Generac (NYSE:GNRC) Earns Overweight Rating from Stephens

Generac (NYSE:GNRC)‘s stock had its “overweight” rating restated by Stephens in a report issued on Thursday,Benzinga reports. They presently have a $290.00 target price on the technology company’s stock. Stephens’ target price would indicate a potential upside of 18.94% from the stock’s current price.

Several other equities research analysts have also commented on the stock. Zacks Research raised shares of Generac from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Stifel Nicolaus set a $275.00 price target on shares of Generac in a research report on Thursday, April 30th. Roth Mkm reaffirmed a “neutral” rating and set a $257.00 price target on shares of Generac in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their price target on shares of Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Jefferies Financial Group assumed coverage on shares of Generac in a research report on Friday, March 20th. They set a “hold” rating and a $222.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $270.31.

Generac Stock Performance

GNRC traded down $1.36 during midday trading on Thursday, hitting $243.83. 134,907 shares of the company traded hands, compared to its average volume of 1,044,690. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $14.35 billion, a PE ratio of 76.51, a price-to-earnings-growth ratio of 2.28 and a beta of 1.93. The company’s 50-day moving average is $220.87 and its 200 day moving average is $188.09. Generac has a 52 week low of $118.09 and a 52 week high of $276.80.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the business earned $1.26 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. On average, research analysts expect that Generac will post 8.91 EPS for the current year.

Insider Transactions at Generac

In related news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the completion of the sale, the chief financial officer directly owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. This represents a 15.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Generac

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GNRC. NewEdge Advisors LLC grew its holdings in Generac by 6.2% during the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock valued at $309,000 after buying an additional 142 shares in the last quarter. Woodline Partners LP grew its holdings in Generac by 40.9% during the 1st quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock valued at $638,000 after buying an additional 1,463 shares in the last quarter. First Trust Advisors LP grew its holdings in Generac by 27.6% during the 2nd quarter. First Trust Advisors LP now owns 101,298 shares of the technology company’s stock valued at $14,507,000 after buying an additional 21,908 shares in the last quarter. Cerity Partners LLC grew its holdings in Generac by 1.6% during the 2nd quarter. Cerity Partners LLC now owns 50,550 shares of the technology company’s stock valued at $7,239,000 after buying an additional 816 shares in the last quarter. Finally, California Public Employees Retirement System grew its holdings in Generac by 8.6% during the 2nd quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company’s stock valued at $14,929,000 after buying an additional 8,213 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Company Profile

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.