Generac (NYSE:GNRC) Raised to “Hold” at Zacks Research

Generac (NYSE:GNRC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other equities research analysts also recently commented on GNRC. Citigroup upgraded Generac from a “neutral” rating to a “buy” rating and set a $207.00 target price on the stock in a research report on Thursday, January 8th. Wells Fargo & Company lifted their price objective on Generac from $185.00 to $234.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Barclays increased their target price on Generac from $186.00 to $213.00 and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Needham & Company LLC initiated coverage on shares of Generac in a research report on Monday, January 12th. They issued a “buy” rating and a $211.00 price target on the stock. Finally, TD Cowen upped their price target on shares of Generac from $220.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Generac has an average rating of “Moderate Buy” and a consensus price target of $220.19.

Generac Price Performance

GNRC stock opened at $229.20 on Thursday. Generac has a one year low of $99.50 and a one year high of $236.00. The company’s fifty day moving average price is $167.96 and its 200-day moving average price is $172.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.03. The company has a market capitalization of $13.45 billion, a PE ratio of 85.52, a price-to-earnings-growth ratio of 1.66 and a beta of 1.85.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). Generac had a net margin of 3.79% and a return on equity of 14.55%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm posted $2.80 earnings per share. The business’s revenue was down 11.6% on a year-over-year basis. On average, equities analysts anticipate that Generac will post 8 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Invesco Ltd. lifted its holdings in shares of Generac by 49.9% in the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after acquiring an additional 806,430 shares during the last quarter. Bank of Montreal Can raised its position in Generac by 1,141.1% in the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock worth $94,859,000 after purchasing an additional 639,551 shares during the period. Massachusetts Financial Services Co. MA raised its position in Generac by 127.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company’s stock worth $130,825,000 after purchasing an additional 536,732 shares during the period. Norges Bank bought a new stake in Generac in the fourth quarter worth about $68,590,000. Finally, Robeco Schweiz AG purchased a new position in shares of Generac during the fourth quarter valued at approximately $51,020,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

Generac Company Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.