SunTrust Banks Research Analysts Increase Earnings Estimates for Generac Holdings Inc. (GNRC)
Generac Holdings Inc. (NYSE:GNRC) – Equities research analysts at SunTrust Banks boosted their Q4 2018 earnings per share estimates for shares of Generac in a report released on Tuesday. SunTrust Banks analyst C. Brady now anticipates that the technology company will post earnings per share of $1.22 for the quarter, up from their prior estimate of $1.12. SunTrust Banks has a “Hold” rating and a $48.00 price target on the stock.
Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.04. The business had revenue of $457.25 million for the quarter, compared to analysts’ expectations of $420.42 million. Generac had a return on equity of 46.06% and a net margin of 7.47%. The business’s quarterly revenue was up 22.5% on a year-over-year basis. During the same period last year, the firm earned $0.82 earnings per share.
Several other equities research analysts have also recently issued reports on GNRC. BidaskClub cut Generac from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Bank of America raised Generac from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $45.00 to $50.00 in a report on Friday, September 15th. KeyCorp raised Generac from a “sector weight” rating to an “overweight” rating and set a $55.00 target price on the stock in a report on Monday, October 2nd. TheStreet raised Generac from a “c+” rating to a “b-” rating in a report on Wednesday, September 27th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $50.00 target price on shares of Generac in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Generac presently has an average rating of “Buy” and a consensus target price of $52.43.
Generac (NYSE GNRC) traded up $0.25 during trading hours on Friday, reaching $49.27. The company’s stock had a trading volume of 252,764 shares, compared to its average volume of 363,308. The company has a current ratio of 1.77, a quick ratio of 1.01 and a debt-to-equity ratio of 1.92. The company has a market capitalization of $3,047.25, a PE ratio of 25.93, a PEG ratio of 1.58 and a beta of 1.74. Generac has a twelve month low of $33.77 and a twelve month high of $53.78.
In related news, CMO Russell S. Minick sold 24,085 shares of Generac stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $50.92, for a total value of $1,226,408.20. Following the completion of the transaction, the chief marketing officer now owns 39,369 shares in the company, valued at $2,004,669.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $52.00, for a total value of $260,000.00. Following the completion of the transaction, the chief executive officer now owns 1,029,911 shares of the company’s stock, valued at approximately $53,555,372. The disclosure for this sale can be found here. Insiders sold 49,085 shares of company stock worth $2,467,008 over the last ninety days. Insiders own 3.00% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. grew its position in Generac by 6.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 433,183 shares of the technology company’s stock worth $15,651,000 after acquiring an additional 25,536 shares in the last quarter. Legal & General Group Plc grew its position in Generac by 6.2% in the third quarter. Legal & General Group Plc now owns 60,743 shares of the technology company’s stock worth $2,788,000 after acquiring an additional 3,547 shares in the last quarter. Impax Asset Management AIFM Ltd grew its position in Generac by 1.9% in the third quarter. Impax Asset Management AIFM Ltd now owns 416,809 shares of the technology company’s stock worth $19,144,000 after acquiring an additional 7,600 shares in the last quarter. State Street Corp grew its position in Generac by 5.1% in the second quarter. State Street Corp now owns 1,241,485 shares of the technology company’s stock worth $44,855,000 after acquiring an additional 60,746 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in Generac by 698.3% in the second quarter. BNP Paribas Arbitrage SA now owns 10,138 shares of the technology company’s stock worth $366,000 after acquiring an additional 8,868 shares in the last quarter. Institutional investors own 95.78% of the company’s stock.
Generac Company Profile
Generac Holdings Inc (Generac) is a designer and manufacturer of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business.
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