KeyCorp Analysts Boost Earnings Estimates for Generac Holdings Inc. (NYSE:GNRC)

Generac Holdings Inc. (NYSE:GNRCGet Rating) – Research analysts at KeyCorp boosted their Q3 2022 EPS estimates for Generac in a research note issued to investors on Wednesday, August 3rd. KeyCorp analyst J. Hammond now expects that the technology company will post earnings of $3.18 per share for the quarter, up from their prior estimate of $3.14. KeyCorp currently has a “Overweight” rating and a $325.00 target price on the stock. The consensus estimate for Generac’s current full-year earnings is $11.75 per share. KeyCorp also issued estimates for Generac’s Q4 2022 earnings at $3.64 EPS and FY2022 earnings at $11.89 EPS.

Several other equities analysts have also recently commented on the stock. TheStreet cut shares of Generac from a “b-” rating to a “c+” rating in a research note on Tuesday, July 12th. OTR Global cut shares of Generac from a “mixed” rating to a “negative” rating in a research note on Friday, July 22nd. Canaccord Genuity Group cut 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. Roth Capital cut 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. Finally, Wells Fargo & Company initiated coverage on shares of Generac in a report on Wednesday, June 29th. They issued an “overweight” rating and a $285.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and an average price target of $424.71.

Generac Price Performance

Shares of Generac stock opened at $248.13 on Friday. The stock has a market capitalization of $15.84 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 2.12 and a beta of 1.28. Generac has a 1-year low of $197.94 and a 1-year high of $524.31. The firm has a fifty day simple moving average of $239.10 and a 200-day simple moving average of $262.52. The company has a current ratio of 2.13, a quick ratio of 0.71 and a debt-to-equity ratio of 0.53.

Generac (NYSE:GNRCGet Rating) last issued its quarterly earnings data on Wednesday, August 3rd. The technology company reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.34. Generac had a net margin of 12.28% and a return on equity of 29.42%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company earned $2.39 earnings per share. Generac’s revenue for the quarter was up 40.3% on a year-over-year basis.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $264.96, for a total transaction of $1,324,800.00. Following the sale, the chief executive officer now owns 610,975 shares of the company’s stock, valued at approximately $161,883,936. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Generac

A number of hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its position in Generac by 260.2% during the 1st quarter. Signaturefd LLC now owns 479 shares of the technology company’s stock valued at $142,000 after purchasing an additional 346 shares during the period. State Street Corp lifted its position in Generac by 0.8% during the 4th quarter. State Street Corp now owns 2,591,402 shares of the technology company’s stock valued at $911,966,000 after purchasing an additional 20,575 shares during the period. Sei Investments Co. lifted its position in Generac by 20.0% during the 4th quarter. Sei Investments Co. now owns 117,678 shares of the technology company’s stock valued at $41,368,000 after purchasing an additional 19,576 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its position in Generac by 8.1% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 93,655 shares of the technology company’s stock valued at $32,959,000 after purchasing an additional 7,013 shares during the period. Finally, NEXT Financial Group Inc lifted its position in Generac by 26.7% during the 4th quarter. NEXT Financial Group Inc now owns 4,411 shares of the technology company’s stock valued at $1,552,000 after purchasing an additional 929 shares during the period. Institutional investors own 88.35% of the company’s stock.

About Generac

(Get Rating)

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.

Further Reading

Earnings History and Estimates for Generac (NYSE:GNRC)

Receive News & Ratings for Generac Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Generac and related companies with MarketBeat.com's FREE daily email newsletter.