Generac Holdings Inc. (NYSE:GNRC) Sees Large Increase in Short Interest

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Generac Holdings Inc. (NYSE:GNRC) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 2,543,200 shares, an increase of 7.7% from the May 30th total of 2,361,700 shares. Based on an average daily trading volume, of 396,700 shares, the short-interest ratio is presently 6.4 days. Approximately 4.2% of the company’s stock are sold short.

Shares of Generac stock traded up $0.35 during mid-day trading on Tuesday, hitting $71.86. 662 shares of the stock were exchanged, compared to its average volume of 478,196. Generac has a 12 month low of $45.43 and a 12 month high of $71.63. The firm’s 50-day moving average is $65.18. The company has a quick ratio of 0.92, a current ratio of 2.06 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $4.39 billion, a P/E ratio of 15.22, a P/E/G ratio of 2.32 and a beta of 1.26.

Generac (NYSE:GNRC) last posted its earnings results on Thursday, May 2nd. The technology company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $450.73 million. During the same quarter last year, the firm earned $0.74 EPS. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, research analysts predict that Generac will post 4.68 EPS for the current fiscal year.

In related news, CEO Aaron Jagdfeld sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $54.92, for a total value of $1,098,400.00. Following the transaction, the chief executive officer now owns 699,943 shares of the company’s stock, valued at approximately $38,440,869.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 2.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of GNRC. LPL Financial LLC lifted its position in shares of Generac by 48.9% during the 4th quarter. LPL Financial LLC now owns 12,260 shares of the technology company’s stock worth $609,000 after buying an additional 4,027 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Generac by 7.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 6,085 shares of the technology company’s stock worth $302,000 after purchasing an additional 438 shares during the period. Advisor Group Inc. raised its holdings in shares of Generac by 386.2% in the 4th quarter. Advisor Group Inc. now owns 7,035 shares of the technology company’s stock worth $351,000 after purchasing an additional 5,588 shares during the period. Great West Life Assurance Co. Can raised its holdings in shares of Generac by 19.9% in the 4th quarter. Great West Life Assurance Co. Can now owns 7,510 shares of the technology company’s stock worth $360,000 after purchasing an additional 1,248 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Generac by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,647,288 shares of the technology company’s stock worth $81,870,000 after purchasing an additional 33,794 shares during the period. 94.29% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on GNRC shares. Bank of America set a $420.00 price target on shares of Boeing and gave the company a “hold” rating in a research report on Thursday, June 27th. Zacks Investment Research cut shares of Haynes International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Northcoast Research reaffirmed a “buy” rating on shares of WESCO International in a research report on Friday, May 3rd. Robert W. Baird raised shares of Generac from a “neutral” rating to an “outperform” rating and raised their price target for the company from $64.00 to $86.00 in a research report on Monday, July 1st. Finally, ValuEngine raised shares of Xylem from a “hold” rating to a “buy” rating in a research report on Friday, June 21st. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $66.50.

Generac Company Profile

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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