Generac Holdings Inc. (GNRC) Lifted to Hold at Zacks Investment Research
According to Zacks, “Generac Holdings Inc. is a manufacturer of backup power generation products serving residential, light commercial and industrial markets. The Company designs, engineers, manufactures, and markets a range of automatic, stationary standby, and portable generators. Generac’s power systems range in output from 800 watts to 9 megawatts and are available through a broad network of independent and industrial dealers, retailers and wholesalers. The Company offers generators fueled by natural gas, liquid propane, gasoline, diesel, and Bi-Fuel. It also provides air-cooled engines. In addition, Generac designs, manufactures, sources and modifies engines, alternators, automatic transfer switches and other components necessary for its products. The Company’s generators are fueled by natural gas, liquid propane, gasoline, diesel and Bi-Fuel (combined diesel and natural gas). Generac Holdings Inc. is headquartered in Waukesha, Wisconsin. “
Separately, Bank of America Corp. downgraded Generac Holdings from a buy rating to a neutral rating and set a $39.00 target price for the company. in a research report on Monday, August 1st. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, The stock currently has a consensus rating of Hold and an average price target of $36.00.
Shares of Generac Holdings (NYSE:GNRC) opened at 36.02 on Wednesday. Generac Holdings has a 12-month low of $26.29 and a 12-month high of $39.59. The stock’s 50 day moving average price is $36.06 and its 200 day moving average price is $36.57. The firm has a market cap of $2.37 billion, a PE ratio of 32.63 and a beta of 1.24.
Generac Holdings (NYSE:GNRC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.04. The business earned $367.40 million during the quarter, compared to the consensus estimate of $355.23 million. Generac Holdings had a return on equity of 42.86% and a net margin of 5.42%. The business’s revenue was up 27.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 earnings per share. On average, equities research analysts predict that Generac Holdings will post $2.82 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of GNRC. WFG Advisors LP boosted its position in Generac Holdings by 12.7% in the second quarter. WFG Advisors LP now owns 3,586 shares of the company’s stock valued at $125,000 after buying an additional 404 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Generac Holdings by 433.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,642 shares of the company’s stock valued at $127,000 after buying an additional 2,959 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in Generac Holdings by 108.8% in the third quarter. BNP Paribas Arbitrage SA now owns 5,584 shares of the company’s stock valued at $203,000 after buying an additional 2,910 shares in the last quarter. Raymond James & Associates bought a new position in Generac Holdings during the second quarter valued at about $204,000. Finally, Acrospire Investment Management LLC bought a new position in Generac Holdings during the first quarter valued at about $213,000.
About Generac Holdings
Generac Holdings Inc (Generac) is a designer and manufacturer of a range of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. The other engine powered products that the Company designs and manufactures include light towers, which provide temporary lighting for various end markets; commercial and industrial mobile heaters used in the oil and gas, construction and other industrial markets, and a product line of outdoor power equipment for residential and commercial use.
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