$494.65 Million in Sales Expected for Generac Holdings Inc. (GNRC) This Quarter

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Equities analysts expect Generac Holdings Inc. (NYSE:GNRC) to announce sales of $494.65 million for the current quarter, according to Zacks. Seven analysts have made estimates for Generac’s earnings, with the lowest sales estimate coming in at $485.20 million and the highest estimate coming in at $506.00 million. Generac posted sales of $457.25 million in the same quarter last year, which suggests a positive year over year growth rate of 8.2%. The business is expected to announce its next quarterly earnings report on Wednesday, November 7th.

On average, analysts expect that Generac will report full year sales of $1.90 billion for the current financial year, with estimates ranging from $1.89 billion to $1.91 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.93 billion per share, with estimates ranging from $1.79 billion to $2.00 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Generac.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, August 1st. The technology company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.20. The business had revenue of $494.90 million for the quarter, compared to analyst estimates of $448.41 million. Generac had a return on equity of 46.62% and a net margin of 11.18%. The company’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 earnings per share.

Several research analysts have issued reports on GNRC shares. Zacks Investment Research upgraded Generac from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Friday, May 4th. KeyCorp reissued a “buy” rating and issued a $60.00 price objective on shares of Generac in a research note on Wednesday, August 1st. Stifel Nicolaus increased their price objective on Generac from $52.00 to $56.00 and gave the stock a “hold” rating in a research note on Thursday, August 2nd. Canaccord Genuity set a $54.00 price objective on Generac and gave the stock a “hold” rating in a research note on Tuesday, July 24th. Finally, Robert W. Baird reissued a “hold” rating and issued a $54.00 price objective on shares of Generac in a research note on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Generac has an average rating of “Hold” and an average target price of $54.98.

Generac traded down $0.58, hitting $54.69, on Tuesday, Marketbeat.com reports. The stock had a trading volume of 191,505 shares, compared to its average volume of 531,850. The firm has a market cap of $3.43 billion, a P/E ratio of 16.09, a PEG ratio of 2.07 and a beta of 1.49. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.04 and a current ratio of 1.94. Generac has a 52 week low of $35.94 and a 52 week high of $56.64.

In other news, insider Russell S. Minick sold 14,662 shares of the stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $51.53, for a total value of $755,532.86. Following the completion of the sale, the insider now directly owns 25,353 shares of the company’s stock, valued at $1,306,440.09. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Aaron Jagdfeld sold 20,000 shares of the stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $50.40, for a total value of $1,008,000.00. Following the sale, the chief executive officer now directly owns 903,571 shares of the company’s stock, valued at $45,539,978.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,662 shares of company stock valued at $3,894,533. Company insiders own 3.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of GNRC. BlackRock Inc. increased its position in shares of Generac by 14.5% during the second quarter. BlackRock Inc. now owns 4,838,216 shares of the technology company’s stock valued at $250,281,000 after acquiring an additional 614,112 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Generac by 32.8% during the second quarter. Janus Henderson Group PLC now owns 1,874,526 shares of the technology company’s stock valued at $96,969,000 after acquiring an additional 463,226 shares during the last quarter. Redwood Investments LLC purchased a new stake in shares of Generac during the second quarter valued at approximately $19,363,000. Eagle Asset Management Inc. purchased a new stake in shares of Generac during the second quarter valued at approximately $14,663,000. Finally, Atwood & Palmer Inc. purchased a new stake in shares of Generac during the first quarter valued at approximately $8,794,000. 98.02% of the stock is owned by institutional investors.

About Generac

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other engine powered products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.

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