Generac (NYSE:GNRC) Shares Gap Up – Here’s Why

Generac Holdings Inc. (NYSE:GNRC)’s share price gapped up before the market opened on Friday . The stock had previously closed at $247.79, but opened at $260.02. Generac shares last traded at $262.7260, with a volume of 159,517 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GNRC. Roth Mkm restated a “neutral” rating and set a $257.00 price target on shares of Generac in a report on Thursday, April 30th. Guggenheim restated a “neutral” rating and set a $202.00 price target on shares of Generac in a report on Tuesday, February 10th. Raymond James Financial set a $302.00 price target on shares of Generac in a report on Friday. Needham & Company LLC restated a “buy” rating and set a $277.00 price target on shares of Generac in a report on Thursday, March 26th. Finally, Robert W. Baird set a $311.00 target price on shares of Generac in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.88.

Generac Stock Up 8.3%

The business’s 50 day moving average is $221.62 and its 200-day moving average is $188.65. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. The firm has a market capitalization of $15.80 billion, a price-to-earnings ratio of 84.03, a price-to-earnings-growth ratio of 2.29 and a beta of 1.93.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the business posted $1.26 EPS. Generac’s revenue was up 12.5% compared to the same quarter last year. Equities analysts anticipate that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

Insider Transactions at Generac

In related news, CFO York A. Ragen sold 24,362 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the transaction, the chief financial officer directly owned 137,182 shares in the company, valued at approximately $32,321,451.02. This trade represents a 15.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.40% of the company’s stock.

Institutional Trading of Generac

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Essential Partners LLC grew its position in Generac by 57.0% in the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after purchasing an additional 61 shares during the last quarter. Western Wealth Management LLC acquired a new stake in Generac in the 1st quarter worth $285,000. Bank of America Corp DE grew its position in Generac by 19.7% in the 1st quarter. Bank of America Corp DE now owns 742,576 shares of the technology company’s stock worth $145,047,000 after purchasing an additional 122,101 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Generac in the 1st quarter worth $2,535,000. Finally, Centaurus Financial Inc. acquired a new stake in Generac in the 1st quarter worth $137,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

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.