Generac (NYSE:GNRC) Hits New 1-Year High – Here’s Why

Shares of Generac Holdings Inc. (NYSE:GNRC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $296.00 and last traded at $293.1860, with a volume of 205683 shares. The stock had previously closed at $279.15.

Analysts Set New Price Targets

GNRC has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $275.00 price objective on Generac in a research note on Thursday, April 30th. Stephens reissued an “overweight” rating and set a $290.00 target price on shares of Generac in a research note on Thursday, May 21st. Needham & Company LLC reissued a “buy” rating on shares of Generac in a report on Tuesday, June 2nd. Weiss Ratings lowered shares of Generac from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. Finally, Wells Fargo & Company lifted their price objective on shares of Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $278.65.

Generac Trading Down 7.1%

The stock has a market cap of $16.16 billion, a P/E ratio of 86.07, a P/E/G ratio of 2.77 and a beta of 1.93. 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’s fifty day moving average is $254.57 and its 200 day moving average is $208.06.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.47. Generac had a return on equity of 15.45% and a net margin of 4.37%.The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm posted $1.26 earnings per share. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. As a group, equities research analysts predict that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the sale, the chief executive officer owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $272.26, for a total transaction of $149,743.00. Following the transaction, the insider directly owned 16,108 shares of the company’s stock, valued at approximately $4,385,564.08. This represents a 3.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.40% of the company’s stock.

Institutional Trading of Generac

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MUFG Securities EMEA plc bought a new position in shares of Generac during the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Generac in the third quarter worth approximately $26,000. Avalon Trust Co bought a new stake in shares of Generac during the 1st quarter worth approximately $32,000. Essential Partners LLC boosted its holdings in Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after acquiring an additional 61 shares during the period. Finally, GHP Investment Advisors Inc. purchased a new position in Generac during the 1st quarter valued at $36,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

About Generac

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.