Generac (NYSE:GNRC) Upgraded at StockNews.com

StockNews.com upgraded shares of Generac (NYSE:GNRC) from a hold rating to a buy rating in a report issued on Friday morning.

GNRC has been the subject of a number of other reports. Guggenheim lowered Generac from a neutral rating to a sell rating and set a $120.00 price objective for the company. in a report on Thursday, May 30th. TD Cowen increased their price objective on Generac from $144.00 to $172.00 and gave the stock a buy rating in a report on Thursday, August 1st. Wells Fargo & Company increased their price objective on Generac from $139.00 to $156.00 and gave the stock an equal weight rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on Generac from $149.00 to $155.00 and gave the stock a neutral rating in a report on Tuesday, July 16th. Finally, Northland Securities increased their price objective on Generac from $160.00 to $180.00 and gave the stock an outperform rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average price target of $154.71.

Generac Stock Down 0.8 %

Shares of Generac stock opened at $141.76 on Friday. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61. The business’s 50 day simple moving average is $149.26 and its 200-day simple moving average is $139.92. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of 39.05, a PEG ratio of 1.83 and a beta of 1.38. Generac has a twelve month low of $79.86 and a twelve month high of $169.57.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. The business had revenue of $998.20 million for the quarter, compared to analysts’ expectations of $1 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.08 EPS. Equities research analysts forecast that Generac will post 6.52 earnings per share for the current year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction 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 completion of the sale, the chief executive officer now owns 577,177 shares of the company’s stock, valued at $76,989,640.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.80% of the company’s stock.

Institutional Trading of Generac

A number of institutional investors and hedge funds have recently made changes to their positions in GNRC. Dimensional Fund Advisors LP lifted its position in shares of Generac by 23.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 610,100 shares of the technology company’s stock worth $78,854,000 after buying an additional 115,728 shares during the last quarter. Norges Bank acquired a new stake in shares of Generac in the fourth quarter worth about $67,253,000. Gladstone Institutional Advisory LLC lifted its position in shares of Generac by 28.1% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 2,783 shares of the technology company’s stock worth $360,000 after buying an additional 611 shares during the last quarter. Corient Private Wealth LLC lifted its position in shares of Generac by 2.0% in the fourth quarter. Corient Private Wealth LLC now owns 29,002 shares of the technology company’s stock worth $3,748,000 after buying an additional 558 shares during the last quarter. Finally, Trexquant Investment LP lifted its position in shares of Generac by 204.5% in the fourth quarter. Trexquant Investment LP now owns 21,761 shares of the technology company’s stock worth $2,812,000 after buying an additional 14,615 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

About Generac

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.