Generac (NYSE:GNRC) Downgraded to “Positive” at OTR Global

OTR Global cut shares of Generac (NYSE:GNRC) to a positive rating in a research note published on Friday morning, The Fly reports.

Several other analysts have also issued reports on GNRC. Truist Securities started coverage on Generac in a research note on Friday, October 15th. They issued a buy rating and a $500.00 target price for the company. Bank of America upgraded Generac from a neutral rating to a buy rating and set a $475.00 target price for the company in a report on Thursday, December 16th. Credit Suisse Group increased their price objective on Generac from $513.00 to $527.00 and gave the stock an outperform rating in a report on Wednesday, November 3rd. Robert W. Baird cut their target price on Generac from $561.00 to $471.00 and set an outperform rating on the stock in a research note on Tuesday, December 7th. Finally, KeyCorp dropped their price objective on Generac from $540.00 to $500.00 and set an overweight rating on the stock in a research report on Friday, December 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, Generac has an average rating of Buy and a consensus price target of $459.10.

GNRC opened at $306.28 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.89 and a quick ratio of 0.97. The company has a market capitalization of $19.32 billion, a price-to-earnings ratio of 37.17, a P/E/G ratio of 1.99 and a beta of 0.96. The firm’s fifty day moving average price is $377.29 and its two-hundred day moving average price is $414.25. Generac has a 1 year low of $243.21 and a 1 year high of $524.31.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Tuesday, November 2nd. The technology company reported $2.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.39 by ($0.04). Generac had a net margin of 15.52% and a return on equity of 37.32%. The firm had revenue of $942.70 million during the quarter, compared to the consensus estimate of $961.13 million. During the same quarter in the prior year, the firm posted $2.08 earnings per share. The company’s revenue was up 34.2% on a year-over-year basis. As a group, equities analysts anticipate that Generac will post 9.53 EPS for the current year.

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Wednesday, December 1st. The stock was sold at an average price of $422.88, for a total value of $2,114,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO York A. Ragen sold 10,000 shares of the stock in a transaction that occurred on Thursday, November 11th. The shares were sold at an average price of $442.63, for a total value of $4,426,300.00. The disclosure for this sale can be found here. Insiders sold a total of 20,000 shares of company stock valued at $9,025,450 in the last ninety days. 2.80% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the stock. Kentucky Retirement Systems purchased a new position in Generac in the second quarter worth approximately $1,522,000. Sigma Planning Corp boosted its holdings in Generac by 8.2% in the second quarter. Sigma Planning Corp now owns 6,994 shares of the technology company’s stock valued at $2,904,000 after purchasing an additional 532 shares during the period. ProShare Advisors LLC boosted its holdings in Generac by 10.5% in the second quarter. ProShare Advisors LLC now owns 9,022 shares of the technology company’s stock valued at $3,745,000 after purchasing an additional 857 shares during the period. Royal Bank of Canada raised its stake in Generac by 15.5% in the second quarter. Royal Bank of Canada now owns 167,599 shares of the technology company’s stock valued at $69,577,000 after buying an additional 22,529 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Generac by 1.4% in the second quarter. Thrivent Financial for Lutherans now owns 83,394 shares of the technology company’s stock valued at $34,621,000 after buying an additional 1,181 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

Generac Company Profile

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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