published on Monday morning,Wall Street Zen reports.

A number of other research analysts have also issued reports on GNRC. DA Davidson set a $333.00 price objective on Generac in a research report on Thursday, July 30th. JPMorgan Chase & Co. increased their target price on Generac from $261.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, September 18th. Robert W. Baird set a $287.00 target price on Generac in a research report on Thursday, October 29th. Wells Fargo & Company set a $280.00 target price on Generac in a research note on Thursday, September 17th. Finally, KeyCorp reissued an “overweight” rating on shares of Generac in a report on Monday, October 26th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and an average price target of $290.41.

Generac Price Performance

Shares of NYSE:GNRC opened at $189.16 on Monday. The company has a market cap of $11.16 billion, a PE ratio of 37.46, a P/E/G ratio of 1.78 and a beta of 1.86. Generac has a fifty-two week low of $134.80 and a fifty-two week high of $296.44. The firm has a 50-day simple moving average of $198.94 and a 200 day simple moving average of $218.09. The company has a quick ratio of 1.06, a current ratio of 1.97 and a debt-to-equity ratio of 0.41.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, October 28th. The technology company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.14. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. Generac had a return on equity of 18.78% and a net margin of 6.52%. Generac’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.83 earnings per share. On average, sell-side analysts anticipate that Generac will post 9.80 EPS for the current year.

Insider Activity

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $206.00, for a total transaction of $1,030,000.00. Following the completion of the transaction, the chief executive officer directly owned 544,528 shares in the company, valued at approximately $112,172,768. The trade was a 0.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of the stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $212.57, for a total value of $128,179.71. Following the completion of the transaction, the insider directly owned 9,966 shares of the company’s stock, valued at $2,118,472.62. This trade represents a 5.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 12,892 shares of company stock valued at $2,561,730. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Generac

A number of hedge funds and other institutional investors have recently modified their holdings of GNRC. N.E.W. Advisory Services LLC bought a new stake in shares of Generac in the 2nd quarter worth approximately $25,000. Avalon Trust Co acquired a new stake in Generac during the first quarter valued at approximately $32,000. Essential Partners LLC boosted its holdings in Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after buying an additional 61 shares in the last quarter. Root Financial Partners LLC boosted its holdings in Generac by 32.9% during the first quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock worth $43,000 after buying an additional 54 shares in the last quarter. Finally, Fiduciary Financial Advisors acquired a new position in Generac in the second quarter worth approximately $50,000. 84.04% of the stock is currently owned by institutional investors.

About Generac

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.