Generac Holdlings Inc. (GNRC) Hits New 52-Week High at $52.30

Shares of Generac Holdlings Inc. (NYSE:GNRC) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $52.30 and last traded at $52.27, with a volume of 225,631 shares. The stock had previously closed at $51.95.

A number of research firms recently issued reports on GNRC. BidaskClub raised Generac Holdlings from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. TheStreet raised Generac Holdlings from a “c+” rating to a “b-” rating in a research note on Wednesday, September 27th. Canaccord Genuity increased their target price on Generac Holdlings from $42.00 to $50.00 and gave the stock a “hold” rating in a research note on Thursday, October 26th. Zacks Investment Research raised Generac Holdlings from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Finally, Bank of America Corporation set a $56.00 target price on Generac Holdlings and gave the stock a “buy” rating in a research note on Monday, October 23rd. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $51.86.

The firm has a 50-day moving average price of $47.93 and a 200-day moving average price of $39.53. The stock has a market capitalization of $3.25 billion, a PE ratio of 31.246 and a beta of 1.40.

Generac Holdlings (NYSE:GNRC) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.05. The firm had revenue of $395.40 million during the quarter, compared to the consensus estimate of $383.14 million. Generac Holdlings had a return on equity of 46.60% and a net margin of 7.00%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, analysts expect that Generac Holdlings Inc. will post $3.02 earnings per share for the current year.

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $47.76, for a total transaction of $238,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.00% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Marshall Wace North America L.P. purchased a new position in shares of Generac Holdlings during the second quarter valued at approximately $4,857,000. First Trust Advisors LP lifted its position in shares of Generac Holdlings by 16.1% during the 2nd quarter. First Trust Advisors LP now owns 186,597 shares of the technology company’s stock valued at $6,742,000 after buying an additional 25,814 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Generac Holdlings by 29.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,294,301 shares of the technology company’s stock valued at $82,893,000 after buying an additional 515,905 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Generac Holdlings by 6.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 433,183 shares of the technology company’s stock valued at $15,651,000 after buying an additional 25,536 shares during the last quarter. Finally, Federated Investors Inc. PA lifted its position in shares of Generac Holdlings by 18.7% during the 2nd quarter. Federated Investors Inc. PA now owns 81,565 shares of the technology company’s stock valued at $2,947,000 after buying an additional 12,861 shares during the last quarter. 97.05% of the stock is currently owned by institutional investors.

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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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