Generac Holdings Inc. (NYSE:GNRC) – Analysts at Northcoast Research lifted their Q3 2019 earnings per share estimates for shares of Generac in a research note issued to investors on Thursday, June 13th. Northcoast Research analyst T. Hayes now anticipates that the technology company will earn $1.40 per share for the quarter, up from their prior estimate of $1.30. Northcoast Research currently has a “Buy” rating and a $70.00 target price on the stock. Northcoast Research also issued estimates for Generac’s Q4 2019 earnings at $1.38 EPS, FY2019 earnings at $4.85 EPS, Q3 2020 earnings at $1.55 EPS, Q4 2020 earnings at $1.48 EPS and FY2020 earnings at $5.32 EPS.
Generac (NYSE:GNRC) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.14. Generac had a net margin of 11.84% and a return on equity of 41.59%. The business had revenue of $470.35 million during the quarter, compared to analysts’ expectations of $450.73 million. During the same period in the previous year, the company earned $0.74 EPS. The company’s revenue for the quarter was up 17.6% on a year-over-year basis.
Separately, Zacks Investment Research raised shares of Generac from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Friday, May 3rd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Generac has a consensus rating of “Hold” and a consensus target price of $60.43.
Shares of GNRC opened at $65.44 on Friday. Generac has a 1-year low of $45.43 and a 1-year high of $65.73. The firm has a market capitalization of $3.93 billion, a P/E ratio of 13.92, a P/E/G ratio of 2.09 and a beta of 1.10. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.06 and a quick ratio of 0.92.
In related news, CEO Aaron Jagdfeld sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $54.92, for a total value of $1,098,400.00. Following the completion of the sale, the chief executive officer now directly owns 699,943 shares of the company’s stock, valued at $38,440,869.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 60,000 shares of company stock valued at $3,255,600. 2.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Generac by 3.9% in the first quarter. BlackRock Inc. now owns 5,032,135 shares of the technology company’s stock valued at $257,796,000 after purchasing an additional 189,507 shares during the period. Dimensional Fund Advisors LP increased its stake in Generac by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,647,288 shares of the technology company’s stock valued at $81,870,000 after purchasing an additional 33,794 shares during the period. Janus Henderson Group PLC increased its stake in Generac by 1.7% in the first quarter. Janus Henderson Group PLC now owns 1,459,111 shares of the technology company’s stock valued at $74,750,000 after purchasing an additional 24,219 shares during the period. Investec Asset Management LTD increased its stake in Generac by 1.8% in the first quarter. Investec Asset Management LTD now owns 1,441,535 shares of the technology company’s stock valued at $73,850,000 after purchasing an additional 25,782 shares during the period. Finally, Loomis Sayles & Co. L P increased its stake in Generac by 5.4% in the first quarter. Loomis Sayles & Co. L P now owns 890,365 shares of the technology company’s stock valued at $45,613,000 after purchasing an additional 45,262 shares during the period. Institutional investors own 94.37% of the company’s stock.
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.
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