Generac Holdlings Inc. (GNRC) Posts Earnings Results, Beats Expectations By $0.04 EPS
Generac Holdlings Inc. (NYSE:GNRC) posted its quarterly earnings data on Wednesday. The technology company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.04, Bloomberg Earnings reports. The company had revenue of $457.25 million for the quarter, compared to analyst estimates of $420.42 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 22.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 earnings per share.
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In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $40.44, for a total transaction of $202,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,039,911 shares in the company, valued at $42,054,000.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.00% of the stock is owned by insiders.
A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Generac Holdlings from a “buy” rating to a “hold” rating in a research note on Tuesday. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Generac Holdlings in a research note on Wednesday. BidaskClub upgraded shares of Generac Holdlings from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Canaccord Genuity lifted their price objective on shares of Generac Holdlings from $42.00 to $50.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Finally, Bank of America Corporation set a $56.00 price objective on shares of Generac Holdlings and gave the company a “buy” rating in a research note on Monday, October 23rd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $51.86.
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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