Generac Holdlings Inc. (NYSE:GNRC) Upgraded at Zacks Investment Research
Generac Holdlings Inc. (NYSE:GNRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
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. “
A number of other research firms also recently commented on GNRC. Stifel Nicolaus reiterated a “hold” rating and set a $41.00 target price on shares of Generac Holdlings in a research report on Thursday. ValuEngine upgraded Generac Holdlings from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. BidaskClub upgraded Generac Holdlings from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Wolfe Research assumed coverage on Generac Holdlings in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. Finally, Canaccord Genuity reiterated a “hold” rating and set a $40.00 target price on shares of Generac Holdlings in a research report on Friday, April 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $41.83.
Shares of Generac Holdlings (NYSE:GNRC) traded up 0.34% during midday trading on Monday, hitting $38.35. 516,070 shares of the stock were exchanged. The firm’s 50-day moving average is $36.09 and its 200 day moving average is $37.20. The firm has a market cap of $2.71 billion, a PE ratio of 22.91 and a beta of 1.40. Generac Holdlings has a 52-week low of $33.77 and a 52-week high of $44.84.
Generac Holdlings (NYSE:GNRC) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $395.40 million during the quarter, compared to the consensus estimate of $383.14 million. Generac Holdlings had a return on equity of 47.06% and a net margin of 7.00%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. On average, analysts forecast that Generac Holdlings will post $2.94 earnings per share for the current year.
In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $35.68, for a total value of $178,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,044,911 shares in the company, valued at $37,282,424.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.00% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of Generac Holdlings by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,847 shares of the technology company’s stock worth $139,000 after buying an additional 578 shares in the last quarter. Federated Investors Inc. PA increased its stake in shares of Generac Holdlings by 18.7% in the second quarter. Federated Investors Inc. PA now owns 81,565 shares of the technology company’s stock worth $2,947,000 after buying an additional 12,861 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Generac Holdlings during the second quarter worth about $4,857,000. KDI Capital Partners LLC bought a new stake in shares of Generac Holdlings during the second quarter worth about $1,270,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Generac Holdlings by 698.3% in the second quarter. BNP Paribas Arbitrage SA now owns 10,138 shares of the technology company’s stock worth $366,000 after buying an additional 8,868 shares in the last quarter. Institutional investors own 98.64% of the company’s stock.
Generac Holdlings Company Profile
Generac Holdings Inc (Generac) is a designer and manufacturer of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business.
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