Generac (NYSE:GNRC) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Generac (NYSE:GNRC) from a buy rating to a hold rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “Generac Holdings Inc. is a manufacturer of backup power generation products serving residential, light commercial and industrial markets. The Company designs, engineers, manufactures, and markets a range of automatic, stationary standby, and portable generators. Generac’s power systems range in output from 800 watts to 9 megawatts and are available through a broad network of independent and industrial dealers, retailers and wholesalers. The Company offers generators fueled by natural gas, liquid propane, gasoline, diesel, and Bi-Fuel. It also provides air-cooled engines. In addition, Generac designs, manufactures, sources and modifies engines, alternators, automatic transfer switches and other components necessary for its products. The Company’s generators are fueled by natural gas, liquid propane, gasoline, diesel and Bi-Fuel (combined diesel and natural gas). Generac Holdings Inc. is headquartered in Waukesha, Wisconsin. “

Other research analysts have also issued reports about the stock. Robert W. Baird upgraded shares of Generac from a neutral rating to an outperform rating and boosted their price target for the company from $64.00 to $86.00 in a research report on Monday, July 1st. Bank of America reduced their price target on shares of Generac from $88.00 to $83.00 and set a buy rating for the company in a research report on Thursday, September 5th. ValuEngine lowered shares of Generac from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Canaccord Genuity boosted their price target on shares of Generac from $74.00 to $80.00 and gave the company a hold rating in a research report on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $78.67.



Generac stock traded down $0.13 during mid-day trading on Wednesday, reaching $82.89. The company’s stock had a trading volume of 1,003,179 shares, compared to its average volume of 438,132. Generac has a 12-month low of $45.43 and a 12-month high of $84.86. The company has a market capitalization of $5.17 billion, a P/E ratio of 17.64, a PEG ratio of 2.59 and a beta of 1.19. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.00 and a current ratio of 2.19. The firm’s fifty day moving average price is $74.81 and its two-hundred day moving average price is $62.77.

Generac (NYSE:GNRC) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.12. Generac had a net margin of 12.09% and a return on equity of 38.99%. The business had revenue of $541.90 million during the quarter, compared to analyst estimates of $538.96 million. During the same period in the previous year, the business earned $1.11 EPS. Generac’s revenue was up 8.9% compared to the same quarter last year. On average, research analysts predict that Generac will post 4.8 EPS for the current fiscal year.

In other news, EVP Erik Wilde sold 7,587 shares of Generac stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $71.44, for a total transaction of $542,015.28. Following the completion of the sale, the executive vice president now directly owns 11,196 shares of the company’s stock, valued at approximately $799,842.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Russell S. Minick sold 10,328 shares of Generac stock in a transaction on Friday, August 16th. The stock was sold at an average price of $73.91, for a total transaction of $763,342.48. Following the sale, the insider now directly owns 24,743 shares of the company’s stock, valued at $1,828,755.13. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of GNRC. JPMorgan Chase & Co. lifted its holdings in shares of Generac by 48.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,962,407 shares of the technology company’s stock worth $206,688,000 after acquiring an additional 969,451 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Generac during the 2nd quarter worth $51,217,000. Invesco Ltd. lifted its holdings in shares of Generac by 601.6% during the 2nd quarter. Invesco Ltd. now owns 589,050 shares of the technology company’s stock worth $40,887,000 after acquiring an additional 505,093 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Generac during the 2nd quarter worth $31,671,000. Finally, Impax Asset Management Group plc lifted its holdings in shares of Generac by 31.8% during the 2nd quarter. Impax Asset Management Group plc now owns 1,352,289 shares of the technology company’s stock worth $93,862,000 after acquiring an additional 326,138 shares during the last quarter. 96.54% of the stock is owned by institutional investors.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.

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