Generac (NYSE:GNRC) Upgraded at StockNews.com

StockNews.com upgraded shares of Generac (NYSE:GNRC) from a hold rating to a buy rating in a report issued on Thursday morning.

GNRC has been the topic of a number of other reports. JPMorgan Chase & Co. increased their price objective on Generac from $149.00 to $155.00 and gave the company a neutral rating in a report on Tuesday, July 16th. Truist Financial raised their price target on shares of Generac from $160.00 to $170.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. TD Cowen upped their price objective on shares of Generac from $144.00 to $172.00 and gave the company a buy rating in a report on Thursday. Northland Securities raised their target price on shares of Generac from $160.00 to $180.00 and gave the stock an outperform rating in a report on Thursday. Finally, The Goldman Sachs Group upped their price target on shares of Generac from $129.00 to $148.00 and gave the company a buy rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $153.52.

Generac Stock Down 1.8 %

Shares of GNRC stock opened at $142.87 on Thursday. The stock’s fifty day moving average price is $144.91 and its 200 day moving average price is $132.44. Generac has a 1-year low of $79.86 and a 1-year high of $169.57. The company has a market cap of $8.66 billion, a price-to-earnings ratio of 39.36, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.97.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. The business had revenue of $998.20 million for the quarter, compared to analyst estimates of $1 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. The company’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.08 earnings per share. On average, research analysts expect that Generac will post 6.3 earnings per share for the current fiscal year.

Insider Activity at Generac

In related news, Director Nam Tran Nguyen sold 546 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $140.55, for a total transaction of $76,740.30. Following the completion of the sale, the director now directly owns 3,512 shares in the company, valued at $493,611.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Nam Tran Nguyen sold 546 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $140.55, for a total transaction of $76,740.30. Following the transaction, the director now directly owns 3,512 shares in the company, valued at $493,611.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick John Forsythe sold 65,855 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $145.80, for a total transaction of $9,601,659.00. Following the completion of the sale, the insider now owns 19,815 shares of the company’s stock, valued at approximately $2,889,027. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,785 shares of company stock valued at $11,020,661. 2.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Generac

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GNRC. National Bank of Canada FI boosted its holdings in Generac by 80.4% in the 2nd quarter. National Bank of Canada FI now owns 30,918 shares of the technology company’s stock valued at $4,118,000 after purchasing an additional 13,784 shares during the last quarter. First Dallas Securities Inc. acquired a new position in Generac in the second quarter valued at approximately $3,177,000. TD Asset Management Inc grew its position in Generac by 3.5% in the second quarter. TD Asset Management Inc now owns 11,478 shares of the technology company’s stock worth $1,518,000 after acquiring an additional 390 shares during the period. Belpointe Asset Management LLC acquired a new stake in Generac during the second quarter worth $796,000. Finally, Larson Financial Group LLC raised its position in Generac by 22,727.3% in the second quarter. Larson Financial Group LLC now owns 2,511 shares of the technology company’s stock valued at $332,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

About Generac

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.