Generac (NYSE:GNRC) Sets New 12-Month High – Here’s Why

Generac Holdings Inc. (NYSE:GNRC) shares reached a new 52-week high on Monday . The stock traded as high as $272.46 and last traded at $272.4430, with a volume of 106835 shares. The stock had previously closed at $269.41.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GNRC shares. Stifel Nicolaus set a $275.00 price objective on shares of Generac in a research report on Thursday, April 30th. Citigroup upped their price objective on shares of Generac from $226.00 to $263.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Generac in a research report on Thursday, January 22nd. Barclays upped their price objective on shares of Generac from $213.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, March 27th. Finally, Wall Street Zen raised shares of Generac from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $270.31.

Generac Stock Performance

The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. The stock has a market cap of $15.72 billion, a price-to-earnings ratio of 83.71, a P/E/G ratio of 2.52 and a beta of 1.93. The company has a 50 day simple moving average of $216.67 and a 200 day simple moving average of $185.53.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.33 by $0.47. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The business’s quarterly revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 earnings per share. As a group, equities research analysts forecast that Generac Holdings Inc. will post 8.91 EPS for the current year.

Insider Buying and Selling

In other Generac news, CFO York A. Ragen sold 24,362 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the completion of the transaction, the chief financial officer owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. First Trust Advisors LP raised its stake in Generac by 30.7% during the first quarter. First Trust Advisors LP now owns 73,151 shares of the technology company’s stock worth $14,288,000 after acquiring an additional 17,198 shares in the last quarter. Millennium Capital Advisors LLC raised its stake in Generac by 3.6% during the first quarter. Millennium Capital Advisors LLC now owns 2,866 shares of the technology company’s stock worth $560,000 after acquiring an additional 100 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Generac by 8.1% during the first quarter. PNC Financial Services Group Inc. now owns 15,135 shares of the technology company’s stock worth $2,956,000 after acquiring an additional 1,140 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of Generac by 10,475.8% in the first quarter. Meeder Asset Management Inc. now owns 3,490 shares of the technology company’s stock valued at $682,000 after buying an additional 3,457 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Generac by 22.3% in the first quarter. Parallel Advisors LLC now owns 844 shares of the technology company’s stock valued at $165,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.