Generac (NYSE:GNRC) was upgraded by stock analysts at SunTrust Banks from a “hold” rating to a “buy” rating in a report released on Wednesday, MarketBeat Ratings reports.
Other equities research analysts have also issued research reports about the stock. BidaskClub raised shares of Generac from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. Bank of America set a $56.00 price target on shares of Generac and gave the stock a “buy” rating in a report on Monday, October 23rd. ValuEngine lowered shares of Generac from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research raised shares of Generac from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Wednesday, January 10th. Finally, Canaccord Genuity raised their price target on shares of Generac from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $51.98.
Shares of Generac (NYSE:GNRC) traded up $1.55 during trading on Wednesday, reaching $46.58. 1,425,466 shares of the company’s stock were exchanged, compared to its average volume of 514,870. The company has a market cap of $2,983.23, a price-to-earnings ratio of 24.52, a PEG ratio of 1.53 and a beta of 1.64. Generac has a 1-year low of $33.77 and a 1-year high of $53.78. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.01 and a current ratio of 1.77.
In other news, CEO Aaron Jagdfeld sold 20,000 shares of Generac stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $49.03, for a total transaction of $980,600.00. Following the sale, the chief executive officer now owns 990,411 shares of the company’s stock, valued at approximately $48,559,851.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in shares of Generac by 26,222.2% during the 3rd quarter. IFP Advisors Inc now owns 2,369 shares of the technology company’s stock valued at $109,000 after purchasing an additional 2,360 shares in the last quarter. Macquarie Group Ltd. bought a new stake in shares of Generac during the 3rd quarter valued at about $175,000. Financial Gravity Companies Inc. bought a new stake in shares of Generac during the 4th quarter valued at about $190,000. C M Bidwell & Associates Ltd. bought a new stake in shares of Generac during the 4th quarter valued at about $193,000. Finally, Rothschild Investment Corp IL bought a new stake in shares of Generac during the 4th quarter valued at about $203,000. 96.23% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: “Generac (GNRC) Upgraded by SunTrust Banks to Buy” was originally published by American Banking News and is the property of of American Banking News. If you are reading this news story on another site, it was stolen and republished in violation of US and international copyright & trademark laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2018/02/14/generac-gnrc-upgraded-by-suntrust-banks-to-buy.html.
Generac 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.
Receive News & Ratings for Generac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Generac and related companies with MarketBeat.com's FREE daily email newsletter.