Generac (NYSE:GNRC) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of Generac (NYSE:GNRC) from a hold rating to a buy rating in a research report sent to investors on Friday.

GNRC has been the subject of a number of other reports. Northland Securities lifted their price target on shares of Generac from $160.00 to $180.00 and gave the company an outperform rating in a research report on Thursday, August 1st. Piper Sandler boosted their target price on Generac from $150.00 to $175.00 and gave the company an overweight rating in a research report on Monday, July 22nd. TD Cowen raised their price target on Generac from $144.00 to $172.00 and gave the stock a buy rating in a research report on Thursday, August 1st. The Goldman Sachs Group boosted their price objective on Generac from $129.00 to $148.00 and gave the company a buy rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. raised their target price on Generac from $149.00 to $155.00 and gave the company a neutral rating in a report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Generac presently has an average rating of Hold and an average target price of $154.71.

Generac Stock Down 0.8 %

Shares of NYSE GNRC opened at $141.76 on Friday. Generac has a 1 year low of $79.86 and a 1 year high of $169.57. The company has a market capitalization of $8.59 billion, a P/E ratio of 39.05, a P/E/G ratio of 1.83 and a beta of 1.38. The company has a 50 day simple moving average of $149.26 and a 200-day simple moving average of $139.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. The company had revenue of $998.20 million for the quarter, compared to the consensus estimate of $1 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 earnings per share. On average, equities research analysts predict that Generac will post 6.52 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $133.39, for a total value of $666,950.00. Following the completion of the transaction, the chief executive officer now owns 577,177 shares in the company, valued at approximately $76,989,640.03. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Generac

A number of large investors have recently made changes to their positions in GNRC. DAVENPORT & Co LLC boosted its holdings in shares of Generac by 831.1% in 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 during the period. Capital World Investors acquired a new stake in Generac during the 4th quarter worth $155,707,000. Kampmann Melissa S. purchased a new position in Generac during the 4th quarter worth $750,000. Bank of Nova Scotia increased its stake in Generac by 1,350.9% in the fourth quarter. Bank of Nova Scotia now owns 32,559 shares of the technology company’s stock valued at $4,208,000 after purchasing an additional 30,315 shares during the period. Finally, Epoch Investment Partners Inc. purchased a new stake in shares of Generac in the first quarter valued at about $1,053,000. 84.04% of the stock is owned by institutional investors and hedge funds.

About Generac

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.