Zacks Investment Research Upgrades Generac Holdings Inc. (GNRC) to “Hold”
Generac Holdings Inc. (NYSE:GNRC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Generac Holdings Inc. is a manufacturer of backup power generation products serving residential, light commercial and industrial markets. The Company designs, engineers, manufactures, and markets a range of automatic, stationary standby, and portable generators. Generac’s power systems range in output from 800 watts to 9 megawatts and are available through a broad network of independent and industrial dealers, retailers and wholesalers. The Company offers generators fueled by natural gas, liquid propane, gasoline, diesel, and Bi-Fuel. It also provides air-cooled engines. In addition, Generac designs, manufactures, sources and modifies engines, alternators, automatic transfer switches and other components necessary for its products. The Company’s generators are fueled by natural gas, liquid propane, gasoline, diesel and Bi-Fuel (combined diesel and natural gas). Generac Holdings Inc. is headquartered in Waukesha, Wisconsin. “
Separately, Bank of America Corp. lowered shares of Generac Holdings from a “buy” rating to a “neutral” rating and set a $39.00 target price for the company. in a research report on Monday, August 1st. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average price target of $36.00.
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Shares of Generac Holdings (NYSE:GNRC) traded down 5.13% during mid-day trading on Wednesday, hitting $36.21. The stock had a trading volume of 1,033,633 shares. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 32.80 and a beta of 1.24. The stock’s 50-day moving average is $36.08 and its 200 day moving average is $36.59. Generac Holdings has a 1-year low of $26.29 and a 1-year high of $39.59.
Generac Holdings (NYSE:GNRC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.04. The firm earned $367.40 million during the quarter, compared to analyst estimates of $355.23 million. Generac Holdings had a net margin of 5.42% and a return on equity of 42.86%. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 EPS. Equities research analysts predict that Generac Holdings will post $2.82 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. WFG Advisors LP raised its stake in Generac Holdings by 12.7% in the second quarter. WFG Advisors LP now owns 3,586 shares of the company’s stock valued at $125,000 after buying an additional 404 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Generac Holdings by 433.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,642 shares of the company’s stock valued at $127,000 after buying an additional 2,959 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Generac Holdings by 108.8% in the third quarter. BNP Paribas Arbitrage SA now owns 5,584 shares of the company’s stock valued at $203,000 after buying an additional 2,910 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in Generac Holdings during the first quarter valued at about $213,000. Finally, Raymond James & Associates acquired a new stake in Generac Holdings during the second quarter valued at about $204,000.
Generac Holdings Company Profile
Generac Holdings Inc (Generac) is a designer and manufacturer of a range of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. The other engine powered products that the Company designs and manufactures include light towers, which provide temporary lighting for various end markets; commercial and industrial mobile heaters used in the oil and gas, construction and other industrial markets, and a product line of outdoor power equipment for residential and commercial use.
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