Generac Holdings Inc. to Post Q4 2023 Earnings of $2.07 Per Share, Roth Capital Forecasts (NYSE:GNRC)

Generac Holdings Inc. (NYSE:GNRCFree Report) – Stock analysts at Roth Capital raised their Q4 2023 EPS estimates for shares of Generac in a research note issued to investors on Tuesday, February 6th. Roth Capital analyst C. Moore now anticipates that the technology company will earn $2.07 per share for the quarter, up from their prior estimate of $2.06. The consensus estimate for Generac’s current full-year earnings is $5.40 per share. Roth Capital also issued estimates for Generac’s Q2 2024 earnings at $1.67 EPS.

Several other equities analysts have also issued reports on GNRC. BNP Paribas initiated coverage on Generac in a research note on Friday, October 20th. They issued an “underperform” rating and a $78.00 price target on the stock. Bank of America raised Generac from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $76.00 to $110.00 in a research note on Wednesday, November 15th. Guggenheim upgraded Generac from a “neutral” rating to a “buy” rating and set a $142.00 price objective for the company in a report on Friday, November 3rd. Piper Sandler reduced their price target on shares of Generac from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, October 13th. Finally, Citigroup lowered their price objective on shares of Generac from $133.00 to $124.00 and set a “neutral” rating on the stock in a report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.32.

Read Our Latest Stock Report on Generac

Generac Stock Performance

Shares of GNRC opened at $127.15 on Thursday. The company has a current ratio of 2.41, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $122.09 and its two-hundred day simple moving average is $114.60. Generac has a 12 month low of $79.86 and a 12 month high of $156.95. The stock has a market capitalization of $7.81 billion, a P/E ratio of 49.86, a price-to-earnings-growth ratio of 1.60 and a beta of 1.45.

Institutional Investors Weigh In On Generac

Hedge funds have recently bought and sold shares of the stock. Parkside Financial Bank & Trust raised its position in shares of Generac by 1,066.7% during the 1st quarter. Parkside Financial Bank & Trust now owns 140 shares of the technology company’s stock valued at $42,000 after buying an additional 128 shares in the last quarter. Comerica Bank bought a new position in Generac in the second quarter valued at $230,000. Zions Bancorporation N.A. lifted its stake in Generac by 85.7% during the second quarter. Zions Bancorporation N.A. now owns 182 shares of the technology company’s stock worth $27,000 after purchasing an additional 84 shares during the last quarter. BKM Wealth Management LLC purchased a new position in shares of Generac in the 4th quarter worth about $28,000. Finally, Bartlett & Co. LLC bought a new position in shares of Generac during the 3rd quarter valued at about $26,000. 87.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Rajendra Kumar Kanuru sold 250 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $116.76, for a total value of $29,190.00. Following the completion of the transaction, the executive vice president now directly owns 15,618 shares in the company, valued at $1,823,557.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Rajendra Kumar Kanuru sold 250 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $116.76, for a total value of $29,190.00. Following the sale, the executive vice president now owns 15,618 shares in the company, valued at $1,823,557.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $115.22, for a total value of $576,100.00. Following the transaction, the chief executive officer now owns 577,690 shares of the company’s stock, valued at $66,561,441.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,250 shares of company stock valued at $1,825,490. 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, 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.

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Earnings History and Estimates for Generac (NYSE:GNRC)

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