KeyCorp Reaffirms Hold Rating for Generac Holdlings Inc. (GNRC)
Generac Holdlings Inc. (NYSE:GNRC)‘s stock had its “hold” rating reiterated by research analysts at KeyCorp in a research note issued to investors on Sunday.
Other analysts have also issued research reports about the company. ValuEngine raised Generac Holdlings from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. BidaskClub raised Generac Holdlings from a “hold” rating to a “buy” rating in a report on Friday. Canaccord Genuity reissued a “hold” rating and issued a $42.00 target price (up previously from $40.00) on shares of Generac Holdlings in a report on Friday. Zacks Investment Research raised Generac Holdlings from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $41.00 target price on shares of Generac Holdlings in a report on Thursday, August 3rd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Generac Holdlings currently has a consensus rating of “Hold” and an average target price of $43.83.
Shares of Generac Holdlings (NYSE GNRC) traded down 2.45% on Friday, hitting $41.80. The stock had a trading volume of 1,751,132 shares. The company has a 50 day moving average of $38.05 and a 200-day moving average of $36.95. Generac Holdlings has a 12-month low of $33.77 and a 12-month high of $44.84. The firm has a market capitalization of $2.60 billion, a P/E ratio of 25.03 and a beta of 1.39.
Generac Holdlings (NYSE:GNRC) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.05. The company had revenue of $395.40 million for the quarter, compared to analyst estimates of $383.14 million. Generac Holdlings had a return on equity of 46.60% and a net margin of 7.00%. Generac Holdlings’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities analysts predict that Generac Holdlings will post $2.95 EPS for the current fiscal year.
In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’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 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 15,000 shares of company stock worth $563,100 over the last 90 days. Company insiders own 3.00% of the company’s stock.
Several large investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in Generac Holdlings by 51.8% during the first quarter. Victory Capital Management Inc. now owns 3,269 shares of the technology company’s stock worth $122,000 after buying an additional 1,116 shares during the period. Invictus RG lifted its position in Generac Holdlings by 940.9% during the first quarter. Invictus RG now owns 3,893 shares of the technology company’s stock worth $145,000 after buying an additional 3,519 shares during the period. Envestnet Asset Management Inc. lifted its position in Generac Holdlings by 93.6% during the first quarter. Envestnet Asset Management Inc. now owns 4,813 shares of the technology company’s stock worth $179,000 after buying an additional 2,327 shares during the period. Public Employees Retirement System of Ohio lifted its position in Generac Holdlings by 10.6% during the second quarter. Public Employees Retirement System of Ohio now owns 5,873 shares of the technology company’s stock worth $212,000 after buying an additional 565 shares during the period. Finally, Karp Capital Management Corp purchased a new position in Generac Holdlings during the first quarter worth about $219,000. Institutional investors and hedge funds 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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