Generac Holdlings Inc. (GNRC) Receives Hold Rating from Canaccord Genuity
Generac Holdlings Inc. (NYSE:GNRC)‘s stock had its “hold” rating reaffirmed by stock analysts at Canaccord Genuity in a report issued on Friday. They presently have a $42.00 target price on the technology company’s stock, up from their prior target price of $40.00. Canaccord Genuity’s target price suggests a potential upside of 0.48% from the company’s current price.
Other research analysts also recently issued reports about the stock. BidaskClub upgraded shares of Generac Holdlings from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Investment Research upgraded shares of Generac Holdlings from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Stifel Nicolaus reiterated a “hold” rating and issued a $41.00 price target on shares of Generac Holdlings in a research report on Thursday, August 3rd. Wolfe Research assumed coverage on shares of Generac Holdlings in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, ValuEngine upgraded shares of Generac Holdlings from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $43.83.
Generac Holdlings (GNRC) traded down 2.45% on Friday, reaching $41.80. 1,751,132 shares of the company were exchanged. The firm has a 50-day moving average of $38.05 and a 200 day moving average of $36.95. The firm has a market capitalization of $2.60 billion, a P/E ratio of 24.97 and a beta of 1.39. Generac Holdlings has a 12-month low of $33.77 and a 12-month high of $44.84.
Generac Holdlings (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.05. The company had revenue of $395.40 million for the quarter, compared to the consensus estimate of $383.14 million. Generac Holdlings had a net margin of 7.00% and a return on equity of 46.60%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 earnings per share. On average, equities analysts predict that Generac Holdlings will post $2.95 earnings per share for the current year.
In other 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 directly owns 1,044,911 shares in the company, valued at approximately $37,282,424.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 15,000 shares of company stock worth $563,100 over the last 90 days. Insiders own 3.00% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of Generac Holdlings by 51.8% during the 1st quarter. Victory Capital Management Inc. now owns 3,269 shares of the technology company’s stock valued at $122,000 after purchasing an additional 1,116 shares during the period. Invictus RG raised its position in shares of Generac Holdlings by 940.9% during the 1st quarter. Invictus RG now owns 3,893 shares of the technology company’s stock valued at $145,000 after purchasing an additional 3,519 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Generac Holdlings by 93.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,813 shares of the technology company’s stock valued at $179,000 after purchasing an additional 2,327 shares during the period. Karp Capital Management Corp bought a new stake in shares of Generac Holdlings during the 1st quarter valued at $219,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Generac Holdlings by 10.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,873 shares of the technology company’s stock valued at $212,000 after purchasing an additional 565 shares during the period. Hedge funds and other institutional investors own 96.64% 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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