Generac (NYSE:GNRC) Sets New 12-Month High – Here’s What Happened

Shares of Generac Holdings Inc. (NYSE:GNRC) reached a new 52-week high during trading on Tuesday . The company traded as high as $278.48 and last traded at $278.48, with a volume of 128669 shares trading hands. The stock had previously closed at $270.14.

Wall Street Analysts Forecast Growth

GNRC has been the subject of a number of analyst reports. Stephens restated an “overweight” rating and issued a $290.00 price objective on shares of Generac in a research report on Thursday, May 21st. Zacks Research upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 6th. Jefferies Financial Group upgraded shares of Generac from a “hold” rating to a “buy” rating and lifted their target price for the company from $239.00 to $302.00 in a research report on Friday. TD Cowen lifted their target price on shares of Generac from $255.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Generac in a research report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $276.88.

Generac Trading Up 2.0%

The firm has a market capitalization of $16.23 billion, a P/E ratio of 86.40, a price-to-earnings-growth ratio of 2.53 and a beta of 1.93. 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’s 50-day simple moving average is $224.11 and its 200-day simple moving average is $190.20.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.33 by $0.47. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. Analysts anticipate that Generac Holdings Inc. will post 8.91 EPS for the current year.

Insider Activity at Generac

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Nicollet Investment Management Inc. raised its stake in shares of Generac by 0.7% during the fourth quarter. Nicollet Investment Management Inc. now owns 7,734 shares of the technology company’s stock worth $1,055,000 after acquiring an additional 50 shares in the last quarter. Root Financial Partners LLC raised its stake in shares of Generac by 32.9% during the first quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock worth $43,000 after acquiring an additional 54 shares in the last quarter. Gen Wealth Partners Inc raised its stake in shares of Generac by 8.7% during the fourth quarter. Gen Wealth Partners Inc now owns 675 shares of the technology company’s stock worth $92,000 after acquiring an additional 54 shares in the last quarter. Meridian Financial Partners LLC raised its stake in shares of Generac by 0.6% during the fourth quarter. Meridian Financial Partners LLC now owns 10,056 shares of the technology company’s stock worth $1,371,000 after acquiring an additional 61 shares in the last quarter. Finally, Essential Partners LLC raised its stake in shares of Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after acquiring an additional 61 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

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.