Generac (NYSE:GNRC) had its target price raised by Canaccord Genuity from $58.00 to $62.00 in a report released on Tuesday morning, MarketBeat.com reports. Canaccord Genuity currently has a hold rating on the technology company’s stock.
Other research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Generac from a hold rating to a buy rating and set a $62.00 price objective for the company in a report on Friday, August 3rd. KeyCorp reissued a buy rating and set a $60.00 price target on shares of Generac in a research report on Wednesday, August 1st. Robert W. Baird reissued a hold rating and set a $54.00 price target on shares of Generac in a research report on Friday, July 20th. Stifel Nicolaus raised their price target on shares of Generac from $52.00 to $56.00 and gave the company a hold rating in a research report on Thursday, August 2nd. Finally, Goldman Sachs Group lowered shares of Generac from a neutral rating to a sell rating and set a $49.00 price target on the stock. in a research report on Monday, July 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $56.23.
Shares of NYSE GNRC opened at $57.66 on Tuesday. The stock has a market cap of $3.60 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 2.17 and a beta of 1.45. Generac has a 1 year low of $42.88 and a 1 year high of $60.70. The company has a quick ratio of 0.94, a current ratio of 1.94 and a debt-to-equity ratio of 1.47.
Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, August 1st. The technology company reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20. The firm had revenue of $494.90 million during the quarter, compared to analysts’ expectations of $448.41 million. Generac had a net margin of 11.18% and a return on equity of 46.62%. The business’s revenue was up 25.3% on a year-over-year basis. During the same period last year, the company earned $0.69 earnings per share. research analysts anticipate that Generac will post 4.11 EPS for the current fiscal year.
In other Generac news, insider Russell S. Minick sold 9,000 shares of Generac stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $54.86, for a total value of $493,740.00. Following the sale, the insider now owns 16,353 shares of the company’s stock, valued at $897,125.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Aaron Jagdfeld sold 20,000 shares of Generac stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $51.34, for a total transaction of $1,026,800.00. Following the completion of the sale, the chief executive officer now directly owns 883,571 shares in the company, valued at approximately $45,362,535.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,000 shares of company stock worth $3,718,740. Insiders own 3.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. increased its stake in shares of Generac by 1.2% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 78,857 shares of the technology company’s stock worth $4,079,000 after purchasing an additional 958 shares in the last quarter. Wellington Shields Capital Management LLC increased its stake in shares of Generac by 15.9% in the second quarter. Wellington Shields Capital Management LLC now owns 7,300 shares of the technology company’s stock worth $378,000 after purchasing an additional 1,000 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Generac by 15.9% in the second quarter. Victory Capital Management Inc. now owns 7,870 shares of the technology company’s stock worth $407,000 after purchasing an additional 1,081 shares in the last quarter. Amalgamated Bank increased its stake in shares of Generac by 13.9% in the second quarter. Amalgamated Bank now owns 9,249 shares of the technology company’s stock worth $478,000 after purchasing an additional 1,130 shares in the last quarter. Finally, Denver Investment Advisors LLC increased its stake in shares of Generac by 6.4% in the first quarter. Denver Investment Advisors LLC now owns 18,985 shares of the technology company’s stock worth $872,000 after purchasing an additional 1,141 shares in the last quarter. 97.82% of the stock is currently owned by institutional investors and hedge funds.
Generac Company Profile
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other engine powered 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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