StockNews.com Lowers Generac (NYSE:GNRC) to Hold

StockNews.com downgraded shares of Generac (NYSE:GNRC) from a buy rating to a hold rating in a research report report published on Tuesday.

GNRC has been the topic of a number of other research reports. Scotiabank raised their price target on Generac from $147.00 to $160.00 and gave the stock a sector perform rating in a research note on Monday, July 29th. Janney Montgomery Scott lowered shares of Generac from a buy rating to a neutral rating and raised their target price for the stock from $126.00 to $154.00 in a research report on Thursday, June 13th. Guggenheim cut shares of Generac from a neutral rating to a sell rating and set a $120.00 target price on the stock. in a report on Thursday, May 30th. Oppenheimer cut shares of Generac from an outperform rating to a market perform rating in a research note on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Generac from $149.00 to $155.00 and gave the company a neutral rating in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $154.71.

Generac Stock Performance

Shares of Generac stock opened at $155.08 on Tuesday. The firm has a market capitalization of $9.40 billion, a P/E ratio of 42.72, a P/E/G ratio of 1.93 and a beta of 1.37. The company has a quick ratio of 0.97, a current ratio of 2.25 and a debt-to-equity ratio of 0.61. Generac has a 52 week low of $79.86 and a 52 week high of $169.57. The firm’s 50 day moving average is $147.60 and its two-hundred day moving average is $136.35.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, topping the consensus estimate of $1.20 by $0.15. Generac had a net margin of 6.03% and a return on equity of 15.35%. The firm had revenue of $998.20 million for the quarter, compared to analyst estimates of $1 billion. During the same period last year, the business earned $1.08 EPS. Generac’s revenue for the quarter was down .2% compared to the same quarter last year. Research analysts forecast that Generac will post 6.3 EPS for the current fiscal year.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $133.39, for a total transaction of $666,950.00. Following the sale, the chief executive officer now owns 577,177 shares of the company’s stock, valued at $76,989,640.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Generac

Several hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in shares of Generac during the 4th quarter worth $17,956,000. Louisiana State Employees Retirement System purchased a new stake in shares of Generac in the fourth quarter valued at about $478,000. GAMMA Investing LLC acquired a new stake in shares of Generac in the fourth quarter valued at approximately $78,000. Atria Wealth Solutions Inc. increased its stake in shares of Generac by 55.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 11,092 shares of the technology company’s stock worth $1,434,000 after purchasing an additional 3,961 shares in the last quarter. Finally, Transcend Capital Advisors LLC raised its position in shares of Generac by 12.1% during the 4th quarter. Transcend Capital Advisors LLC now owns 2,107 shares of the technology company’s stock worth $272,000 after purchasing an additional 228 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

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.