Generac (NYSE:GNRC) Stock Breaks Above Fifty Day Moving Average – Time to Sell?

Generac Holdings Inc. (NYSE:GNRC)’s share price crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $199.50 and traded as high as $203.46. Generac shares last traded at $201.1780, with a volume of 2,364,252 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on GNRC shares. Roth Capital raised their price target on Generac from $214.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, September 17th. Weiss Ratings raised Generac from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Jefferies Financial Group reissued a “buy” rating on shares of Generac in a report on Thursday. HSBC downgraded shares of Generac to a “hold” rating and set a $333.00 target price on the stock. in a research note on Thursday, September 17th. Finally, Barclays raised their target price on shares of Generac from $278.00 to $281.00 and gave the company an “equal weight” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $290.41.

Generac Price Performance

The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.97. The stock has a market capitalization of $11.67 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 1.74 and a beta of 1.91. The firm has a 50-day moving average price of $199.18 and a 200 day moving average price of $217.49.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, October 28th. The technology company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.14. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Generac had a return on equity of 18.78% and a net margin of 6.52%. Generac’s revenue for the quarter was up 16.2% compared to the same quarter last year. During the same period last year, the firm posted $1.83 EPS. On average, analysts expect that Generac Holdings Inc. will post 9.74 EPS for the current year.

Insider Transactions at Generac

In other news, insider Kyle Raabe sold 603 shares of the company’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $212.57, for a total value of $128,179.71. Following the completion of the sale, the insider owned 9,966 shares of the company’s stock, valued at approximately $2,118,472.62. This represents a 5.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman Taffe sold 150 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $220.00, for a total transaction of $33,000.00. Following the completion of the sale, the insider directly owned 10,976 shares of the company’s stock, valued at $2,414,720. This trade represents a 1.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 18,442 shares of company stock worth $3,656,537. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Generac

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Generac in the second quarter worth $1,170,960,000. Bank of America Corp DE bought a new position in Generac in the second quarter worth $175,942,000. Park Presidio Capital LLC purchased a new position in Generac during the second quarter valued at $158,140,000. Bank of New York Mellon Corp purchased a new position in Generac during the second quarter valued at $90,872,000. Finally, Amundi boosted its holdings in shares of Generac by 174.9% during the 1st quarter. Amundi now owns 433,016 shares of the technology company’s stock valued at $84,581,000 after buying an additional 275,506 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Company Profile

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.