Generac (NYSE:GNRC) Insider Norman Taffe Sells 550 Shares

Generac Holdings Inc. (NYSE:GNRC) insider Norman Taffe sold 550 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total transaction of $120,356.50. Following the transaction, the insider owned 15,508 shares in the company, valued at approximately $3,393,615.64. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Generac Price Performance

Shares of GNRC stock opened at $211.21 on Friday. Generac Holdings Inc. has a 52-week low of $134.80 and a 52-week high of $296.44. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.00 and a current ratio of 2.04. The stock has a market cap of $12.46 billion, a PE ratio of 48.67, a PEG ratio of 1.88 and a beta of 1.92. The firm’s 50 day moving average price is $245.49 and its two-hundred day moving average price is $226.32.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.90. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%.The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.65 earnings per share. As a group, analysts forecast that Generac Holdings Inc. will post 9.63 EPS for the current year.

Hedge Funds Weigh In On Generac

A number of institutional investors and hedge funds have recently bought and sold shares of GNRC. N.E.W. Advisory Services LLC acquired a new stake in shares of Generac during the second quarter valued at about $25,000. MUFG Securities EMEA plc bought a new position in Generac in the 2nd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd bought a new position in Generac in the 3rd quarter valued at approximately $26,000. Avalon Trust Co acquired a new stake in Generac during the 1st quarter worth approximately $32,000. Finally, Essential Partners LLC boosted its position in Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after buying an additional 61 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on GNRC shares. Zacks Research upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a report on Friday, July 31st. Roth Capital set a $214.00 target price on Generac in a report on Thursday, July 30th. Jefferies Financial Group reiterated a “buy” rating on shares of Generac in a report on Wednesday, June 3rd. Citigroup lifted their target price on shares of Generac from $263.00 to $300.00 and gave the stock a “neutral” rating in a report on Thursday, July 2nd. Finally, Cantor Fitzgerald boosted their price target on Generac from $325.00 to $333.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Generac presently has an average rating of “Moderate Buy” and an average target price of $284.84.

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.