Generac (NYSE:GNRC) Raised to Strong-Buy at Wall Street Zen

Generac (NYSE:GNRC) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Monday, Wall Street Zen reports.

Several other equities research analysts also recently issued reports on the stock. Weiss Ratings raised shares of Generac from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Raymond James Financial set a $279.00 price objective on shares of Generac in a research report on Thursday, October 29th. Stifel Nicolaus raised their target price on Generac from $290.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. DA Davidson set a $333.00 target price on Generac in a research note on Thursday, July 30th. Finally, Barclays lifted their target price on Generac from $278.00 to $281.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $290.41.

Generac Trading Up 3.6%

GNRC opened at $209.37 on Monday. The firm’s 50 day moving average is $199.20 and its 200-day moving average is $217.96. Generac has a 52-week low of $134.80 and a 52-week high of $296.44. The company has a quick ratio of 1.06, a current ratio of 1.97 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $12.36 billion, a P/E ratio of 22.80, a P/E/G ratio of 1.72 and a beta of 1.86.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, October 28th. The technology company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.14. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.32 billion. Generac had a net margin of 6.52% and a return on equity of 18.78%. The business’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.83 earnings per share. Analysts expect that Generac will post 9.80 EPS for the current fiscal year.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $206.00, for a total transaction of $1,030,000.00. Following the transaction, the chief executive officer directly owned 544,528 shares in the company, valued at $112,172,768. This represents a 0.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of the stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $212.57, for a total transaction of $128,179.71. Following the transaction, the insider owned 9,966 shares in the company, valued at $2,118,472.62. This trade represents a 5.71% 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. Over the last quarter, insiders sold 12,892 shares of company stock worth $2,561,730. Insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Generac

Hedge funds and other institutional investors have recently modified their holdings of the stock. Callan Family Office LLC acquired a new stake in Generac in the second quarter worth $3,033,000. Tidal Investments LLC boosted its holdings in shares of Generac by 94.3% during the second quarter. Tidal Investments LLC now owns 55,302 shares of the technology company’s stock valued at $16,193,000 after acquiring an additional 26,836 shares during the period. Maverick Capital Ltd. acquired a new position in shares of Generac during the first quarter valued at $1,267,000. Procyon Advisors LLC boosted its holdings in shares of Generac by 18.6% during the first quarter. Procyon Advisors LLC now owns 32,883 shares of the technology company’s stock valued at $6,423,000 after acquiring an additional 5,147 shares during the period. Finally, Edgestream Partners L.P. bought a new position in shares of Generac during the first quarter worth about $2,535,000. Institutional investors own 84.04% of the company’s stock.

About Generac

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.