Generac Holdlings Inc. (GNRC) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Generac Holdlings Inc. (NYSE:GNRC) from a buy rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “Generac Holdings Inc. is a manufacturer of backup power generation products serving residential, light commercial and industrial markets. The Company designs, engineers, manufactures, and markets a range of automatic, stationary standby, and portable generators. Generac’s power systems range in output from 800 watts to 9 megawatts and are available through a broad network of independent and industrial dealers, retailers and wholesalers. The Company offers generators fueled by natural gas, liquid propane, gasoline, diesel, and Bi-Fuel. It also provides air-cooled engines. In addition, Generac designs, manufactures, sources and modifies engines, alternators, automatic transfer switches and other components necessary for its products. The Company’s generators are fueled by natural gas, liquid propane, gasoline, diesel and Bi-Fuel (combined diesel and natural gas). Generac Holdings Inc. is headquartered in Waukesha, Wisconsin. “

Several other brokerages also recently weighed in on GNRC. BidaskClub upgraded shares of Generac Holdlings from a hold rating to a buy rating in a report on Thursday, October 26th. Canaccord Genuity upped their price objective on Generac Holdlings from $42.00 to $50.00 and gave the stock a hold rating in a research report on Thursday, October 26th. Bank of America Corporation set a $56.00 price objective on Generac Holdlings and gave the stock a buy rating in a research report on Monday, October 23rd. Stifel Nicolaus upped their price objective on Generac Holdlings from $41.00 to $48.00 and gave the stock a hold rating in a research report on Wednesday, October 18th. Finally, SunTrust Banks, Inc. restated a hold rating and issued a $47.00 price objective on shares of Generac Holdlings in a research report on Thursday, October 12th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $52.43.

Generac Holdlings (NYSE GNRC) opened at $50.20 on Tuesday. The company has a current ratio of 2.25, a quick ratio of 1.03 and a debt-to-equity ratio of 2.35. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 1.84 and a beta of 1.79.

Generac Holdlings (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.04. Generac Holdlings had a net margin of 7.47% and a return on equity of 47.63%. The company had revenue of $457.25 million for the quarter, compared to the consensus estimate of $420.42 million. During the same quarter in the prior year, the company earned $0.82 EPS. Generac Holdlings’s quarterly revenue was up 22.5% on a year-over-year basis. research analysts expect that Generac Holdlings will post 3.1 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 that occurred on Friday, September 1st. The stock was sold at an average price of $40.44, for a total transaction of $202,200.00. Following the transaction, the chief executive officer now owns 1,039,911 shares in the company, valued at approximately $42,054,000.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 15,000 shares of company stock worth $701,000 in the last quarter. Insiders own 3.00% of the company’s stock.

Large investors have recently made changes to their positions in the company. Marshall Wace North America L.P. purchased a new position in shares of Generac Holdlings during the 2nd 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 in 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 in 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 in 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 in the last quarter. Hedge funds and other institutional investors own 97.05% of the company’s stock.

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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