Generac (NYSE:GNRC) Trading 7.2% Higher After Better-Than-Expected Earnings

Generac Holdings Inc. (NYSE:GNRC)’s share price traded up 7.2% on Wednesday following a stronger than expected earnings report. The company traded as high as $152.31 and last traded at $152.00. 756,609 shares were traded during trading, a decline of 1% from the average session volume of 766,264 shares. The stock had previously closed at $141.74.

The technology company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.31. Generac had a return on equity of 16.70% and a net margin of 7.17%.

Analysts Set New Price Targets

Several analysts recently commented on GNRC shares. JPMorgan Chase & Co. upped their target price on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Roth Mkm upped their price objective on shares of Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Barclays started coverage on shares of Generac in a research note on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 target price for the company. Truist Financial cut their price target on shares of Generac from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Stifel Nicolaus lifted their price objective on Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $173.55.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $145.15, for a total transaction of $725,750.00. Following the transaction, the chief executive officer now directly owns 565,825 shares in the company, valued at approximately $82,129,498.75. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by insiders.

Institutional Trading of Generac

Several institutional investors and hedge funds have recently made changes to their positions in the company. Empirical Finance LLC grew its position in Generac by 4.1% in the 3rd quarter. Empirical Finance LLC now owns 1,689 shares of the technology company’s stock worth $268,000 after purchasing an additional 66 shares in the last quarter. Allworth Financial LP boosted its stake in shares of Generac by 3.0% in the 4th quarter. Allworth Financial LP now owns 2,738 shares of the technology company’s stock worth $435,000 after buying an additional 80 shares during the last quarter. Nicollet Investment Management Inc. grew its holdings in shares of Generac by 1.1% in the third quarter. Nicollet Investment Management Inc. now owns 7,866 shares of the technology company’s stock valued at $1,250,000 after acquiring an additional 82 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Generac by 42.0% during the fourth quarter. Venturi Wealth Management LLC now owns 284 shares of the technology company’s stock valued at $44,000 after acquiring an additional 84 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in Generac by 6.3% during the fourth quarter. Cornerstone Wealth Management LLC now owns 1,518 shares of the technology company’s stock worth $235,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Stock Performance

The firm has a market cap of $9.06 billion, a PE ratio of 31.61, a PEG ratio of 1.44 and a beta of 1.42. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The company has a 50-day simple moving average of $157.62 and a two-hundred day simple moving average of $160.69.

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.