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 research note released on Thursday morning. Zacks Investment Research currently has $60.00 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. “

Several other brokerages also recently weighed in on GNRC. ValuEngine raised Generac from a sell rating to a hold rating in a research note on Friday, November 16th. Goldman Sachs Group raised Generac from a sell rating to a neutral rating in a research note on Thursday, October 18th. Finally, Robert W. Baird lifted their target price on Generac from $58.00 to $60.00 and gave the company a neutral rating in a research note on Friday, November 2nd. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $56.73.

Shares of NYSE GNRC opened at $54.74 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.98 and a current ratio of 1.88. The company has a market capitalization of $3.40 billion, a P/E ratio of 16.10, a P/E/G ratio of 1.85 and a beta of 1.34. Generac has a 12-month low of $42.96 and a 12-month high of $60.70.

Generac (NYSE:GNRC) last announced its earnings results on Thursday, November 1st. The technology company reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.35. The firm had revenue of $559.52 million for the quarter, compared to the consensus estimate of $502.94 million. Generac had a return on equity of 47.44% and a net margin of 12.45%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. On average, research analysts forecast that Generac will post 4.66 earnings per share for the current year.

In related news, CEO Aaron Jagdfeld sold 20,000 shares of Generac stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $50.00, for a total value of $1,000,000.00. Following the transaction, the chief executive officer now directly owns 780,271 shares in the company, valued at approximately $39,013,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO York A. Ragen sold 36,000 shares of Generac stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $54.84, for a total value of $1,974,240.00. Following the completion of the transaction, the chief financial officer now owns 185,108 shares in the company, valued at $10,151,322.72. The disclosure for this sale can be found here. Insiders sold a total of 96,000 shares of company stock worth $5,131,440 in the last three months. Company insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Gagnon Securities LLC grew its holdings in shares of Generac by 1.0% in the 4th quarter. Gagnon Securities LLC now owns 28,978 shares of the technology company’s stock worth $1,440,000 after acquiring an additional 273 shares during the last quarter. Boston Advisors LLC acquired a new position in shares of Generac in the 4th quarter worth $2,637,000. Virtu Financial LLC acquired a new position in shares of Generac in the 4th quarter worth $489,000. First Hawaiian Bank grew its holdings in shares of Generac by 71.5% in the 4th quarter. First Hawaiian Bank now owns 1,403 shares of the technology company’s stock worth $70,000 after acquiring an additional 585 shares during the last quarter. Finally, Csenge Advisory Group acquired a new position in shares of Generac in the 3rd quarter worth $38,000. 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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