Generac (NYSE:GNRC) Stock Lifted to “Strong-Buy” by Wall Street Zen

Wall Street Zen upgraded shares of Generac (NYSE:GNRC) from a buy rating to a strong-buy rating in a research report released on Monday,Wall Street Zen reports.

Several other analysts also recently commented on the stock. Piper Sandler decreased their price objective on shares of Generac from $303.00 to $279.00 and set an “overweight” rating on the stock in a research report on Friday, October 23rd. Canaccord Genuity Group upped their target price on shares of Generac from $275.00 to $375.00 and gave the stock a “buy” rating in a report on Thursday, September 17th. DA Davidson set a $333.00 target price on shares of Generac in a report on Thursday, July 30th. Roth Capital increased their price target on Generac from $214.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, September 17th. Finally, Barclays raised their price target on Generac from $278.00 to $281.00 and gave the company an “equal weight” rating in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Generac has a consensus rating of “Moderate Buy” and an average price target of $290.41.

Generac Price Performance

NYSE GNRC opened at $201.57 on Monday. Generac has a 12 month low of $134.80 and a 12 month high of $296.44. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 1.72 and a beta of 1.91. The company’s 50 day moving average is $199.08 and its two-hundred day moving average is $217.71. The company has a current ratio of 1.97, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, October 28th. The technology company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.14. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. Generac had a net margin of 6.52% and a return on equity of 18.78%. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.83 earnings per share. As a group, research analysts anticipate that Generac will post 9.80 earnings per share for the current year.

Insider Buying and Selling at Generac

In other news, insider Kyle Raabe sold 603 shares of Generac stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $212.57, for a total transaction of $128,179.71. Following the sale, the insider owned 9,966 shares in the company, valued at $2,118,472.62. This trade represents a 5.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman Taffe sold 150 shares of the business’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $220.00, for a total transaction of $33,000.00. Following the completion of the transaction, the insider directly owned 10,976 shares in the company, valued at $2,414,720. This trade represents a 1.35% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 13,442 shares of company stock valued at $2,682,087 in the last three months. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Generac

Several institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC grew its position in Generac by 32.9% in the first quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock worth $43,000 after acquiring an additional 54 shares in the last quarter. Contravisory Investment Management Inc. increased its stake in Generac by 1.5% during the third quarter. Contravisory Investment Management Inc. now owns 4,027 shares of the technology company’s stock worth $833,000 after acquiring an additional 58 shares during the last quarter. Essential Partners LLC increased its stake in Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after acquiring an additional 61 shares during the last quarter. Oarsman Capital Inc. raised its position in Generac by 4.3% during the second quarter. Oarsman Capital Inc. now owns 1,492 shares of the technology company’s stock valued at $437,000 after purchasing an additional 61 shares during the period. Finally, Wedbush Securities Inc. raised its position in Generac by 6.2% during the third quarter. Wedbush Securities Inc. now owns 1,049 shares of the technology company’s stock valued at $217,000 after purchasing an additional 61 shares during the period. 84.04% of the stock is owned by hedge funds and other institutional investors.

About Generac

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.