Generac (NYSE:GNRC) Sets New 52-Week High on Analyst Upgrade

Generac Holdings Inc. (NYSE:GNRC)’s share price reached a new 52-week high 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 traded. The stock had previously closed at $174.21.

GNRC has been the subject of a number of other research reports. Canaccord Genuity Group boosted their price objective on Generac from $177.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus reissued a “buy” rating and set a $175.00 target price (up previously from $145.00) on shares of Generac in a research report on Thursday, August 1st. Northland Securities lifted their price target on shares of Generac from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Stephens reissued an “overweight” rating and issued a $200.00 price objective on shares of Generac in a research report on Monday, August 5th. Finally, Truist Financial upped their target price on Generac from $170.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday. Two 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $158.43.

Insider Transactions at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 562,177 shares of the company’s stock, 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 SEC, which can be accessed through this link. Insiders own 2.80% of the company’s stock.

Hedge Funds Weigh In On Generac

Several large investors have recently modified their holdings of GNRC. EntryPoint Capital LLC raised its holdings in Generac by 73.2% in the 1st quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after buying an additional 90 shares during the period. Sunbelt Securities Inc. increased its position 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 during the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of Generac by 611.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock valued at $34,000 after acquiring an additional 220 shares during the period. Fairfield Financial Advisors LTD acquired a new position in shares of Generac in the 2nd quarter worth approximately $38,000. Finally, ORG Partners LLC acquired a new stake in Generac in the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Stock Down 1.6 %

The company has a debt-to-equity ratio of 0.61, a current ratio of 2.25 and a quick ratio of 0.99. The business has a 50 day simple moving average of $152.91 and a 200 day simple moving average of $145.44. The company has a market capitalization of $10.39 billion, a price-to-earnings ratio of 47.36, a PEG ratio of 2.22 and a beta of 1.38.

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

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.