Zacks: Brokerages Expect Generac Holdings Inc. (NYSE:GNRC) Will Announce Quarterly Sales of $958.56 Million

Equities analysts expect Generac Holdings Inc. (NYSE:GNRC) to post $958.56 million in sales for the current quarter, Zacks reports. Eight analysts have issued estimates for Generac’s earnings, with the lowest sales estimate coming in at $940.07 million and the highest estimate coming in at $981.47 million. Generac posted sales of $701.36 million during the same quarter last year, which would indicate a positive year over year growth rate of 36.7%. The company is expected to announce its next quarterly earnings results on Wednesday, October 27th.

According to Zacks, analysts expect that Generac will report full-year sales of $3.71 billion for the current year, with estimates ranging from $3.69 billion to $3.74 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $4.39 billion, with estimates ranging from $4.15 billion to $4.67 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Generac.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, July 28th. The technology company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.35 by $0.04. Generac had a return on equity of 39.62% and a net margin of 16.18%. The firm had revenue of $919.98 million for the quarter, compared to the consensus estimate of $872.36 million.

Several research firms have commented on GNRC. Roth Capital increased their price objective on shares of Generac from $430.00 to $480.00 and gave the company a “buy” rating in a report on Wednesday, July 7th. Guggenheim initiated coverage on shares of Generac in a research report on Wednesday, June 2nd. They set a “buy” rating and a $420.00 target price on the stock. Zacks Investment Research lowered shares of Generac from a “buy” rating to a “hold” rating and set a $448.00 price objective on the stock. in a report on Friday, July 9th. Citigroup initiated coverage on shares of Generac in a research note on Friday, June 25th. They set a “buy” rating for the company. Finally, KeyCorp boosted their target price on shares of Generac from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, July 26th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $434.50.

In other news, insider Patrick John Forsythe sold 4,223 shares of Generac stock in a transaction dated Monday, July 12th. The shares were sold at an average price of $450.00, for a total transaction of $1,900,350.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Erik Wilde sold 5,443 shares of Generac stock in a transaction that occurred on Wednesday, June 23rd. The shares were sold at an average price of $400.00, for a total transaction of $2,177,200.00. Following the transaction, the executive vice president now directly owns 16,048 shares in the company, valued at $6,419,200. The disclosure for this sale can be found here. Insiders sold a total of 13,203 shares of company stock worth $5,492,350 over the last ninety days. Insiders own 2.80% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Meridian Wealth Partners LLC bought a new stake in Generac during the first quarter worth approximately $28,000. Berman Capital Advisors LLC increased its stake in shares of Generac by 772.7% in the first quarter. Berman Capital Advisors LLC now owns 96 shares of the technology company’s stock valued at $31,000 after buying an additional 85 shares in the last quarter. Northern Oak Wealth Management Inc. acquired a new stake in Generac in the first quarter worth about $33,000. Optimum Investment Advisors bought a new position in Generac during the second quarter worth about $42,000. Finally, Crewe Advisors LLC bought a new position in shares of Generac during the 2nd quarter valued at about $42,000. Institutional investors own 88.45% of the company’s stock.

GNRC stock opened at $421.17 on Tuesday. The stock’s 50 day simple moving average is $428.85 and its 200 day simple moving average is $369.52. The stock has a market capitalization of $26.58 billion, a PE ratio of 51.80, a price-to-earnings-growth ratio of 6.90 and a beta of 0.89. The company has a current ratio of 2.02, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. Generac has a 12-month low of $173.80 and a 12-month high of $466.92.

About Generac

Generac Holdings, Inc engages in the design and manufacture of power generation equipment and other power products. It operates through the following segments: Domestic and International. The Domestic segment includes the legacy Generac, and the impact of acquisitions that are based in the United States.

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