Q3 2024 EPS Estimates for Generac Holdings Inc. (NYSE:GNRC) Decreased by Analyst

Generac Holdings Inc. (NYSE:GNRC) – Equities researchers at William Blair reduced their Q3 2024 EPS estimates for shares of Generac in a research note issued on Wednesday, May 1st. William Blair analyst B. Drab now forecasts that the technology company will earn $1.92 per share for the quarter, down from their prior forecast of $1.97. The consensus estimate for Generac’s current full-year earnings is $6.10 per share. William Blair also issued estimates for Generac’s Q4 2024 earnings at $2.24 EPS.

GNRC has been the topic of a number of other research reports. TD Cowen dropped their price target on Generac from $165.00 to $144.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Robert W. Baird increased their price objective on Generac from $112.00 to $129.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Roth Mkm boosted their target price on shares of Generac from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 23rd. Citigroup increased their target price on shares of Generac from $124.00 to $128.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Finally, Canaccord Genuity Group upped their target price on Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.40.

Generac Stock Up 2.2 %

Shares of GNRC stock opened at $136.30 on Monday. Generac has a 1 year low of $79.86 and a 1 year high of $156.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.29. The business’s fifty day moving average is $125.00 and its 200-day moving average is $118.66. The stock has a market cap of $8.24 billion, a PE ratio of 37.55, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. Generac had a net margin of 5.68% and a return on equity of 14.68%. The business had revenue of $889.27 million for the quarter, compared to analyst estimates of $886.60 million. During the same quarter last year, the business earned $0.63 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis.

Hedge Funds Weigh In On Generac

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empirical Finance LLC raised its holdings in Generac by 4.5% in the first quarter. Empirical Finance LLC now owns 1,748 shares of the technology company’s stock worth $220,000 after purchasing an additional 75 shares during the period. Texas Permanent School Fund Corp raised its stake in Generac by 2.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 12,690 shares of the technology company’s stock worth $1,601,000 after buying an additional 287 shares during the period. DAVENPORT & Co LLC lifted its holdings in Generac by 831.1% during the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock worth $30,288,000 after acquiring an additional 214,322 shares in the last quarter. Wellington Shields & Co. LLC grew its stake in Generac by 8.3% in the first quarter. Wellington Shields & Co. LLC now owns 7,165 shares of the technology company’s stock valued at $904,000 after acquiring an additional 550 shares during the period. Finally, CapWealth Advisors LLC increased its holdings in shares of Generac by 165.6% in the first quarter. CapWealth Advisors LLC now owns 46,148 shares of the technology company’s stock worth $5,821,000 after acquiring an additional 28,774 shares in the last quarter. 84.04% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $139.95, for a total value of $699,750.00. Following the completion of the sale, the chief executive officer now owns 587,177 shares of the company’s stock, valued at $82,175,421.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.80% of the company’s stock.

About Generac

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.