Generac (NYSE:GNRC) Sets New 12-Month High – Here’s Why

Generac Holdings Inc. (NYSE:GNRC)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $241.09 and last traded at $231.2150, with a volume of 170091 shares trading hands. The stock had previously closed at $235.17.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Generac in a research report on Thursday, January 22nd. Citigroup raised Generac from a “neutral” rating to a “buy” rating and set a $207.00 target price for the company in a research note on Thursday, January 8th. Needham & Company LLC assumed coverage on shares of Generac in a research note on Monday, January 12th. They issued a “buy” rating and a $211.00 price target on the stock. Roth Mkm restated a “neutral” rating and set a $220.00 price objective on shares of Generac in a research report on Thursday, February 12th. Finally, UBS Group reiterated a “buy” rating and issued a $270.00 target price on shares of Generac in a research report on Friday, February 13th. One investment 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $220.19.

Generac Stock Performance

The firm’s 50-day moving average price is $170.92 and its two-hundred day moving average price is $172.26. The stock has a market cap of $13.84 billion, a price-to-earnings ratio of 87.88, a PEG ratio of 1.66 and a beta of 1.85. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.03.

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

Hedge Funds Weigh In On Generac

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. lifted its stake in Generac by 49.9% in the fourth 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 holdings in shares of Generac by 1,141.1% in the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company’s stock valued at $94,859,000 after purchasing an additional 639,551 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Generac by 127.0% during 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 last quarter. Norges Bank acquired a new position in shares of Generac during the fourth quarter worth $68,590,000. Finally, Robeco Schweiz AG acquired a new stake in Generac in the fourth quarter valued at $51,020,000. 84.04% of the stock is owned by institutional investors and hedge funds.

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.