Generac (GNRC) Upgraded to “Hold” by ValuEngine
ValuEngine upgraded shares of Generac (NYSE:GNRC) from a sell rating to a hold rating in a research report sent to investors on Friday morning.
A number of other equities analysts also recently weighed in on the stock. Robert W. Baird raised their target price on shares of Generac from $58.00 to $60.00 and gave the company a neutral rating in a research note on Friday, November 2nd. Goldman Sachs Group raised shares of Generac from a sell rating to a neutral rating in a research note on Thursday, October 18th. KeyCorp raised their target price on shares of Generac from $60.00 to $62.00 and gave the company an overweight rating in a research note on Thursday, September 13th. Canaccord Genuity raised their target price on shares of Generac from $58.00 to $62.00 and gave the company a hold rating in a research note on Tuesday, September 11th. Finally, Zacks Investment Research raised shares of Generac from a hold rating to a buy rating and set a $62.00 target price for the company in a research note on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $56.98.
Shares of NYSE GNRC opened at $56.19 on Friday. Generac has a fifty-two week low of $42.96 and a fifty-two week high of $60.70. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 1.88 and a beta of 1.35. The company has a quick ratio of 0.98, a current ratio of 1.88 and a debt-to-equity ratio of 1.23.
In related news, CEO Aaron Jagdfeld sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $54.70, for a total transaction of $1,094,000.00. Following the completion of the sale, the chief executive officer now owns 843,971 shares of the company’s stock, valued at $46,165,213.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick John Forsythe sold 45,150 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $57.05, for a total transaction of $2,575,807.50. Following the sale, the executive vice president now directly owns 25,835 shares of the company’s stock, valued at approximately $1,473,886.75. The disclosure for this sale can be found here. Insiders have sold 105,150 shares of company stock valued at $5,819,808 in the last three months. 3.00% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new stake in Generac in the third quarter worth approximately $100,000. Salem Investment Counselors Inc. purchased a new stake in Generac in the third quarter worth approximately $169,000. Advisory Services Network LLC purchased a new stake in Generac in the third quarter worth approximately $179,000. Glenmede Trust Co. NA boosted its holdings in Generac by 505.0% in the third quarter. Glenmede Trust Co. NA now owns 4,235 shares of the technology company’s stock worth $238,000 after purchasing an additional 3,535 shares during the last quarter. Finally, Strs Ohio boosted its holdings in Generac by 30.0% in the second quarter. Strs Ohio now owns 5,200 shares of the technology company’s stock worth $268,000 after purchasing an additional 1,200 shares during the last quarter. Institutional investors own 93.62% of the company’s stock.
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other engine powered products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.
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