Generac (NYSE:GNRC) Hits New 52-Week High – Still a Buy?

Generac Holdings Inc. (NYSE:GNRC) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $266.96 and last traded at $267.0750, with a volume of 118171 shares trading hands. The stock had previously closed at $257.07.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Roth Mkm reissued a “neutral” rating and issued a $257.00 target price on shares of Generac in a research note on Thursday, April 30th. Needham & Company LLC reissued a “buy” rating and issued a $277.00 target price on shares of Generac in a research note on Thursday, March 26th. Zacks Research raised Generac from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. Bank of America reduced their target price on Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Finally, JPMorgan Chase & Co. increased their target price on Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Generac has an average rating of “Moderate Buy” and a consensus target price of $270.31.

Generac Stock Performance

The stock has a market cap of $15.71 billion, a PE ratio of 83.64, a P/E/G ratio of 2.50 and a beta of 1.93. The company has a fifty day moving average price of $213.65 and a 200 day moving average price of $183.31. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.33 by $0.47. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The company’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 earnings per share. Analysts expect that Generac Holdings Inc. will post 8.91 earnings per share for the current year.

Insider Activity at Generac

In related news, CFO York A. Ragen sold 24,362 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the sale, the chief financial officer directly owned 137,182 shares of the company’s stock, valued at $32,321,451.02. This trade represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of Generac

Several large investors have recently bought and sold shares of GNRC. MUFG Securities EMEA plc bought a new stake in Generac during the 2nd quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Generac during the 3rd quarter valued at approximately $26,000. First Horizon Corp bought a new stake in Generac during the 3rd quarter valued at approximately $28,000. Sentry Investment Management LLC lifted its holdings in shares of Generac by 69.8% during the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after purchasing an additional 67 shares during the last quarter. Finally, Avalon Trust Co purchased a new position in shares of Generac during the first quarter valued at approximately $32,000. 84.04% of the stock is owned by institutional investors.

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.