Generac (NYSE:GNRC) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Generac (NYSE:GNRC) from a hold rating to a buy rating in a research note published on Thursday.

Other research analysts have also recently issued research reports about the company. Piper Sandler increased their price target on Generac from $150.00 to $175.00 and gave the stock an overweight rating in a research note on Monday, July 22nd. Wells Fargo & Company boosted their price target on shares of Generac from $139.00 to $156.00 and gave the stock an equal weight rating in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Generac from $149.00 to $155.00 and gave the company a neutral rating in a report on Tuesday, July 16th. Truist Financial boosted their target price on Generac from $160.00 to $170.00 and gave the stock a buy rating in a report on Thursday, May 23rd. Finally, Janney Montgomery Scott lowered Generac from a buy rating to a neutral rating and increased their price target for the company from $126.00 to $154.00 in a research note on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $153.52.

Generac Price Performance

GNRC opened at $142.87 on Thursday. The company has a quick ratio of 0.97, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $144.91 and its 200 day moving average price is $132.44. Generac has a fifty-two week low of $79.86 and a fifty-two week high of $169.57. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 39.36, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. Generac had a return on equity of 15.35% and a net margin of 6.03%. The firm had revenue of $998.20 million during the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the business earned $1.08 EPS. The firm’s revenue was down .2% on a year-over-year basis. As a group, sell-side analysts expect that Generac will post 6.3 earnings per share for the current year.

Insider Buying and Selling at Generac

In other news, insider Patrick John Forsythe sold 65,855 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the completion of the sale, the insider now owns 19,815 shares in the company, valued at $2,889,027. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Generac news, insider Patrick John Forsythe sold 65,855 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the transaction, the insider now owns 19,815 shares in the company, valued at $2,889,027. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $133.39, for a total transaction of $666,950.00. Following the transaction, the chief executive officer now directly owns 577,177 shares in the company, valued at approximately $76,989,640.03. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,785 shares of company stock worth $11,020,661. 2.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Generac

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GNRC. ICA Group Wealth Management LLC bought a new position in shares of Generac in the 4th quarter valued at about $27,000. EntryPoint Capital LLC grew its holdings in Generac by 73.2% during the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after purchasing an additional 90 shares during the period. Capital Advisors Ltd. LLC increased its position in Generac by 611.1% during the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after buying an additional 220 shares during the last quarter. ORG Partners LLC bought a new stake in Generac in the fourth quarter valued at approximately $38,000. Finally, Quarry LP lifted its position in shares of Generac by 219.6% in the fourth quarter. Quarry LP now owns 294 shares of the technology company’s stock valued at $38,000 after buying an additional 202 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.