Generac Holdings Inc. (NYSE:GNRC) Short Interest Up 6.6% in September

Generac Holdings Inc. (NYSE:GNRC) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 2,760,000 shares, a growth of 6.6% from the September 15th total of 2,590,000 shares. Based on an average daily volume of 898,800 shares, the short-interest ratio is currently 3.1 days. Approximately 4.7% of the shares of the stock are short sold.

Insider Transactions at Generac

In other 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.80% of the stock is owned by company insiders.

Institutional Trading of Generac

Large investors have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. lifted its stake in Generac by 97.1% in the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. EntryPoint Capital LLC raised its position in shares of Generac by 73.2% in the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after purchasing an additional 90 shares during the period. Capital Advisors Ltd. LLC raised its position in shares of Generac by 611.1% in the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock valued at $34,000 after purchasing an additional 220 shares during the period. Fairfield Financial Advisors LTD bought a new position in shares of Generac in the second quarter valued at about $38,000. Finally, Quarry LP raised its position in shares of Generac by 219.6% in the fourth quarter. Quarry LP now owns 294 shares of the technology company’s stock valued at $38,000 after purchasing an additional 202 shares during the period. Institutional investors and hedge funds own 84.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GNRC shares. The Goldman Sachs Group boosted their price target on shares of Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Roth Mkm boosted their price target on shares of Generac from $135.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Piper Sandler boosted their price target on shares of Generac from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday. Stephens reaffirmed an “overweight” rating and issued a $200.00 target price on shares of Generac in a research note on Monday, August 5th. Finally, StockNews.com downgraded shares of Generac from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $158.43.

Generac Stock Performance

Shares of GNRC opened at $168.39 on Friday. Generac has a 12 month low of $79.86 and a 12 month high of $176.14. The firm has a fifty day simple moving average of $153.45 and a 200 day simple moving average of $145.60. The stock has a market capitalization of $10.21 billion, a price-to-earnings ratio of 46.39, a PEG ratio of 2.22 and a beta of 1.38. The company has a current ratio of 2.25, a quick ratio of 0.99 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.15. The firm had revenue of $998.20 million during the quarter, compared to analysts’ expectations of $1 billion. Generac had a net margin of 6.03% and a return on equity of 15.35%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the company posted $1.08 earnings per share. Research analysts forecast that Generac will post 6.47 EPS for the current fiscal year.

Generac Company Profile

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.