Zacks Investment Research Downgrades Generac (NYSE:GNRC) to Hold

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Generac (NYSE:GNRC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Generac Holdings Inc. is a manufacturer of backup power generation products serving residential, light commercial and industrial markets. The Company designs, engineers, manufactures, and markets a range of automatic, stationary standby, and portable generators. Generac’s power systems range in output from 800 watts to 9 megawatts and are available through a broad network of independent and industrial dealers, retailers and wholesalers. The Company offers generators fueled by natural gas, liquid propane, gasoline, diesel, and Bi-Fuel. It also provides air-cooled engines. In addition, Generac designs, manufactures, sources and modifies engines, alternators, automatic transfer switches and other components necessary for its products. The Company’s generators are fueled by natural gas, liquid propane, gasoline, diesel and Bi-Fuel (combined diesel and natural gas). Generac Holdings Inc. is headquartered in Waukesha, Wisconsin. “

GNRC has been the subject of several other research reports. Northcoast Research lifted their price objective on shares of Generac from $93.00 to $118.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Canaccord Genuity set a $95.00 price objective on shares of Generac and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Bank of America lowered shares of Generac from a “buy” rating to a “neutral” rating and set a $108.00 price objective for the company. in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $103.40.

Shares of GNRC stock traded up $1.45 on Tuesday, hitting $100.51. The company’s stock had a trading volume of 616,001 shares, compared to its average volume of 514,771. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.39 and a quick ratio of 1.30. Generac has a fifty-two week low of $45.43 and a fifty-two week high of $102.13. The firm’s fifty day moving average price is $94.64 and its 200-day moving average price is $78.08. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 3.19 and a beta of 1.18.

Generac (NYSE:GNRC) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.10. Generac had a net margin of 11.85% and a return on equity of 36.32%. The business had revenue of $601.14 million during the quarter, compared to analyst estimates of $583.14 million. During the same quarter in the previous year, the business earned $1.43 EPS. Generac’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts predict that Generac will post 4.91 EPS for the current fiscal year.

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $97.34, for a total transaction of $486,700.00. Following the completion of the transaction, the chief executive officer now owns 675,143 shares of the company’s stock, valued at approximately $65,718,419.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co NY lifted its position in Generac by 0.7% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 19,581 shares of the technology company’s stock worth $1,534,000 after acquiring an additional 130 shares during the last quarter. Millennium Management LLC bought a new position in shares of Generac during the 3rd quarter worth about $1,027,000. Man Group plc increased its holdings in shares of Generac by 21.1% during the 3rd quarter. Man Group plc now owns 155,484 shares of the technology company’s stock worth $12,181,000 after purchasing an additional 27,080 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Generac by 182.3% during the 3rd quarter. Squarepoint Ops LLC now owns 65,974 shares of the technology company’s stock worth $5,168,000 after purchasing an additional 42,604 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in shares of Generac during the 3rd quarter worth about $1,924,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

About Generac

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power 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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