Generac (NYSE:GNRC) Hits New 52-Week High – What’s Next?

Generac Holdings Inc. (NYSE:GNRC) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $296.00 and last traded at $293.1860, with a volume of 205683 shares. The stock had previously closed at $279.15.

Wall Street Analyst Weigh In

GNRC has been the subject of a number of analyst reports. Raymond James Financial set a $302.00 target price on Generac in a research note on Friday, May 22nd. Barclays upped their price objective on Generac from $213.00 to $228.00 and gave the stock an “equal weight” rating in a report on Friday, March 27th. Roth Mkm reissued a “neutral” rating and issued a $257.00 target price on shares of Generac in a report on Thursday, April 30th. Wall Street Zen upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Canaccord Genuity Group upped their price target on shares of Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $278.65.

Generac Price Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The firm has a market capitalization of $17.27 billion, a PE ratio of 91.84, a P/E/G ratio of 2.61 and a beta of 1.93. The company has a 50-day moving average price of $251.44 and a 200-day moving average price of $206.26.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.26 EPS. Sell-side analysts forecast that Generac Holdings Inc. will post 8.91 EPS for the current year.

Insider Buying and Selling

In related news, insider Norman P. Taffe sold 550 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $272.26, for a total transaction of $149,743.00. Following the sale, the insider owned 16,108 shares in the company, valued at approximately $4,385,564.08. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the sale, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. The trade was a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Generac

Several large investors have recently added to or reduced their stakes in GNRC. Nicollet Investment Management Inc. grew its stake in shares of Generac by 0.7% during the 4th quarter. Nicollet Investment Management Inc. now owns 7,734 shares of the technology company’s stock valued at $1,055,000 after buying an additional 50 shares during the period. Gen Wealth Partners Inc raised its position in shares of Generac by 8.7% in the 4th quarter. Gen Wealth Partners Inc now owns 675 shares of the technology company’s stock worth $92,000 after buying an additional 54 shares during the period. Root Financial Partners LLC boosted its holdings in Generac by 32.9% in the first quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock valued at $43,000 after acquiring an additional 54 shares during the last quarter. Meridian Financial Partners LLC grew its position in Generac by 0.6% during the fourth quarter. Meridian Financial Partners LLC now owns 10,056 shares of the technology company’s stock valued at $1,371,000 after acquiring an additional 61 shares during the period. Finally, Essential Partners LLC grew its position in Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after acquiring an additional 61 shares during the period. 84.04% of the stock is currently 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.