Generac Holdings Inc. (NYSE:GNRC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Generac Holdings Inc. (NYSE:GNRC) have been assigned an average rating of “Moderate Buy” from the eighteen research firms that are presently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $276.8824.

A number of research firms have commented on GNRC. Guggenheim restated a “neutral” rating and set a $202.00 price objective on shares of Generac in a research note on Tuesday, February 10th. Stephens restated an “overweight” rating and set a $290.00 price objective on shares of Generac in a research note on Thursday. Robert W. Baird set a $311.00 price objective on Generac in a research note on Thursday, April 30th. Canaccord Genuity Group raised their price objective on Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Argus raised their price objective on Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th.

Insider Activity

In other news, CFO York A. Ragen sold 24,362 shares of Generac stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the transaction, the chief financial officer owned 137,182 shares in the company, valued at approximately $32,321,451.02. This trade represents a 15.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Generac

Several hedge funds and other institutional investors have recently modified their holdings of GNRC. Invesco Ltd. increased its stake in shares of Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after purchasing an additional 806,430 shares during the last quarter. Diamant Asset Management Inc. increased its stake in shares of Generac by 19,433.0% in the 1st quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock valued at $130,104,000 after purchasing an additional 662,665 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Generac by 1,141.1% in the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock valued at $94,859,000 after purchasing an additional 639,551 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Generac by 127.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock valued at $130,825,000 after purchasing an additional 536,732 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Generac in the 4th quarter valued at $68,590,000. Institutional investors own 84.04% of the company’s stock.

Generac Price Performance

Generac stock opened at $270.50 on Friday. The stock’s fifty day moving average price is $222.78 and its two-hundred day moving average price is $189.22. Generac has a one year low of $118.09 and a one year high of $276.80. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The firm has a market cap of $15.92 billion, a PE ratio of 84.80, a price-to-earnings-growth ratio of 2.53 and a beta of 1.93.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company earned $1.26 EPS. The company’s revenue was up 12.5% on a year-over-year basis. As a group, research analysts expect that Generac will post 8.91 EPS for the current fiscal year.

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.