Generac (NYSE:GNRC) Trading 3.6% Higher

Generac Holdings Inc. (NYSE:GNRC)’s share price was up 3.6% during mid-day trading on Thursday . The company traded as high as $115.03 and last traded at $114.76. Approximately 817,795 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 1,329,284 shares. The stock had previously closed at $110.78.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GNRC. Roth Capital reaffirmed a “neutral” rating on shares of Generac in a research note on Tuesday, October 3rd. Scotiabank reduced their target price on Generac from $165.00 to $135.00 and set a “sector perform” rating for the company in a research report on Friday, September 22nd. The Goldman Sachs Group lowered their target price on shares of Generac from $154.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, August 3rd. Piper Sandler decreased their price target on shares of Generac from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, October 13th. Finally, BNP Paribas started coverage on shares of Generac in a report on Friday, October 20th. They set an “underperform” rating and a $78.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $139.82.

Generac Trading Up 0.6 %

The company has a market capitalization of $7.01 billion, a PE ratio of 44.75, a price-to-earnings-growth ratio of 2.07 and a beta of 1.31. The company has a quick ratio of 0.95, a current ratio of 2.41 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average price is $102.48 and its two-hundred day moving average price is $116.58.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.09. Generac had a net margin of 4.72% and a return on equity of 13.73%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business posted $1.75 earnings per share. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts anticipate that Generac Holdings Inc. will post 5.35 earnings per share for the current year.

Insiders Place Their Bets

In other Generac news, EVP Rajendra Kumar Kanuru sold 250 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $120.23, for a total value of $30,057.50. Following the completion of the transaction, the executive vice president now owns 16,118 shares in the company, valued at $1,937,867.14. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Rajendra Kumar Kanuru sold 250 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $120.23, for a total transaction of $30,057.50. Following the sale, the executive vice president now owns 16,118 shares of the company’s stock, valued at $1,937,867.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $108.24, for a total transaction of $541,200.00. Following the transaction, the chief executive officer now directly owns 597,690 shares of the company’s stock, valued at approximately $64,693,965.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,500 shares of company stock worth $1,675,768. Company insiders own 2.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GNRC. Vanguard Group Inc. boosted its stake in Generac by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 6,770,488 shares of the technology company’s stock worth $2,012,595,000 after purchasing an additional 130,854 shares in the last quarter. FMR LLC boosted its stake in Generac by 41.1% during the 1st quarter. FMR LLC now owns 2,549,551 shares of the technology company’s stock valued at $275,377,000 after purchasing an additional 743,267 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Generac by 9.9% in the 2nd quarter. Brown Advisory Inc. now owns 2,188,472 shares of the technology company’s stock worth $326,367,000 after purchasing an additional 197,545 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of Generac by 92,616.6% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 2,041,619 shares of the technology company’s stock worth $304,467,000 after purchasing an additional 2,039,417 shares during the last quarter. Finally, Ariel Investments LLC raised its stake in shares of Generac by 14.9% in the third quarter. Ariel Investments LLC now owns 2,010,344 shares of the technology company’s stock worth $219,047,000 after purchasing an additional 261,050 shares during the last quarter. Hedge funds and other institutional investors own 87.59% of the company’s stock.

About Generac

Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, energy management devices and solutions, and other power products for the residential, light commercial, and industrial markets worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; residential storage solution consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; Mobile Link, a remote monitoring system for home standby generators; smart home solutions, such as smart thermostats and a suite of home monitoring products; smart water heater controllers; residential clean energy solutions; and portable and inverter generators; outdoor power equipment, including trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, and pressure washers and water pumps; and battery-powered turf care products.