Brokers Issue Forecasts for Generac Holdings Inc.’s Q3 2024 Earnings (NYSE:GNRC)

Generac Holdings Inc. (NYSE:GNRC) – Investment analysts at Roth Capital reduced their Q3 2024 EPS estimates for shares of Generac in a research report issued to clients and investors on Wednesday, May 1st. Roth Capital analyst C. Moore now forecasts that the technology company will earn $2.00 per share for the quarter, down from their prior forecast of $2.03. The consensus estimate for Generac’s current full-year earnings is $6.10 per share. Roth Capital also issued estimates for Generac’s Q4 2024 earnings at $2.13 EPS and FY2024 earnings at $6.28 EPS.

A number of other research firms also recently commented on GNRC. OTR Global upgraded Generac from a “mixed” rating to a “positive” rating in a research report on Tuesday, April 2nd. Robert W. Baird boosted their price objective on shares of Generac from $112.00 to $129.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Roth Mkm raised their target price on shares of Generac from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. Canaccord Genuity Group lifted their target price on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, Oppenheimer increased their price target on shares of Generac from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.40.

Generac Stock Performance

GNRC opened at $133.38 on Monday. Generac has a 1-year low of $79.86 and a 1-year high of $156.95. The stock has a market cap of $8.06 billion, a P/E ratio of 36.74, a P/E/G ratio of 1.82 and a beta of 1.41. The stock’s 50 day simple moving average is $124.48 and its 200 day simple moving average is $118.36. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.29 and a quick ratio of 0.94.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.16. Generac had a net margin of 5.68% and a return on equity of 14.68%. The company had revenue of $889.27 million for the quarter, compared to analyst estimates of $886.60 million. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year.

Insider Buying and Selling

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $139.95, for a total value of $699,750.00. Following the transaction, the chief executive officer now directly owns 587,177 shares of the company’s stock, valued at approximately $82,175,421.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.80% of the company’s stock.

Institutional Trading of Generac

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Peregrine Asset Advisers Inc. increased its position in shares of Generac by 1.6% in the fourth quarter. Peregrine Asset Advisers Inc. now owns 5,600 shares of the technology company’s stock worth $724,000 after acquiring an additional 90 shares in the last quarter. American International Group Inc. increased its holdings in Generac by 0.6% in the 4th quarter. American International Group Inc. now owns 16,550 shares of the technology company’s stock valued at $2,139,000 after purchasing an additional 93 shares in the last quarter. Alaethes Wealth LLC raised its position in Generac by 0.9% in the fourth quarter. Alaethes Wealth LLC now owns 11,420 shares of the technology company’s stock valued at $1,476,000 after purchasing an additional 97 shares during the period. Lido Advisors LLC lifted its stake in shares of Generac by 2.9% during the third quarter. Lido Advisors LLC now owns 4,143 shares of the technology company’s stock worth $451,000 after purchasing an additional 115 shares in the last quarter. Finally, AHL Investment Management Inc. boosted its position in shares of Generac by 2.3% in the first quarter. AHL Investment Management Inc. now owns 6,125 shares of the technology company’s stock worth $773,000 after buying an additional 135 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

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.