Generac (NYSE:GNRC) Stock Rating Upgraded by Zacks Research

Generac (NYSE:GNRC) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

GNRC has been the subject of several other research reports. Stephens reiterated an “overweight” rating and issued a $290.00 price objective on shares of Generac in a research note on Friday, May 1st. TD Cowen raised their price objective on shares of Generac from $255.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Wells Fargo & Company raised their price objective on shares of Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Citigroup raised their price objective on shares of Generac from $226.00 to $263.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Argus lifted their price objective on Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $270.31.

Generac Stock Down 0.2%

GNRC opened at $266.81 on Wednesday. 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 business has a 50 day simple moving average of $213.65 and a 200-day simple moving average of $183.31. The stock has a market capitalization of $15.69 billion, a P/E ratio of 83.64, a P/E/G ratio of 2.50 and a beta of 1.93. Generac has a 12 month low of $117.22 and a 12 month high of $269.58.

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

Insider Transactions at Generac

In other Generac news, CFO York A. Ragen sold 24,362 shares of Generac stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 137,182 shares in the company, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Generac

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GNRC. Invesco Ltd. raised its position in Generac by 49.9% during the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after acquiring an additional 806,430 shares during the last quarter. Diamant Asset Management Inc. raised its holdings in shares of Generac by 19,433.0% in the first quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock worth $130,104,000 after acquiring an additional 662,665 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Generac by 1,141.1% in the fourth quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after acquiring an additional 639,551 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Generac by 127.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock worth $130,825,000 after acquiring an additional 536,732 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Generac in the fourth quarter worth $68,590,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

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.