Generac (NYSE:GNRC) Downgraded to “Positive” at OTR Global

OTR Global lowered shares of Generac (NYSE:GNRC) to a positive rating in a research note released on Friday, The Fly reports.

Several other equities analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Generac from a hold rating to a strong sell rating and set a $300.00 price target for the company. in a report on Wednesday, December 22nd. Truist Securities initiated coverage on shares of Generac in a research note on Friday, October 15th. They set a buy rating and a $500.00 price target for the company. Truist assumed coverage on shares of Generac in a research note on Friday, October 15th. They set a buy rating and a $500.00 price target for the company. KeyCorp decreased their price objective on shares of Generac from $540.00 to $500.00 and set an overweight rating for the company in a report on Friday, December 17th. Finally, Bank of America upgraded shares of Generac from a neutral rating to a buy rating and set a $475.00 price target for the company in a report on Thursday, December 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Buy and an average target price of $459.10.

Shares of GNRC opened at $306.28 on Friday. The company has a market capitalization of $19.32 billion, a PE ratio of 37.17, a price-to-earnings-growth ratio of 1.99 and a beta of 0.96. Generac has a one year low of $243.21 and a one year high of $524.31. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.89 and a quick ratio of 0.97. The company’s fifty day moving average price is $377.29 and its 200 day moving average price is $414.25.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Tuesday, November 2nd. The technology company reported $2.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.04). Generac had a return on equity of 37.32% and a net margin of 15.52%. The company had revenue of $942.70 million during the quarter, compared to analyst estimates of $961.13 million. During the same quarter in the prior year, the business earned $2.08 earnings per share. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. Analysts anticipate that Generac will post 9.53 earnings per share for the current year.

In related news, CFO York A. Ragen sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, November 11th. The stock was sold at an average price of $442.63, for a total transaction of $4,426,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, November 1st. The stock was sold at an average price of $496.95, for a total value of $2,484,750.00. The disclosure for this sale can be found here. Insiders have sold 20,000 shares of company stock valued at $9,025,450 in the last three months. 2.80% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in GNRC. Price T Rowe Associates Inc. MD boosted its position in Generac by 76.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,596,727 shares of the technology company’s stock worth $1,078,031,000 after purchasing an additional 1,124,492 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Generac by 133.6% in the third quarter. Allianz Asset Management GmbH now owns 636,291 shares of the technology company’s stock worth $260,033,000 after purchasing an additional 363,940 shares during the last quarter. Amundi purchased a new position in Generac in the second quarter worth about $130,133,000. BlackRock Inc. boosted its position in Generac by 5.4% in the third quarter. BlackRock Inc. now owns 5,073,314 shares of the technology company’s stock worth $2,073,311,000 after purchasing an additional 260,162 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Generac by 76.3% in the second quarter. Morgan Stanley now owns 461,422 shares of the technology company’s stock worth $191,558,000 after buying an additional 199,644 shares during the period. 86.50% of the stock is currently owned by institutional investors.

About Generac

Generac Holdings, Inc engages in the design and manufacture of power generation equipment and other power products. It operates through the following segments: Domestic and International. The Domestic segment includes the legacy Generac, and the impact of acquisitions that are based in the United States.

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