Generac Holdings Inc. (NYSE:GNRC) to Post Q3 2022 Earnings of $3.32 Per Share, William Blair Forecasts

Generac Holdings Inc. (NYSE:GNRC – Get Rating) – Analysts at William Blair raised their Q3 2022 earnings estimates for Generac in a note issued to investors on Wednesday, August 3rd. William Blair analyst B. Drab now expects that the technology company will post earnings of $3.32 per share for the quarter, up from their previous forecast of $3.25. The consensus estimate for Generac’s current full-year earnings is $11.75 per share.

Generac (NYSE:GNRC – Get Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The technology company reported $2.99 EPS for the quarter, topping the consensus estimate of $2.65 by $0.34. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. Generac had a net margin of 12.28% and a return on equity of 29.42%. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.39 earnings per share.

Several other research firms also recently commented on GNRC. Wells Fargo & Company assumed coverage on shares of Generac in a research note on Wednesday, June 29th. They issued an “overweight” rating and a $285.00 price target for the company. Roth Capital lowered their target price on shares of Generac from $555.00 to $320.00 and set a “buy” rating for the company in a research note on Tuesday, May 24th. Canaccord Genuity Group lowered their target price on shares of Generac from $556.00 to $485.00 and set a “buy” rating for the company in a research note on Thursday, May 5th. Piper Sandler lowered their target price on shares of Generac from $350.00 to $305.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. Finally, Robert W. Baird boosted their target price on shares of Generac from $250.00 to $275.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $424.71.

Generac Stock Performance

NYSE:GNRC opened at $248.13 on Friday. The company has a fifty day simple moving average of $239.10 and a two-hundred day simple moving average of $262.52. The company has a market cap of $15.84 billion, a price-to-earnings ratio of 32.02, a price-to-earnings-growth ratio of 2.12 and a beta of 1.28. The company has a quick ratio of 0.71, a current ratio of 2.13 and a debt-to-equity ratio of 0.53. Generac has a 52 week low of $197.94 and a 52 week high of $524.31.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System raised its holdings in Generac by 3.7% during the second quarter. State Board of Administration of Florida Retirement System now owns 78,553 shares of the technology company’s stock worth $16,542,000 after purchasing an additional 2,816 shares in the last quarter. M&T Bank Corp raised its holdings in Generac by 4.4% during the second quarter. M&T Bank Corp now owns 7,473 shares of the technology company’s stock worth $1,436,000 after purchasing an additional 313 shares in the last quarter. Sound View Wealth Advisors Group LLC raised its holdings in Generac by 11.4% during the second quarter. Sound View Wealth Advisors Group LLC now owns 1,010 shares of the technology company’s stock worth $213,000 after purchasing an additional 103 shares in the last quarter. CapWealth Advisors LLC grew its position in Generac by 1.8% during the second quarter. CapWealth Advisors LLC now owns 18,258 shares of the technology company’s stock worth $3,845,000 after buying an additional 320 shares during the period. Finally, Archer Investment Corp acquired a new position in Generac during the second quarter worth about $105,000. 88.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $213.81, for a total transaction of $1,069,050.00. Following the completion of the transaction, the chief executive officer now directly owns 615,975 shares of the company’s stock, valued at $131,701,614.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.80% of the company’s stock.

Generac Company Profile

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Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.