Generac (NYSE:GNRC) Sets New 52-Week High at $65.99

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Generac Holdings Inc. (NYSE:GNRC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $65.99 and last traded at $65.79, with a volume of 17905 shares traded. The stock had previously closed at $64.26.

GNRC has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Generac from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Friday, May 3rd. Northcoast Research upgraded shares of Generac from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Friday, May 3rd. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $60.43.

The stock has a market capitalization of $4.03 billion, a PE ratio of 13.91, a P/E/G ratio of 2.13 and a beta of 1.09. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.92 and a current ratio of 2.06.

Generac (NYSE:GNRC) last announced its earnings results on Thursday, May 2nd. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.14. Generac had a net margin of 11.84% and a return on equity of 41.59%. The firm had revenue of $470.35 million for the quarter, compared to analyst estimates of $450.73 million. During the same quarter last year, the business earned $0.74 earnings per share. Generac’s revenue was up 17.6% compared to the same quarter last year. As a group, research analysts forecast that Generac Holdings Inc. will post 4.67 earnings per share for the current fiscal year.

In related news, CEO Aaron Jagdfeld sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $52.00, for a total transaction of $1,040,000.00. Following the sale, the chief executive officer now owns 719,243 shares in the company, valued at $37,400,636. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 60,000 shares of company stock worth $3,255,600. 2.70% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Enlightenment Research LLC acquired a new position in shares of Generac in the 4th quarter valued at $25,000. Exane Derivatives acquired a new position in shares of Generac in the 1st quarter valued at $36,000. Zions Bancorporation N.A. acquired a new position in shares of Generac in the 1st quarter valued at $39,000. Murphy Pohlad Asset Management LLC acquired a new position in shares of Generac in the 4th quarter valued at $49,000. Finally, Quadrant Capital Group LLC acquired a new position in shares of Generac in the 1st quarter valued at $52,000. Institutional investors own 94.32% of the company’s stock.

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About Generac (NYSE:GNRC)

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power 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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