Bank of America reiterated their buy rating on shares of Generac (NYSE:GNRC) in a research report sent to investors on Monday morning, AnalystRatings.com reports. The brokerage currently has a $88.00 price target on the technology company’s stock.
Several other research firms have also commented on GNRC. Zacks Investment Research lowered Generac from a buy rating to a hold rating in a report on Wednesday, September 11th. Canaccord Genuity boosted their price objective on Generac from $74.00 to $80.00 and gave the stock a hold rating in a research report on Friday, September 6th. ValuEngine downgraded Generac from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Robert W. Baird upgraded Generac from a neutral rating to an outperform rating and boosted their price objective for the stock from $64.00 to $86.00 in a research report on Monday, July 1st. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Generac presently has a consensus rating of Hold and a consensus price target of $83.20.
NYSE:GNRC opened at $81.33 on Monday. The firm has a market capitalization of $5.09 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 2.67 and a beta of 1.18. The stock has a 50 day moving average of $75.95 and a 200-day moving average of $63.68. Generac has a 52 week low of $45.43 and a 52 week high of $84.86. The company has a current ratio of 2.19, a quick ratio of 1.00 and a debt-to-equity ratio of 1.18.
Generac (NYSE:GNRC) last posted its earnings results on Thursday, August 1st. The technology company reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.12. The company had revenue of $541.90 million during the quarter, compared to analyst estimates of $538.96 million. Generac had a return on equity of 38.99% and a net margin of 12.09%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 earnings per share. As a group, analysts predict that Generac will post 4.8 EPS for the current fiscal year.
In other news, EVP Erik Wilde sold 7,587 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $71.44, for a total transaction of $542,015.28. Following the completion of the transaction, the executive vice president now directly owns 11,196 shares in the company, valued at $799,842.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Russell S. Minick sold 10,328 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $73.91, for a total value of $763,342.48. Following the transaction, the insider now owns 24,743 shares of the company’s stock, valued at $1,828,755.13. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zions Bancorporation N.A. acquired a new stake in Generac in the first quarter worth approximately $39,000. Stonebridge Capital Advisors LLC acquired a new stake in Generac in the second quarter worth approximately $69,000. Steward Partners Investment Advisory LLC acquired a new stake in Generac in the second quarter worth approximately $76,000. Tower Research Capital LLC TRC acquired a new stake in Generac in the second quarter worth approximately $98,000. Finally, Factorial Partners LLC acquired a new stake in Generac in the second quarter worth approximately $167,000. Hedge funds and other institutional investors own 95.56% of the company’s stock.
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power 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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