Generac Holdings Inc. (NYSE:GNRC) Short Interest Up 6.6% in September

Generac Holdings Inc. (NYSE:GNRC) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 2,760,000 shares, a growth of 6.6% from the September 15th total of 2,590,000 shares. Based on an average daily volume of 898,800 shares, the days-to-cover ratio is currently 3.1 days. Currently, 4.7% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Piper Sandler raised their price objective on Generac from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday. Robert W. Baird raised their price target on Generac from $142.00 to $163.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. The Goldman Sachs Group raised their price objective on Generac from $129.00 to $148.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stephens reissued an “overweight” rating and issued a $200.00 price objective on shares of Generac in a research note on Monday, August 5th. Finally, Canaccord Genuity Group raised their price objective on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $158.43.

Insider Activity at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the completion of the sale, the chief executive officer now directly owns 562,177 shares in the company, valued at approximately $89,346,790.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Generac

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Optimum Investment Advisors acquired a new position in Generac in the third quarter valued at about $99,000. Cornerstone Wealth Management LLC acquired a new position in Generac in the third quarter valued at about $227,000. Rheos Capital Works Inc. acquired a new position in Generac in the third quarter valued at about $4,766,000. LaFleur & Godfrey LLC boosted its position in Generac by 43.3% in the third quarter. LaFleur & Godfrey LLC now owns 62,150 shares of the technology company’s stock valued at $9,874,000 after buying an additional 18,785 shares in the last quarter. Finally, Hunter Perkins Capital Management LLC boosted its position in Generac by 3.7% in the third quarter. Hunter Perkins Capital Management LLC now owns 5,330 shares of the technology company’s stock valued at $847,000 after buying an additional 190 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Price Performance

Shares of Generac stock opened at $168.39 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25. The firm’s 50-day simple moving average is $153.45 and its 200-day simple moving average is $145.60. Generac has a twelve month low of $79.86 and a twelve month high of $176.14. The firm has a market cap of $10.21 billion, a P/E ratio of 46.39, a price-to-earnings-growth ratio of 2.22 and a beta of 1.38.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.15. Generac had a net margin of 6.03% and a return on equity of 15.35%. The business had revenue of $998.20 million for the quarter, compared to analyst estimates of $1 billion. During the same period in the previous year, the business earned $1.08 EPS. The firm’s revenue was down .2% on a year-over-year basis. As a group, research analysts expect that Generac will post 6.47 EPS for the current fiscal year.

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.