BidaskClub Upgrades Generac Holdlings Inc. (GNRC) to Buy
Generac Holdlings Inc. (NYSE:GNRC) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Friday.
GNRC has been the topic of a number of other research reports. ValuEngine lowered shares of Generac Holdlings from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Wolfe Research initiated coverage on shares of Generac Holdlings in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. Zacks Investment Research lowered shares of Generac Holdlings from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Stifel Nicolaus reiterated a “hold” rating and issued a $41.00 price objective on shares of Generac Holdlings in a research note on Thursday, August 3rd. Finally, Bank of America Corporation upgraded shares of Generac Holdlings from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $34.00 to $45.00 in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $43.50.
Shares of Generac Holdlings (NYSE GNRC) traded up 0.14% during midday trading on Friday, hitting $42.91. 458,136 shares of the stock were exchanged. The firm’s 50-day moving average is $37.91 and its 200-day moving average is $36.92. Generac Holdlings has a 12 month low of $33.77 and a 12 month high of $44.84. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 25.63 and a beta of 1.39.
Generac Holdlings (NYSE:GNRC) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.05. The firm had revenue of $395.40 million for the quarter, compared to analyst estimates of $383.14 million. Generac Holdlings had a net margin of 7.00% and a return on equity of 46.60%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Equities research analysts predict that Generac Holdlings will post $2.95 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 shares were sold at an average price of $35.68, for a total transaction of $178,400.00. Following the sale, the chief executive officer now owns 1,044,911 shares in the company, valued at $37,282,424.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 15,000 shares of company stock worth $563,100. 3.00% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP grew its position in Generac Holdlings by 16.1% during the second quarter. First Trust Advisors LP now owns 186,597 shares of the technology company’s stock valued at $6,742,000 after buying an additional 25,814 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Generac Holdlings during the first quarter valued at $768,000. BlackRock Inc. grew its position in Generac Holdlings by 13,069.4% during the first quarter. BlackRock Inc. now owns 4,157,858 shares of the technology company’s stock valued at $155,006,000 after buying an additional 4,126,286 shares during the period. Vivaldi Capital Management LLC acquired a new stake in Generac Holdlings during the first quarter valued at $8,819,218,000. Finally, Bank of America Corp DE grew its position in Generac Holdlings by 2.2% during the first quarter. Bank of America Corp DE now owns 221,177 shares of the technology company’s stock valued at $8,245,000 after buying an additional 4,685 shares during the period. Institutional investors own 96.64% of the company’s stock.
About Generac Holdlings
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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