Generac (NYSE:GNRC) Upgraded to “Strong-Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Generac (NYSE:GNRC) from a hold rating to a strong-buy rating in a report issued on Saturday.

Several other research firms have also recently commented on GNRC. Guggenheim restated a “neutral” rating and set a $202.00 price target on shares of Generac in a report on Tuesday, February 10th. Zacks Research upgraded shares of Generac from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Argus raised their price target on Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Canaccord Genuity Group lifted their price target on Generac from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Stephens reissued an “overweight” rating and issued a $290.00 price target on shares of Generac in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.31.

Generac Stock Performance

GNRC stock opened at $268.88 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. The stock has a market cap of $15.83 billion, a P/E ratio of 84.29, a P/E/G ratio of 2.52 and a beta of 1.93. The firm has a 50 day simple moving average of $213.65 and a 200 day simple moving average of $183.31. Generac has a 52 week low of $118.09 and a 52 week high of $272.40.

Generac (NYSE:GNRC) last posted its quarterly 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 business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the company posted $1.26 earnings per share. Research analysts anticipate that Generac will post 8.91 earnings per share for the current fiscal year.

Insider Activity at Generac

In other news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the transaction, the chief financial officer owned 137,182 shares in the company, valued at $32,321,451.02. This represents a 15.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Generac

A number of institutional investors have recently modified their holdings of GNRC. MUFG Securities EMEA plc bought a new position in shares of Generac in the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Generac in the third quarter valued at approximately $26,000. First Horizon Corp bought a new position in shares of Generac in the third quarter valued at approximately $28,000. Sentry Investment Management LLC raised its position in shares of Generac by 69.8% in the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after purchasing an additional 67 shares during the period. Finally, Avalon Trust Co bought a new position in shares of Generac in the first quarter valued at approximately $32,000. Institutional investors own 84.04% of the company’s stock.

Generac Company Profile

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.