Generac (NYSE:GNRC) Upgraded at Wall Street Zen

Generac (NYSE:GNRC) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday, Wall Street Zen reports.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group restated a “buy” rating on shares of Generac in a report on Thursday, September 17th. Wells Fargo & Company set a $280.00 price objective on shares of Generac in a research note on Thursday, September 17th. JPMorgan Chase & Co. lifted their target price on shares of Generac from $261.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, September 18th. KeyCorp raised Generac from a “sector weight” rating to an “overweight” rating and set a $280.00 price objective for the company in a research report on Thursday, October 8th. Finally, Canaccord Genuity Group upped their target price on shares of Generac from $275.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Generac presently has an average rating of “Moderate Buy” and an average price target of $290.55.

Generac Stock Down 3.0%

NYSE:GNRC opened at $192.35 on Friday. Generac has a 1-year low of $134.80 and a 1-year high of $296.44. The firm has a market capitalization of $11.35 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 1.70 and a beta of 1.91. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average price is $202.50 and its 200 day moving average price is $226.83.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.90. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.65 earnings per share. On average, sell-side analysts forecast that Generac will post 9.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $206.00, for a total transaction of $1,030,000.00. Following the transaction, the chief executive officer directly owned 544,528 shares in the company, valued at approximately $112,172,768. This represents a 0.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 150 shares of Generac stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $220.00, for a total value of $33,000.00. Following the sale, the insider directly owned 10,976 shares of the company’s stock, valued at approximately $2,414,720. This trade represents a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,442 shares of company stock valued at $3,656,537 in the last 90 days. 2.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. N.E.W. Advisory Services LLC bought a new stake in Generac in the 2nd quarter valued at $25,000. Avalon Trust Co bought a new position in shares of Generac during the 1st quarter worth approximately $32,000. Essential Partners LLC increased its holdings in shares of Generac by 57.0% in the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after purchasing an additional 61 shares during the last quarter. Continuum Advisory LLC acquired a new stake in shares of Generac during the 2nd quarter worth about $51,000. Finally, Fiduciary Financial Advisors bought a new stake in shares of Generac during the 2nd quarter worth about $50,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

About Generac

Generac Holdings Inc is an energy technology company that designs and manufactures power generation equipment, energy storage systems and other products intended to provide backup and distributed energy solutions. Its offerings serve residential, commercial, industrial and other users seeking standby power, portable power or greater control over energy use.

The company’s product portfolio includes home standby generators, portable generators, commercial and industrial generators, mobile power equipment, engines and related transfer switches and controls.