Generac Holdlings Inc. (GNRC) Downgraded to Underperform at Wolfe Research
Wolfe Research cut shares of Generac Holdlings Inc. (NYSE:GNRC) from a market perform rating to an underperform rating in a report released on Monday morning, The Fly reports.
Other equities analysts also recently issued reports about the stock. TheStreet upgraded shares of Generac Holdlings from a c+ rating to a b- rating in a research note on Wednesday, September 27th. BidaskClub raised shares of Generac Holdlings from a hold rating to a buy rating in a research report on Friday, September 8th. Bank of America Corporation raised shares of Generac Holdlings from a neutral rating to a buy rating and upped their price objective for the stock from $45.00 to $50.00 in a research report on Friday, September 15th. Robert W. Baird reaffirmed a buy rating and set a $50.00 price objective on shares of Generac Holdlings in a research report on Wednesday, October 4th. Finally, Zacks Investment Research raised shares of Generac Holdlings from a hold rating to a buy rating and set a $55.00 price objective for the company in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Generac Holdlings presently has a consensus rating of Buy and a consensus target price of $53.00.
Generac Holdlings (NYSE GNRC) opened at $48.68 on Monday. Generac Holdlings has a fifty-two week low of $33.77 and a fifty-two week high of $53.78. The company has a market cap of $3,026.12, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.68 and a beta of 1.79. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.77 and a quick ratio of 1.01.
Generac Holdlings (NYSE:GNRC) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.04. Generac Holdlings had a net margin of 7.47% and a return on equity of 46.06%. The firm had revenue of $457.25 million for the quarter, compared to the consensus estimate of $420.42 million. During the same period in the previous year, the company earned $0.82 earnings per share. The company’s quarterly revenue was up 22.5% on a year-over-year basis. equities research analysts predict that Generac Holdlings will post 3.22 EPS for the current year.
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In other news, CMO Russell S. Minick sold 24,085 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $50.92, for a total value of $1,226,408.20. Following the completion of the transaction, the chief marketing officer now owns 39,369 shares of the company’s stock, valued at $2,004,669.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $52.00, for a total transaction of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,029,911 shares of the company’s stock, valued at approximately $53,555,372. The disclosure for this sale can be found here. Insiders sold 39,085 shares of company stock valued at $1,927,408 in the last three months. Company insiders own 3.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP acquired a new position in shares of Generac Holdlings in the third quarter valued at approximately $363,000. Colony Group LLC acquired a new position in shares of Generac Holdlings in the third quarter valued at approximately $1,588,000. California Public Employees Retirement System increased its stake in shares of Generac Holdlings by 10.2% in the third quarter. California Public Employees Retirement System now owns 201,053 shares of the technology company’s stock valued at $9,234,000 after buying an additional 18,653 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Generac Holdlings by 7.7% in the third quarter. Janney Montgomery Scott LLC now owns 16,472 shares of the technology company’s stock valued at $757,000 after buying an additional 1,180 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Generac Holdlings in the third quarter valued at approximately $420,000. 97.19% of the stock is owned by institutional investors.
Generac Holdlings Company Profile
Generac Holdings Inc (Generac) is a designer and manufacturer of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business.
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