Generac (NYSE:GNRC) Upgraded to Hold at Zacks Research

Generac (NYSE:GNRC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Thursday,Zacks.com reports.

A number of other equities research analysts also recently commented on the stock. Robert W. Baird set a $292.00 target price on shares of Generac in a research report on Thursday, February 12th. Needham & Company LLC assumed coverage on Generac in a research note on Monday, January 12th. They issued a “buy” rating and a $211.00 price target on the stock. Canaccord Genuity Group set a $275.00 price objective on Generac in a report on Thursday, February 12th. TD Cowen increased their target price on Generac from $220.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Finally, Wells Fargo & Company raised their target price on Generac from $185.00 to $234.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and an average price target of $220.19.

Generac Trading Up 0.8%

Generac stock opened at $229.20 on Thursday. Generac has a one year low of $99.50 and a one year high of $236.00. The business’s fifty day moving average is $167.96 and its 200 day moving average is $172.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.03 and a quick ratio of 1.00. The stock has a market capitalization of $13.45 billion, a PE ratio of 85.52, a price-to-earnings-growth ratio of 1.66 and a beta of 1.85.

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

Hedge Funds Weigh In On Generac

Several large investors have recently added to or reduced their stakes in GNRC. Invesco Ltd. raised its position in shares of Generac by 49.9% during the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after purchasing an additional 806,430 shares during the period. Vident Advisory LLC increased its stake in Generac by 5.6% in the 4th quarter. Vident Advisory LLC now owns 2,800 shares of the technology company’s stock worth $382,000 after buying an additional 149 shares in the last quarter. Beacon Pointe Advisors LLC bought a new stake in Generac during the fourth quarter valued at about $2,134,000. EP Wealth Advisors LLC purchased a new position in shares of Generac in the fourth quarter valued at about $517,000. Finally, Mackenzie Financial Corp boosted its stake in shares of Generac by 7.4% in the fourth quarter. Mackenzie Financial Corp now owns 573,064 shares of the technology company’s stock worth $78,847,000 after acquiring an additional 39,710 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

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.