Generac Holdlings Inc. (GNRC) Lifted to Buy at BidaskClub
Generac Holdlings Inc. (NYSE:GNRC) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Tuesday.
Other equities research analysts have also recently issued research reports about the stock. TheStreet raised shares of Generac Holdlings from a “c+” rating to a “b-” rating in a research report on Wednesday, September 27th. ValuEngine raised shares of Generac Holdlings from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Bank of America Corporation raised shares of Generac Holdlings from a “neutral” rating to a “buy” rating and raised their target price for the company from $45.00 to $50.00 in a report on Friday, September 15th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Generac Holdlings in a research report on Friday, September 8th. Finally, KeyCorp restated a “hold” rating on shares of Generac Holdlings in a research report on Sunday, September 10th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $46.33.
Shares of Generac Holdlings (NYSE GNRC) opened at 48.62 on Tuesday. Generac Holdlings has a 52 week low of $33.77 and a 52 week high of $48.70. The firm has a market cap of $3.02 billion, a P/E ratio of 29.04 and a beta of 1.40. The stock has a 50 day moving average of $41.69 and a 200 day moving average of $37.59.
Generac Holdlings (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.05. Generac Holdlings had a return on equity of 46.60% and a net margin of 7.00%. The company had revenue of $395.40 million for the quarter, compared to analysts’ expectations of $383.14 million. During the same quarter last year, the business earned $0.64 earnings per share. Generac Holdlings’s revenue was up 7.6% on a year-over-year basis. Equities analysts forecast that Generac Holdlings will post $2.96 earnings per share for the current year.
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In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $35.68, for a total value of $178,400.00. Following the completion of the transaction, the chief executive officer now owns 1,044,911 shares of the company’s stock, valued at $37,282,424.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. WFG Advisors LP grew its holdings in shares of Generac Holdlings by 20.1% during the 2nd quarter. WFG Advisors LP now owns 9,949 shares of the technology company’s stock valued at $359,000 after purchasing an additional 1,668 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Generac Holdlings by 10.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,873 shares of the technology company’s stock worth $212,000 after purchasing an additional 565 shares in the last quarter. Sterneck Capital Management LLC increased its position in Generac Holdlings by 17.9% during the 2nd quarter. Sterneck Capital Management LLC now owns 42,340 shares of the technology company’s stock worth $1,530,000 after purchasing an additional 6,440 shares in the last quarter. State Street Corp increased its position in Generac Holdlings by 5.1% during the 2nd quarter. State Street Corp now owns 1,241,485 shares of the technology company’s stock worth $44,855,000 after purchasing an additional 60,746 shares in the last quarter. Finally, Gotham Asset Management LLC lifted its stake in Generac Holdlings by 2.1% in the 2nd quarter. Gotham Asset Management LLC now owns 55,250 shares of the technology company’s stock valued at $1,996,000 after purchasing an additional 1,111 shares during the last quarter. 96.60% of the stock is currently owned by institutional investors.
Generac Holdlings Company Profile
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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