Generac Holdings Inc. Expected to Earn Q2 2024 Earnings of $1.22 Per Share (NYSE:GNRC)

Generac Holdings Inc. (NYSE:GNRC) – Stock analysts at William Blair lowered their Q2 2024 earnings per share (EPS) estimates for Generac in a report released on Wednesday, May 1st. William Blair analyst B. Drab now expects that the technology company will earn $1.22 per share for the quarter, down from their previous estimate of $1.34. The consensus estimate for Generac’s current full-year earnings is $6.09 per share. William Blair also issued estimates for Generac’s FY2024 earnings at $6.25 EPS and FY2025 earnings at $7.61 EPS.

GNRC has been the topic of several other reports. TD Cowen reduced their target price on Generac from $165.00 to $144.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. UBS Group cut their price objective on Generac from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, February 15th. Guggenheim lowered Generac from a “buy” rating to a “neutral” rating in a research report on Thursday, February 15th. Canaccord Genuity Group raised their target price on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Finally, Roth Mkm upped their price target on shares of Generac from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.40.

Generac Trading Up 3.7 %

Shares of NYSE GNRC opened at $133.38 on Friday. The company has a quick ratio of 0.94, a current ratio of 2.29 and a debt-to-equity ratio of 0.61. Generac has a twelve month low of $79.86 and a twelve month high of $156.95. The company’s fifty day moving average is $124.48 and its 200-day moving average is $118.20. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 36.74, a P/E/G ratio of 1.76 and a beta of 1.41.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. The business had revenue of $889.27 million for the quarter, compared to the consensus estimate of $886.60 million. Generac had a net margin of 5.68% and a return on equity of 14.68%. Generac’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS.

Insider Buying and Selling at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $139.95, for a total transaction of $699,750.00. Following the completion of the transaction, the chief executive officer now owns 587,177 shares in the company, valued at $82,175,421.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Generac

Large investors have recently added to or reduced their stakes in the business. DAVENPORT & Co LLC increased its holdings in shares of Generac by 831.1% in the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock valued at $30,288,000 after purchasing an additional 214,322 shares during the last quarter. Wellington Shields & Co. LLC grew its stake in Generac by 8.3% in the 1st quarter. Wellington Shields & Co. LLC now owns 7,165 shares of the technology company’s stock valued at $904,000 after buying an additional 550 shares during the last quarter. CapWealth Advisors LLC grew its stake in Generac by 165.6% in the 1st quarter. CapWealth Advisors LLC now owns 46,148 shares of the technology company’s stock valued at $5,821,000 after buying an additional 28,774 shares during the last quarter. Nicollet Investment Management Inc. bought a new position in Generac in the 1st quarter valued at about $1,001,000. Finally, Smith Salley Wealth Management lifted its position in Generac by 8.2% during the first quarter. Smith Salley Wealth Management now owns 4,200 shares of the technology company’s stock worth $530,000 after acquiring an additional 318 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.

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.