Generac (NYSE:GNRC) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Generac (NYSE:GNRC) from a strong sell rating to a hold rating in a report published on Wednesday,Zacks.com reports.

Other analysts have also recently issued research reports about the company. Wall Street Zen cut Generac from a “buy” rating to a “hold” rating in a research report on Sunday, September 28th. Citigroup cut their price target on Generac from $217.00 to $207.00 and set a “neutral” rating for the company in a research note on Monday, November 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Generac in a report on Wednesday, October 8th. Roth Capital set a $184.00 price target on Generac and gave the company a “neutral” rating in a research note on Thursday, October 30th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $240.00 price objective on shares of Generac in a research report on Thursday, October 30th. Thirteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and a consensus price target of $191.06.

Generac Stock Performance

Shares of GNRC opened at $163.24 on Wednesday. The company has a market capitalization of $9.58 billion, a PE ratio of 31.09, a PEG ratio of 1.59 and a beta of 1.82. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.02 and a current ratio of 2.18. The company’s 50 day moving average price is $165.74 and its 200 day moving average price is $161.96. Generac has a 52 week low of $99.50 and a 52 week high of $203.25.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, October 29th. The technology company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.42). Generac had a return on equity of 17.63% and a net margin of 6.92%.The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the company earned $2.25 EPS. The firm’s quarterly revenue was down 5.0% compared to the same quarter last year. Research analysts expect that Generac will post 8 EPS for the current fiscal year.

Insider Buying and Selling at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $166.43, for a total value of $832,150.00. Following the transaction, the chief executive officer directly owned 542,966 shares of the company’s stock, valued at approximately $90,365,831.38. This trade represents a 0.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Generac

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new position in Generac in the third quarter valued at about $26,000. Sentry Investment Management LLC increased its position 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 acquiring an additional 67 shares during the last quarter. First Horizon Corp purchased a new stake in shares of Generac in the 3rd quarter valued at approximately $28,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Generac by 81.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company’s stock worth $25,000 after acquiring an additional 77 shares during the last quarter. Finally, MUFG Securities EMEA plc purchased a new position in shares of Generac during the 2nd quarter worth approximately $25,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

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.