Generac (NYSE:GNRC) Sets New 12-Month High – Here’s What Happened

Generac Holdings Inc. (NYSE:GNRC) hit a new 52-week high during trading on Tuesday . The stock traded as high as $278.48 and last traded at $278.48, with a volume of 128669 shares. The stock had previously closed at $270.14.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Jefferies Financial Group raised shares of Generac from a “hold” rating to a “buy” rating and lifted their target price for the stock from $239.00 to $302.00 in a research note on Friday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Generac in a research note on Tuesday, May 19th. Stephens reaffirmed an “overweight” rating and issued a $290.00 target price on shares of Generac in a research note on Thursday, May 21st. Canaccord Genuity Group lifted their target price on shares of Generac from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Robert W. Baird set a $311.00 target price on shares of Generac in a research note on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and an average target price of $276.88.

Generac Trading Up 2.0%

The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The firm’s 50 day moving average is $224.11 and its 200 day moving average is $190.20. The company has a market capitalization of $16.23 billion, a PE ratio of 86.40, a P/E/G ratio of 2.53 and a beta of 1.93.

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

Insider Transactions at Generac

In other Generac news, CFO York A. Ragen sold 24,362 shares of the business’s 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 directly owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GNRC. Invesco Ltd. increased its position in Generac by 49.9% during the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after purchasing an additional 806,430 shares during the period. Diamant Asset Management Inc. increased its position in Generac by 19,433.0% during the 1st quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company’s stock valued at $130,104,000 after purchasing an additional 662,665 shares during the period. Bank of Montreal Can increased its position in Generac by 1,141.1% during the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock valued at $94,859,000 after purchasing an additional 639,551 shares during the period. Massachusetts Financial Services Co. MA increased its position in Generac by 127.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock valued at $130,825,000 after purchasing an additional 536,732 shares during the period. Finally, Norges Bank purchased a new position in Generac during the 4th quarter valued at $68,590,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

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.