Generac (NYSE:GNRC) Now Covered by Analysts at Jefferies Financial Group

Research analysts at Jefferies Financial Group assumed coverage on shares of Generac (NYSE:GNRC) in a note issued to investors on Friday. The firm set a “hold” rating and a $222.00 price target on the technology company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 11.82% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Wells Fargo & Company lifted their target price on Generac from $185.00 to $234.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Robert W. Baird set a $292.00 price objective on shares of Generac in a research report on Thursday, February 12th. Barclays increased their price target on shares of Generac from $186.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Needham & Company LLC began coverage on shares of Generac in a report on Monday, January 12th. They set a “buy” rating and a $211.00 target price on the stock. Finally, Zacks Research raised shares of Generac from a “strong sell” rating to a “hold” rating in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $222.06.

Generac Trading Down 1.2%

Generac stock traded down $2.32 during trading hours on Friday, hitting $198.53. The stock had a trading volume of 259,995 shares, compared to its average volume of 1,155,712. The business’s 50 day simple moving average is $195.64 and its 200-day simple moving average is $174.89. Generac has a one year low of $99.50 and a one year high of $241.09. The stock has a market cap of $11.65 billion, a price-to-earnings ratio of 73.75, a P/E/G ratio of 1.46 and a beta of 1.74. The company has a quick ratio of 1.00, a current ratio of 2.03 and a debt-to-equity ratio of 0.48.

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

Insiders Place Their Bets

In other news, CFO York A. Ragen sold 24,362 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the transaction, the chief financial officer directly owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Generac

Several institutional investors and hedge funds have recently modified their holdings of GNRC. MUFG Securities EMEA plc bought a new stake in Generac during the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Generac in the third quarter worth about $26,000. First Horizon Corp purchased a new position in shares of Generac during the 3rd quarter valued at about $28,000. Sentry Investment Management LLC lifted its position in shares of Generac by 69.8% during the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after buying an additional 67 shares in the last quarter. Finally, Quent Capital LLC bought a new position in shares of Generac during the 3rd quarter valued at approximately $41,000. 84.04% of the stock is currently owned by institutional investors.

About Generac

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.