Generac (GNRC) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Generac (NYSE:GNRC) from a hold rating to a buy rating in a report issued on Wednesday. Zacks Investment Research currently has $55.00 price objective on the technology company’s stock.

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 analysts have also recently commented on GNRC. TheStreet upgraded shares of Generac from a c+ rating to a b- rating in a report on Wednesday, September 27th. KeyCorp raised shares of Generac from a sector weight rating to an overweight rating and set a $55.00 price objective on the stock in a research report on Monday, October 2nd. Robert W. Baird reaffirmed a buy rating and set a $50.00 price objective on shares of Generac in a research report on Wednesday, October 4th. Canaccord Genuity raised their price objective on shares of Generac from $50.00 to $54.00 and gave the company a hold rating in a research report on Thursday, November 2nd. Finally, BidaskClub raised shares of Generac from a hold rating to a buy rating in a research report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the stock. Generac has an average rating of Hold and a consensus target price of $52.57.

Shares of Generac (GNRC) opened at $51.64 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 1.01 and a debt-to-equity ratio of 1.92. The company has a market cap of $3,133.66, a P/E ratio of 27.18, a P/E/G ratio of 1.63 and a beta of 1.74. Generac has a fifty-two week low of $33.77 and a fifty-two week high of $53.78.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.89 by $0.04. The business had revenue of $457.25 million during the quarter, compared to analysts’ expectations of $420.42 million. Generac had a net margin of 7.47% and a return on equity of 46.06%. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period last year, the company posted $0.82 earnings per share. analysts anticipate that Generac will post 3.22 EPS for the current year.

In related news, CMO Russell S. Minick sold 24,085 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $50.92, for a total transaction of $1,226,408.20. Following the transaction, the chief marketing officer now owns 39,369 shares of the company’s stock, valued at $2,004,669.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $52.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now directly owns 1,029,911 shares in the company, valued at approximately $53,555,372. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,085 shares of company stock worth $2,467,008. Insiders own 3.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Amalgamated Bank raised its position in shares of Generac by 4.9% in the second quarter. Amalgamated Bank now owns 8,100 shares of the technology company’s stock valued at $293,000 after purchasing an additional 380 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Generac by 10.6% in the second quarter. Public Employees Retirement System of Ohio now owns 5,873 shares of the technology company’s stock valued at $212,000 after purchasing an additional 565 shares during the period. Victory Capital Management Inc. raised its position in shares of Generac by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,847 shares of the technology company’s stock valued at $139,000 after purchasing an additional 578 shares during the period. Broadview Advisors LLC raised its position in shares of Generac by 0.8% in the second quarter. Broadview Advisors LLC now owns 101,950 shares of the technology company’s stock valued at $3,683,000 after purchasing an additional 800 shares during the period. Finally, Boothbay Fund Management LLC raised its position in shares of Generac by 9.3% in the third quarter. Boothbay Fund Management LLC now owns 12,852 shares of the technology company’s stock valued at $590,000 after purchasing an additional 1,098 shares during the period. 95.96% of the stock is currently owned by institutional investors.

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About Generac

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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