Generac (NYSE:GNRC) Lowered to Neutral at Janney Montgomery Scott

Janney Montgomery Scott downgraded shares of Generac (NYSE:GNRC) from a buy rating to a neutral rating in a research report released on Thursday morning, MarketBeat reports. The firm currently has $154.00 price objective on the technology company’s stock, up from their previous price objective of $126.00.

Other research analysts also recently issued research reports about the stock. TD Cowen dropped their target price on shares of Generac from $165.00 to $144.00 and set an outperform rating on the stock in a research note on Thursday, February 15th. UBS Group dropped their target price on shares of Generac from $160.00 to $150.00 and set a buy rating on the stock in a research note on Thursday, February 15th. Roth Mkm upped their target price on shares of Generac from $120.00 to $135.00 and gave the stock a neutral rating in a research note on Tuesday, April 23rd. Oppenheimer downgraded shares of Generac from an outperform rating to a market perform rating in a research note on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. restated a neutral rating and set a $149.00 price objective on shares of Generac in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $141.67.

Generac Price Performance

Shares of GNRC opened at $134.97 on Thursday. The stock has a market cap of $8.18 billion, a PE ratio of 37.18, a price-to-earnings-growth ratio of 1.85 and a beta of 1.44. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.29. Generac has a fifty-two week low of $79.86 and a fifty-two week high of $156.95. The firm’s 50-day simple moving average is $139.57 and its two-hundred day simple moving average is $127.12.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.16. The business had revenue of $889.27 million for the quarter, compared to analysts’ expectations of $886.60 million. Generac had a net margin of 5.68% and a return on equity of 14.68%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. Analysts anticipate that Generac will post 6.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $126.94, for a total value of $634,700.00. Following the completion of the sale, the chief executive officer now directly owns 592,177 shares of the company’s stock, valued at $75,170,948.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $126.94, for a total value of $634,700.00. Following the completion of the sale, the chief executive officer now directly owns 592,177 shares of the company’s stock, valued at $75,170,948.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Erik Wilde sold 4,384 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $154.04, for a total transaction of $675,311.36. Following the completion of the sale, the executive vice president now directly owns 17,897 shares of the company’s stock, valued at $2,756,853.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,785 shares of company stock valued at $11,688,161. Insiders own 2.80% of the company’s stock.

Institutional Trading of Generac

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors purchased a new position in Generac during the fourth quarter valued at $155,707,000. Norges Bank purchased a new position in Generac during the fourth quarter valued at $67,253,000. Wellington Management Group LLP grew its stake in Generac by 432.9% during the fourth quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock valued at $50,697,000 after acquiring an additional 318,664 shares in the last quarter. Ariel Investments LLC grew its stake in Generac by 14.9% during the third quarter. Ariel Investments LLC now owns 2,010,344 shares of the technology company’s stock valued at $219,047,000 after acquiring an additional 261,050 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its stake in Generac by 831.1% during the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock valued at $30,288,000 after acquiring an additional 214,322 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.