Generac (NYSE:GNRC) Upgraded at Baird R W

Baird R W upgraded shares of Generac (NYSE:GNRC) from a hold rating to a strong-buy rating in a research report sent to investors on Friday morning,Zacks.com reports.

GNRC has been the subject of a number of other research reports. Robert W. Baird upgraded Generac from a “neutral” rating to an “outperform” rating and decreased their price objective for the stock from $215.00 to $199.00 in a report on Friday. Zacks Research raised shares of Generac from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 3rd. Guggenheim decreased their price target on shares of Generac from $210.00 to $202.00 and set a “buy” rating for the company in a research note on Thursday, October 9th. JPMorgan Chase & Co. raised shares of Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price objective on the stock in a research note on Monday, December 8th. Finally, UBS Group decreased their target price on shares of Generac from $220.00 to $215.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $198.44.

Generac Price Performance

GNRC stock opened at $152.87 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.18 and a quick ratio of 1.02. Generac has a 1 year low of $99.50 and a 1 year high of $203.25. The firm has a 50-day moving average of $150.07 and a 200 day moving average of $166.28. The company has a market cap of $8.97 billion, a P/E ratio of 29.12, a PEG ratio of 1.25 and a beta of 1.82.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, October 29th. The technology company reported $1.83 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.42). Generac had a net margin of 6.92% and a return on equity of 17.63%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm posted $2.25 earnings per share. The business’s revenue was down 5.0% compared to the same quarter last year. On average, sell-side analysts forecast that Generac will post 8 EPS for the current year.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $166.43, for a total transaction of $832,150.00. Following the transaction, the chief executive officer owned 542,966 shares in the company, valued at approximately $90,365,831.38. This represents a 0.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC lifted its stake in shares of Generac by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock worth $309,000 after purchasing an additional 142 shares during the period. Woodline Partners LP increased its holdings in Generac by 40.9% during the first quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock valued at $638,000 after buying an additional 1,463 shares during the last quarter. Integrity Alliance LLC. bought a new position in Generac in the first quarter worth approximately $299,000. Acadian Asset Management LLC raised its position in Generac by 37.3% in the first quarter. Acadian Asset Management LLC now owns 10,429 shares of the technology company’s stock worth $1,320,000 after acquiring an additional 2,834 shares during the period. Finally, Strs Ohio purchased a new position in shares of Generac during the 1st quarter worth $992,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.