Generac (NYSE:GNRC) Reaches New 12-Month High – Here’s Why

Generac Holdings Inc. (NYSE:GNRC)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $241.09 and last traded at $231.2150, with a volume of 170091 shares trading hands. The stock had previously closed at $235.17.

Analysts Set New Price Targets

A number of analysts have weighed in on GNRC shares. Guggenheim reiterated a “neutral” rating and issued a $202.00 target price on shares of Generac in a research note on Tuesday, February 10th. Wells Fargo & Company boosted their price objective on shares of Generac from $185.00 to $234.00 and gave the company an “overweight” rating in a research report on Thursday, February 12th. UBS Group reaffirmed a “buy” rating and set a $270.00 price target on shares of Generac in a research note on Friday, February 13th. Canaccord Genuity Group set a $275.00 price objective on Generac in a research note on Thursday, February 12th. Finally, Zacks Research upgraded Generac from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Generac presently has an average rating of “Moderate Buy” and an average target price of $220.19.

Generac Stock Performance

The firm has a fifty day moving average price of $170.92 and a 200 day moving average price of $172.26. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.03. The stock has a market cap of $13.84 billion, a PE ratio of 87.88, a price-to-earnings-growth ratio of 1.66 and a beta of 1.85.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, February 11th. The technology company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.16 billion. Generac had a return on equity of 14.55% and a net margin of 3.79%.The firm’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter last year, the business earned $2.80 earnings per share. Research analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. MidFirst Bank purchased a new position in shares of Generac during the 4th quarter valued at about $580,000. Pacer Advisors Inc. boosted its position in Generac by 16.7% in the 4th quarter. Pacer Advisors Inc. now owns 5,548 shares of the technology company’s stock worth $757,000 after purchasing an additional 794 shares in the last quarter. Virtu Financial LLC increased its holdings in shares of Generac by 89.2% during the 4th quarter. Virtu Financial LLC now owns 30,377 shares of the technology company’s stock valued at $4,143,000 after purchasing an additional 14,321 shares in the last quarter. Invesco Ltd. lifted its stake in shares of Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after purchasing an additional 806,430 shares during the period. Finally, Vident Advisory LLC boosted its holdings in Generac by 5.6% during the fourth quarter. Vident Advisory LLC now owns 2,800 shares of the technology company’s stock worth $382,000 after buying an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Company Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.