Generac (NYSE:GNRC) Reaches New 52-Week High – Here’s What Happened

Generac Holdings Inc. (NYSE:GNRC)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $191.02 and last traded at $190.27, with a volume of 56545 shares traded. The stock had previously closed at $189.35.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Roth Mkm boosted their target price on shares of Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Scotiabank increased their price objective on Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a report on Monday, July 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $175.00 price target (up previously from $145.00) on shares of Generac in a research report on Thursday, August 1st. Piper Sandler lifted their price objective on Generac from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Stephens reissued an “overweight” rating and set a $200.00 target price on shares of Generac in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.10.

Generac Stock Performance

The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.96 and a current ratio of 2.03. The company’s 50 day moving average price is $161.47 and its 200-day moving average price is $150.85. The stock has a market cap of $11.32 billion, a P/E ratio of 39.49, a price-to-earnings-growth ratio of 2.39 and a beta of 1.37.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating the consensus estimate of $1.98 by $0.27. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $1.64 EPS. Equities analysts forecast that Generac Holdings Inc. will post 6.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the sale, the executive vice president now owns 10,738 shares in the company, valued at $1,971,282.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total transaction of $794,650.00. Following the sale, the chief executive officer now directly owns 562,177 shares in the company, valued at approximately $89,346,790.61. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of Generac stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the transaction, the executive vice president now owns 10,738 shares of the company’s stock, valued at $1,971,282.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,268 shares of company stock valued at $7,584,853. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Generac

Hedge funds have recently made changes to their positions in the stock. Capital World Investors increased its position in shares of Generac by 2.1% during the first quarter. Capital World Investors now owns 1,230,434 shares of the technology company’s stock valued at $155,207,000 after buying an additional 25,646 shares during the period. William Blair Investment Management LLC purchased a new stake in Generac in the 2nd quarter worth approximately $98,282,000. Dimensional Fund Advisors LP grew its position in shares of Generac by 5.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 702,811 shares of the technology company’s stock valued at $92,941,000 after purchasing an additional 35,026 shares in the last quarter. Ninety One UK Ltd raised its holdings in shares of Generac by 0.7% in the 2nd quarter. Ninety One UK Ltd now owns 519,741 shares of the technology company’s stock valued at $68,720,000 after acquiring an additional 3,849 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of Generac by 29.2% during the second quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after purchasing an additional 103,439 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

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.