Generac (NYSE:GNRC) Sets New 1-Year High – Here’s Why

Shares of Generac Holdings Inc. (NYSE:GNRC) reached a new 52-week high during trading on Wednesday . The stock traded as high as $211.25 and last traded at $199.9210, with a volume of 893209 shares. The stock had previously closed at $182.30.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GNRC. Robert W. Baird raised shares of Generac from a “neutral” rating to an “outperform” rating and reduced their target price for the company from $215.00 to $199.00 in a report on Friday, January 9th. Canaccord Genuity Group reduced their price objective on Generac from $240.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, January 13th. Bank of America decreased their price objective on Generac from $236.00 to $224.00 and set a “buy” rating on the stock in a report on Wednesday, January 7th. Barclays dropped their target price on Generac from $197.00 to $186.00 and set an “equal weight” rating for the company in a report on Tuesday, January 20th. Finally, Roth Mkm set a $184.00 price target on Generac and gave the stock a “neutral” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $195.29.

Generac Trading Up 17.5%

The company has a debt-to-equity ratio of 0.51, a current ratio of 2.18 and a quick ratio of 1.02. The firm’s 50 day moving average price is $158.09 and its 200 day moving average price is $169.41. The stock has a market capitalization of $12.57 billion, a P/E ratio of 40.65, a P/E/G ratio of 1.50 and a beta of 1.85.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.20). The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a return on equity of 17.63% and a net margin of 6.92%.The firm’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.80 earnings per share. As a group, equities research analysts expect that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Generac

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its stake in Generac by 2.1% in the second quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock worth $313,619,000 after acquiring an additional 45,592 shares during the period. Victory Capital Management Inc. raised its holdings in Generac by 17.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock worth $355,530,000 after purchasing an additional 324,809 shares in the last quarter. Invesco Ltd. raised its holdings in Generac by 40.9% in the 2nd quarter. Invesco Ltd. now owns 1,992,447 shares of the technology company’s stock worth $285,338,000 after purchasing an additional 577,933 shares in the last quarter. Boston Partners lifted its position in shares of Generac by 7.1% in the 3rd quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock worth $326,003,000 after purchasing an additional 128,439 shares during the period. Finally, Ariel Investments LLC boosted its stake in shares of Generac by 11.7% during the 2nd quarter. Ariel Investments LLC now owns 1,804,595 shares of the technology company’s stock valued at $258,436,000 after purchasing an additional 188,717 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

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.