Generac (NYSE:GNRC) Sets New 12-Month High on Analyst Upgrade

Generac Holdings Inc. (NYSE:GNRC) hit a new 52-week high during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $160.00 to $178.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Generac traded as high as $176.14 and last traded at $171.91, with a volume of 80968 shares. The stock had previously closed at $174.21.

GNRC has been the topic of a number of other reports. StockNews.com lowered Generac from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Robert W. Baird upped their price target on shares of Generac from $142.00 to $163.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Canaccord Genuity Group boosted their price objective on shares of Generac from $177.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Scotiabank increased their target price on shares of Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $175.00 price target (up from $145.00) on shares of Generac in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Generac presently has an average rating of “Hold” and an average target price of $158.43.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Generac

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sunbelt Securities Inc. increased its holdings in shares of Generac by 97.1% during 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 in the last quarter. EntryPoint Capital LLC raised its stake in shares of Generac by 73.2% in the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock worth $27,000 after purchasing an additional 90 shares during the last quarter. Capital Advisors Ltd. LLC lifted its holdings in shares of Generac by 611.1% during 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 in the last quarter. Fairfield Financial Advisors LTD purchased a new stake in shares of Generac during the second quarter valued at $38,000. Finally, ORG Partners LLC purchased a new position in Generac in the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Price Performance

The stock has a market capitalization of $10.39 billion, a PE ratio of 47.36, a price-to-earnings-growth 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. The firm has a 50 day moving average price of $152.91 and a 200 day moving average price of $145.44.

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