Generac (GNRC) Lifted to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Generac (NYSE:GNRC) from a hold rating to a buy rating in a report issued on Wednesday morning. Zacks Investment Research currently has $58.00 price objective on the technology company’s stock.

According to Zacks, “Generac Holdings Inc. is a manufacturer of backup power generation products serving residential, light commercial and industrial markets. The Company designs, engineers, manufactures, and markets a range of automatic, stationary standby, and portable generators. Generac’s power systems range in output from 800 watts to 9 megawatts and are available through a broad network of independent and industrial dealers, retailers and wholesalers. The Company offers generators fueled by natural gas, liquid propane, gasoline, diesel, and Bi-Fuel. It also provides air-cooled engines. In addition, Generac designs, manufactures, sources and modifies engines, alternators, automatic transfer switches and other components necessary for its products. The Company’s generators are fueled by natural gas, liquid propane, gasoline, diesel and Bi-Fuel (combined diesel and natural gas). Generac Holdings Inc. is headquartered in Waukesha, Wisconsin. “

GNRC has been the subject of a number of other reports. ValuEngine lowered Generac from a hold rating to a sell rating in a report on Friday, November 2nd. Canaccord Genuity lifted their target price on Generac from $58.00 to $62.00 and gave the company a hold rating in a report on Tuesday, September 11th. KeyCorp raised their price target on Generac from $60.00 to $62.00 and gave the company an overweight rating in a research note on Thursday, September 13th. Robert W. Baird raised their price target on Generac from $58.00 to $60.00 and gave the company a neutral rating in a research note on Friday, November 2nd. Finally, Goldman Sachs Group upgraded Generac from a sell rating to a neutral rating in a research note on Thursday, October 18th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Generac currently has a consensus rating of Hold and a consensus target price of $56.48.

GNRC opened at $53.54 on Wednesday. Generac has a 52 week low of $42.96 and a 52 week high of $60.70. The firm has a market cap of $3.27 billion, a PE ratio of 15.75, a PEG ratio of 1.78 and a beta of 1.34. The company has a quick ratio of 0.98, a current ratio of 1.88 and a debt-to-equity ratio of 1.23.

Generac (NYSE:GNRC) last released its quarterly earnings results on Thursday, November 1st. The technology company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.08 by $0.35. Generac had a return on equity of 47.44% and a net margin of 12.45%. The business had revenue of $559.52 million during the quarter, compared to analyst estimates of $502.94 million. During the same period last year, the business posted $0.92 earnings per share. The company’s quarterly revenue was up 22.7% on a year-over-year basis. Equities research analysts predict that Generac will post 4.66 earnings per share for the current fiscal year.

In other news, CFO York A. Ragen sold 36,000 shares of Generac stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $54.84, for a total transaction of $1,974,240.00. Following the sale, the chief financial officer now owns 185,108 shares in the company, valued at $10,151,322.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Aaron Jagdfeld sold 20,000 shares of Generac stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $56.47, for a total value of $1,129,400.00. Following the sale, the chief executive officer now owns 787,471 shares in the company, valued at approximately $44,468,487.37. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,000 shares of company stock worth $5,131,440. 3.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Csenge Advisory Group acquired a new stake in shares of Generac during the third quarter worth about $38,000. First Hawaiian Bank grew its holdings in shares of Generac by 71.5% during the fourth quarter. First Hawaiian Bank now owns 1,403 shares of the technology company’s stock worth $70,000 after buying an additional 585 shares during the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Generac during the third quarter worth about $100,000. Salem Investment Counselors Inc. purchased a new position in shares of Generac during the third quarter worth about $169,000. Finally, Advisory Services Network LLC purchased a new position in shares of Generac during the third quarter worth about $179,000. Institutional investors and hedge funds own 94.88% of the company’s stock.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other engine powered products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.

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