Generac Holdings Inc. (NYSE:GNRC) Short Interest Update

Generac Holdings Inc. (NYSE:GNRC) was the target of a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 2,250,000 shares, a drop of 22.4% from the February 28th total of 2,900,000 shares. Based on an average daily volume of 831,100 shares, the short-interest ratio is presently 2.7 days. Currently, 3.8% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GNRC. Robert W. Baird dropped their target price on shares of Generac from $172.00 to $171.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. The Goldman Sachs Group dropped their price objective on Generac from $193.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Bank of America began coverage on Generac in a report on Monday, March 24th. They issued a “buy” rating and a $182.00 target price for the company. Wells Fargo & Company dropped their price target on Generac from $175.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Finally, UBS Group lifted their price objective on Generac from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Ten investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.38.

Generac Stock Up 1.4 %

Generac stock traded up $1.82 during midday trading on Wednesday, reaching $128.15. The company’s stock had a trading volume of 500,627 shares, compared to its average volume of 886,570. Generac has a 52-week low of $122.86 and a 52-week high of $195.94. The stock has a market capitalization of $7.64 billion, a P/E ratio of 23.73, a PEG ratio of 1.44 and a beta of 1.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97. The stock’s 50-day simple moving average is $139.23 and its 200-day simple moving average is $157.60.

Generac (NYSE:GNRC) last released its earnings results on Wednesday, February 12th. The technology company reported $2.80 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. On average, sell-side analysts expect that Generac will post 8 EPS for the current year.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total value of $725,750.00. Following the sale, the chief executive officer now owns 565,825 shares in the company, valued at $82,129,498.75. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Generac

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB purchased a new position in Generac in the 4th quarter worth $5,229,000. Global Financial Private Client LLC purchased a new position in shares of Generac in the fourth quarter worth about $614,000. Franklin Resources Inc. lifted its holdings in shares of Generac by 106.1% during the third quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company’s stock worth $4,998,000 after purchasing an additional 14,811 shares during the period. Glenmede Trust Co. NA boosted its position in Generac by 54.1% in the third quarter. Glenmede Trust Co. NA now owns 11,984 shares of the technology company’s stock valued at $1,904,000 after buying an additional 4,209 shares during the last quarter. Finally, Barclays PLC increased its holdings in Generac by 41.4% in the 3rd quarter. Barclays PLC now owns 185,193 shares of the technology company’s stock worth $29,425,000 after buying an additional 54,202 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

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.