Generac Holdlings Inc. (GNRC) Cut to “Hold” at BidaskClub
Generac Holdlings Inc. (NYSE:GNRC) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.
Several other brokerages have also recently weighed in on GNRC. Bank of America Corporation raised shares of Generac Holdlings from a “neutral” rating to a “buy” rating and raised their target price for the company from $45.00 to $50.00 in a report on Friday, September 15th. KeyCorp reaffirmed a “hold” rating on shares of Generac Holdlings in a report on Sunday, September 10th. Canaccord Genuity reaffirmed 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, September 8th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $41.00 target price on shares of Generac Holdlings in a report on Thursday, August 3rd. Finally, ValuEngine raised shares of Generac Holdlings from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Generac Holdlings presently has a consensus rating of “Buy” and a consensus price target of $49.86.
Shares of Generac Holdlings (NYSE:GNRC) traded up 2.55% on Friday, hitting $50.61. 452,429 shares of the stock were exchanged. The company’s 50 day moving average is $46.46 and its 200-day moving average is $38.80. Generac Holdlings has a 52-week low of $33.77 and a 52-week high of $51.19. The stock has a market cap of $3.15 billion, a PE ratio of 30.23 and a beta of 1.41.
Generac Holdlings (NYSE:GNRC) last issued 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 firm had revenue of $395.40 million for the quarter, compared to analysts’ expectations 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 was up 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 earnings per share. Analysts predict that Generac Holdlings will post $3.01 EPS for the current fiscal year.
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In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders have sold 15,000 shares of company stock worth $619,400. Insiders own 3.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in shares of 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 acquiring an additional 1,116 shares during the last quarter. Invictus RG grew its position in shares of 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 acquiring an additional 3,519 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of 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 purchasing an additional 2,327 shares during the period. Karp Capital Management Corp acquired a new stake in shares of Generac Holdlings during the first quarter worth $219,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of 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 purchasing an additional 565 shares during the period. Institutional investors and hedge funds own 96.59% 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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