Generac Holdlings Inc. (GNRC) PT Set at $56.00 by Bank of America Corporation
Generac Holdlings Inc. (NYSE:GNRC) has been assigned a $56.00 target price by stock analysts at Bank of America Corporation in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the technology company’s stock. Bank of America Corporation’s target price would suggest a potential upside of 10.65% from the company’s current price.
Several other analysts have also issued reports on GNRC. BidaskClub upgraded Generac Holdlings from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. ValuEngine upgraded Generac Holdlings from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Zacks Investment Research lowered Generac Holdlings from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Wolfe Research started coverage on Generac Holdlings in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, Stifel Nicolaus restated a “hold” rating and issued a $41.00 target price on shares of Generac Holdlings in a research note on Thursday, August 3rd. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $50.71.
Shares of Generac Holdlings (NYSE GNRC) traded up 0.425% on Monday, reaching $50.825. The company’s stock had a trading volume of 353,256 shares. Generac Holdlings has a 52-week low of $33.77 and a 52-week high of $51.19. The firm’s 50 day moving average is $46.46 and its 200-day moving average is $38.80. The stock has a market cap of $3.16 billion, a P/E ratio of 30.361 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 (EPS) 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 analyst estimates of $383.14 million. Generac Holdlings had a return on equity of 46.60% and a net margin of 7.00%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. On average, equities research analysts forecast that Generac Holdlings will post $3.02 EPS for the current year.
In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac Holdlings 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 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 document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 15,000 shares of company stock valued at $619,400. 3.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors 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% in the first 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 in the last quarter. Invictus RG grew its position in shares of Generac Holdlings by 940.9% in the first 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 in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Generac Holdlings by 93.6% in the first 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 in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Generac Holdlings by 10.6% in the second 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 in the last quarter. Finally, Karp Capital Management Corp purchased a new position in shares of Generac Holdlings in the first quarter valued at $219,000. Institutional investors 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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