Generac (NYSE:GNRC) Issues Quarterly Earnings Results

Generac (NYSE:GNRC) issued its quarterly earnings results on Thursday. The technology company reported $2.25 EPS for the quarter, topping the consensus estimate of $1.98 by $0.27, Briefing.com reports. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 EPS. Generac updated its FY 2024 guidance to EPS.

Generac Trading Up 2.0 %

NYSE:GNRC traded up $3.36 on Friday, reaching $168.91. 1,045,144 shares of the stock traded hands, compared to its average volume of 951,695. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61. Generac has a 1-year low of $98.27 and a 1-year high of $176.14. The company’s 50 day moving average is $156.93 and its 200-day moving average is $147.89. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 43.79, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total transaction of $794,650.00. Following the completion of the transaction, the chief executive officer now owns 562,177 shares of the company’s stock, valued at $89,346,790.61. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on GNRC shares. JPMorgan Chase & Co. boosted their price target on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Truist Financial lifted their price objective on shares of Generac from $170.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Stephens reiterated an “overweight” rating and issued a $200.00 target price on shares of Generac in a research note on Monday, August 5th. Northland Securities boosted their price target on Generac from $160.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, StockNews.com raised Generac from a “hold” rating to a “buy” rating in a research report on Monday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $169.10.

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.