Generac (NYSE:GNRC) Trading 7.2% Higher Following Earnings Beat

Shares of Generac Holdings Inc. (NYSE:GNRC) shot up 7.2% on Wednesday following a better than expected earnings announcement. The stock traded as high as $152.31 and last traded at $152.00. 756,609 shares traded hands during mid-day trading, a decline of 1% from the average session volume of 766,264 shares. The stock had previously closed at $141.74.

The technology company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.49 by $0.31. Generac had a return on equity of 16.70% and a net margin of 7.17%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GNRC. JPMorgan Chase & Co. upped their price target on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. TD Cowen upped their price target on Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Roth Mkm upped their price target on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Citigroup dropped their price target on Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Truist Financial dropped their price target on Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Generac currently has an average rating of “Moderate Buy” and a consensus price target of $173.55.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total transaction of $725,750.00. Following the completion of the sale, the chief executive officer now owns 565,825 shares in the company, valued at $82,129,498.75. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Generac

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Modus Advisors LLC acquired a new position in Generac in the fourth quarter valued at about $27,000. Cranbrook Wealth Management LLC acquired a new position in Generac in the fourth quarter valued at about $28,000. Versant Capital Management Inc grew its stake in Generac by 391.9% in the fourth quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock valued at $28,000 after acquiring an additional 145 shares during the period. Brooklyn Investment Group acquired a new position in Generac in the third quarter valued at about $31,000. Finally, SouthState Corp acquired a new position in Generac in the third quarter valued at about $32,000. Institutional investors own 84.04% of the company’s stock.

Generac Trading Up 6.5 %

The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The stock has a market capitalization of $8.98 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 1.44 and a beta of 1.42. The business has a 50 day simple moving average of $159.13 and a 200-day simple moving average of $160.88.

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.