Generac (NYSE:GNRC) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Generac (NYSE:GNRC) in a research report report published on Wednesday, Marketbeat Ratings reports. The firm issued an overweight rating and a $325.00 target price on the technology company’s stock.

Several other brokerages have also commented on GNRC. Barclays lifted their price target on shares of Generac from $228.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Needham & Company LLC reaffirmed a “buy” rating on shares of Generac in a report on Tuesday, June 2nd. Stifel Nicolaus set a $275.00 target price on Generac in a research report on Thursday, April 30th. Weiss Ratings downgraded Generac from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Finally, Raymond James Financial set a $302.00 target price on Generac in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Generac presently has an average rating of “Moderate Buy” and an average target price of $286.44.

Generac Stock Performance

Shares of Generac stock opened at $202.13 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 2.03 and a debt-to-equity ratio of 0.47. Generac has a 52 week low of $134.80 and a 52 week high of $296.44. The firm’s 50 day moving average is $256.28 and its two-hundred day moving average is $222.70. The firm has a market capitalization of $11.90 billion, a P/E ratio of 63.36, a P/E/G ratio of 1.97 and a beta of 1.89.

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 net margin of 4.37% and a return on equity of 15.45%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm earned $1.26 EPS. The company’s revenue was up 12.5% compared to the same quarter last year. Research analysts forecast that Generac will post 8.91 EPS for the current fiscal year.

Insider Activity

In other Generac news, insider Norman P. Taffe sold 550 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $256.00, for a total transaction of $140,800.00. Following the completion of the sale, the insider directly owned 15,808 shares of the company’s stock, valued at approximately $4,046,848. This trade represents a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $272.18, for a total value of $1,360,900.00. Following the sale, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. The trade was a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,100 shares of company stock worth $1,651,443 in the last 90 days. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Generac

Several large investors have recently modified their holdings of the stock. NewEdge Advisors LLC increased its stake in Generac by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 2,439 shares of the technology company’s stock valued at $309,000 after buying an additional 142 shares during the period. Woodline Partners LP lifted its stake in shares of Generac by 40.9% in the 1st quarter. Woodline Partners LP now owns 5,036 shares of the technology company’s stock worth $638,000 after acquiring an additional 1,463 shares during the period. First Trust Advisors LP boosted its holdings in shares of Generac by 27.6% in the second quarter. First Trust Advisors LP now owns 101,298 shares of the technology company’s stock valued at $14,507,000 after acquiring an additional 21,908 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Generac by 1.6% in the second quarter. Cerity Partners LLC now owns 50,550 shares of the technology company’s stock valued at $7,239,000 after acquiring an additional 816 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in shares of Generac by 8.6% during the second quarter. California Public Employees Retirement System now owns 104,246 shares of the technology company’s stock worth $14,929,000 after acquiring an additional 8,213 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

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.