Generac Holdings Inc. (NYSE:GNRC) Sees Significant Decrease in Short Interest

Generac Holdings Inc. (NYSE:GNRC) was the recipient of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 2,590,000 shares, a decrease of 8.2% from the August 31st total of 2,820,000 shares. Currently, 4.4% of the company’s stock are sold short. Based on an average daily trading volume, of 857,700 shares, the days-to-cover ratio is currently 3.0 days.

Generac Price Performance

Shares of NYSE:GNRC traded down $0.69 during trading on Tuesday, reaching $158.19. The stock had a trading volume of 914,031 shares, compared to its average volume of 958,815. Generac has a 52 week low of $79.86 and a 52 week high of $169.57. The business’s 50-day moving average price is $148.56 and its 200 day moving average price is $141.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99. The stock has a market capitalization of $9.59 billion, a PE ratio of 43.50, a P/E/G ratio of 1.88 and a beta of 1.38.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. Generac had a net margin of 6.03% and a return on equity of 15.35%. The company had revenue of $998.20 million during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the previous year, the company posted $1.08 earnings per share. Generac’s quarterly revenue was down .2% compared to the same quarter last year. As a group, equities analysts predict that Generac will post 6.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of GNRC. Capital World Investors increased its holdings in shares of Generac by 2.1% in the first quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock valued at $155,207,000 after purchasing an additional 25,646 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Generac in the second quarter valued at approximately $98,282,000. Dimensional Fund Advisors LP increased its holdings in shares of Generac by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock valued at $92,941,000 after purchasing an additional 35,026 shares in the last quarter. Ninety One UK Ltd increased its holdings in shares of Generac by 0.7% in the second quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock valued at $68,720,000 after purchasing an additional 3,849 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in shares of Generac by 29.2% in the second quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock valued at $60,487,000 after purchasing an additional 103,439 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on GNRC shares. TD Cowen increased their target price on shares of Generac from $144.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Stephens reissued an “overweight” rating and set a $200.00 target price on shares of Generac in a research report on Monday, August 5th. The Goldman Sachs Group raised their price target on Generac from $129.00 to $148.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Scotiabank raised their price target on Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, Canaccord Genuity Group raised their price target on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $154.71.

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.