Generac (NYSE:GNRC) Issues Earnings Results, Beats Expectations By $0.27 EPS

Generac (NYSE:GNRC) issued its quarterly earnings results on Thursday. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.27, Briefing.com reports. Generac had a return on equity of 15.35% and a net margin of 6.03%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company posted $1.64 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. Generac updated its FY 2024 guidance to EPS.

Generac Trading Up 2.0 %

Shares of Generac stock traded up $3.36 during trading on Friday, hitting $168.91. 1,045,144 shares of the company were exchanged, compared to its average volume of 951,695. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99. The firm has a market capitalization of $10.16 billion, a P/E ratio of 43.79, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The firm’s fifty day moving average price is $156.93 and its 200 day moving average price is $147.89. Generac has a 1-year low of $98.27 and a 1-year high of $176.14.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Wells Fargo & Company raised their target price on Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Stifel Nicolaus reissued a “buy” rating and set a $175.00 price target (up from $145.00) on shares of Generac in a report on Thursday, August 1st. TD Cowen upped their price objective on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Citigroup lifted their target price on shares of Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $169.10.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total transaction of $794,650.00. Following the transaction, the chief executive officer now directly owns 562,177 shares of the company’s stock, valued at $89,346,790.61. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

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.