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

Generac Holdings Inc. (NYSE:GNRC) saw a significant growth in short interest in November. As of November 15th, there was short interest totalling 2,970,000 shares, a growth of 23.8% from the October 31st total of 2,400,000 shares. Based on an average trading volume of 846,000 shares, the days-to-cover ratio is presently 3.5 days. Approximately 5.1% of the company’s shares are short sold.

Insiders Place Their Bets

In related news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the transaction, the executive vice president now directly owns 10,738 shares in the company, valued at approximately $1,971,282.04. This trade represents a 22.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $166.60, for a total value of $833,000.00. Following the completion of the sale, the chief executive officer now owns 557,177 shares in the company, valued at $92,825,688.20. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,268 shares of company stock worth $7,584,853 over the last ninety days. 2.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Generac

Several institutional investors and hedge funds have recently made changes to their positions in GNRC. William Blair Investment Management LLC bought a new stake in Generac during the second quarter valued at $98,282,000. The Manufacturers Life Insurance Company lifted its stake in shares of Generac by 114.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock valued at $88,944,000 after purchasing an additional 299,205 shares during the period. Jennison Associates LLC acquired a new stake in Generac during the third quarter worth approximately $45,722,000. International Assets Investment Management LLC increased its holdings in Generac by 25,311.7% in the third quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock worth $42,433,000 after purchasing an additional 266,026 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in Generac by 678.5% in the third quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock valued at $30,560,000 after buying an additional 167,641 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on GNRC shares. JPMorgan Chase & Co. upped their price objective on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Citigroup upped their target price on shares of Generac from $128.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Robert W. Baird reduced their price target on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Roth Mkm upped their price objective on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Stephens reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of Generac in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Generac presently has an average rating of “Moderate Buy” and a consensus price target of $174.58.

Generac Price Performance

GNRC stock opened at $188.20 on Monday. Generac has a 1 year low of $108.89 and a 1 year high of $195.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The stock has a market cap of $11.20 billion, a price-to-earnings ratio of 39.05, a P/E/G ratio of 2.31 and a beta of 1.37. The company has a 50 day simple moving average of $172.92 and a 200 day simple moving average of $155.42.

Generac (NYSE:GNRC) last issued its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.64 EPS. Research analysts anticipate that Generac will post 6.8 EPS for the current fiscal year.

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.