Generac (NYSE:GNRC) Upgraded to Strong-Buy at Baird R W

Baird R W upgraded shares of Generac (NYSE:GNRC) from a hold rating to a strong-buy rating in a research report released on Friday,Zacks.com reports.

A number of other research analysts have also issued reports on GNRC. Bank of America lowered their target price on shares of Generac from $236.00 to $224.00 and set a “buy” rating on the stock in a research note on Wednesday. Wells Fargo & Company set a $195.00 price target on Generac in a research report on Friday, December 19th. Canaccord Genuity Group reiterated a “buy” rating and issued a $240.00 price objective on shares of Generac in a research note on Thursday, October 30th. Zacks Research raised Generac from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. Finally, Needham & Company LLC began coverage on Generac in a report on Wednesday, October 22nd. They issued a “buy” rating and a $248.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $198.44.

Generac Stock Up 2.7%

GNRC opened at $152.87 on Friday. The firm has a market cap of $8.97 billion, a P/E ratio of 29.12, a price-to-earnings-growth ratio of 1.21 and a beta of 1.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 2.18. The business has a 50 day moving average price of $150.07 and a 200 day moving average price of $165.88. Generac has a twelve month low of $99.50 and a twelve month high of $203.25.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, October 29th. The technology company reported $1.83 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.42). Generac had a net margin of 6.92% and a return on equity of 17.63%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business earned $2.25 EPS. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. Research analysts forecast that Generac will post 8 EPS for the current year.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $166.43, for a total value of $832,150.00. Following the completion of the transaction, the chief executive officer owned 542,966 shares of the company’s stock, valued at $90,365,831.38. This represents a 0.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.70% of the stock is currently owned by company insiders.

Institutional Trading of Generac

A number of institutional investors and hedge funds have recently modified their holdings of the company. Scott & Selber Inc. boosted its stake in Generac by 14.1% during the fourth quarter. Scott & Selber Inc. now owns 25,393 shares of the technology company’s stock worth $3,463,000 after buying an additional 3,136 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Generac by 125.5% during the 4th quarter. SG Americas Securities LLC now owns 39,843 shares of the technology company’s stock worth $5,433,000 after acquiring an additional 22,178 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Generac by 2,675.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 39,916 shares of the technology company’s stock valued at $5,443,000 after acquiring an additional 38,478 shares in the last quarter. Ulland Investment Advisors LLC boosted its position in shares of Generac by 261.4% during the 4th quarter. Ulland Investment Advisors LLC now owns 2,750 shares of the technology company’s stock valued at $375,000 after acquiring an additional 1,989 shares in the last quarter. Finally, Pine Haven Investment Counsel Inc increased its stake in Generac by 14.5% in the fourth quarter. Pine Haven Investment Counsel Inc now owns 3,321 shares of the technology company’s stock valued at $453,000 after acquiring an additional 420 shares during the period. 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.