Generac (NYSE:GNRC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Generac (NYSE:GNRC) from a buy rating to a strong-buy rating in a research report released on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also recently weighed in on GNRC. KeyCorp upgraded shares of Generac from a “sector weight” rating to an “overweight” rating and set a $280.00 price objective on the stock in a report on Thursday, October 8th. Stifel Nicolaus lifted their target price on shares of Generac from $285.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, September 30th. UBS Group reissued a “buy” rating on shares of Generac in a research report on Friday, September 25th. Piper Sandler started coverage on Generac in a research report on Thursday, October 8th. They issued an “overweight” rating and a $303.00 price target on the stock. Finally, Barclays cut their price target on Generac from $285.00 to $278.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $290.55.

Generac Stock Performance

NYSE:GNRC opened at $193.55 on Friday. The firm’s fifty day simple moving average is $202.25 and its 200 day simple moving average is $227.11. Generac has a twelve month low of $134.80 and a twelve month high of $296.44. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. The stock has a market cap of $11.42 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 1.65 and a beta of 1.91.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, July 29th. The technology company reported $2.91 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. As a group, research analysts predict that Generac will post 9.74 EPS for the current year.

Insider Activity

In related news, insider Norman P. Taffe sold 150 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $220.00, for a total value of $33,000.00. Following the completion of the transaction, the insider directly owned 10,976 shares in the company, valued at $2,414,720. The trade was a 1.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $206.00, for a total transaction of $1,030,000.00. Following the completion of the transaction, the chief executive officer owned 544,528 shares of the company’s stock, valued at approximately $112,172,768. The trade was a 0.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,442 shares of company stock worth $3,656,537 over the last 90 days. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Generac

Several institutional investors have recently added to or reduced their stakes in the business. Callan Family Office LLC bought a new position in shares of Generac in the 2nd quarter worth approximately $3,033,000. Hsbc Holdings PLC grew its position in Generac by 42.8% during the fourth quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company’s stock valued at $12,711,000 after buying an additional 27,893 shares during the period. Patton Fund Management Inc. bought a new stake in Generac during the first quarter valued at approximately $3,797,000. Tidal Investments LLC grew its position in Generac by 94.3% during the second quarter. Tidal Investments LLC now owns 55,302 shares of the technology company’s stock valued at $16,193,000 after buying an additional 26,836 shares during the period. Finally, Maverick Capital Ltd. purchased a new stake in Generac during the first quarter valued at approximately $1,267,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

About Generac

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.