Generac Holdlings Inc. (GNRC) Upgraded at KeyCorp
Generac Holdlings Inc. (NYSE:GNRC) was upgraded by equities researchers at KeyCorp to an “overweight” rating in a research report issued on Monday.
GNRC has been the topic of a number of other research reports. Bank of America Corporation raised shares of Generac Holdlings from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $34.00 to $45.00 in a report on Thursday, September 7th. BidaskClub downgraded shares of Generac Holdlings from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Generac Holdlings in a research note on Friday, September 8th. Canaccord Genuity reissued a “hold” rating and set a $42.00 target price (up from $40.00) on shares of Generac Holdlings in a research note on Friday, September 8th. Finally, Zacks Investment Research upgraded shares of Generac Holdlings from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $44.67.
Generac Holdlings (NYSE:GNRC) opened at 45.93 on Monday. The firm’s 50-day moving average price is $39.63 and its 200 day moving average price is $37.13. The firm has a market cap of $2.85 billion, a PE ratio of 27.44 and a beta of 1.40. Generac Holdlings has a 52-week low of $33.77 and a 52-week high of $46.75.
Generac Holdlings (NYSE:GNRC) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $395.40 million for the quarter, compared to analysts’ expectations of $383.14 million. Generac Holdlings had a return on equity of 46.60% and a net margin of 7.00%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. On average, equities analysts anticipate that Generac Holdlings will post $2.96 earnings per share for the current year.
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In other Generac Holdlings news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $35.68, for a total transaction of $178,400.00. Following the transaction, the chief executive officer now owns 1,044,911 shares of the company’s stock, valued at approximately $37,282,424.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 3.00% of the company’s stock.
Large investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in shares of Generac Holdlings by 51.8% in the first quarter. Victory Capital Management Inc. now owns 3,269 shares of the technology company’s stock valued at $122,000 after acquiring an additional 1,116 shares in the last quarter. Invictus RG increased its stake in shares of Generac Holdlings by 940.9% during the first quarter. Invictus RG now owns 3,893 shares of the technology company’s stock valued at $145,000 after acquiring an additional 3,519 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of Generac Holdlings by 93.6% during the first quarter. Envestnet Asset Management Inc. now owns 4,813 shares of the technology company’s stock valued at $179,000 after acquiring an additional 2,327 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Generac Holdlings by 10.6% during the second quarter. Public Employees Retirement System of Ohio now owns 5,873 shares of the technology company’s stock valued at $212,000 after acquiring an additional 565 shares during the period. Finally, Karp Capital Management Corp acquired a new position in shares of Generac Holdlings during the first quarter valued at approximately $219,000. 96.60% of the stock is owned by institutional investors.
About Generac Holdlings
Generac Holdings Inc (Generac) is a designer and manufacturer of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business.
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