Generac (GNRC) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Generac (NYSE:GNRC) from a hold rating to a buy rating in a research note issued to investors on Thursday. Zacks Investment Research currently has $60.00 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 also recently commented on GNRC. ValuEngine raised shares of Generac from a sell rating to a hold rating in a report on Wednesday, January 2nd. Robert W. Baird lifted their target price on shares of Generac from $58.00 to $60.00 and gave the stock a neutral rating in a report on Friday, November 2nd. Finally, Goldman Sachs Group raised shares of Generac from a sell rating to a neutral rating in a report on Thursday, October 18th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $56.73.

Generac stock traded up $0.61 during mid-day trading on Thursday, reaching $54.74. The company’s stock had a trading volume of 513,777 shares, compared to its average volume of 314,060. The company has a market cap of $3.32 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 1.81 and a beta of 1.34. Generac has a 12 month low of $42.96 and a 12 month high of $60.70. The company has a current ratio of 1.88, a quick ratio of 0.98 and a debt-to-equity ratio of 1.23.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Thursday, November 1st. The technology company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.35. Generac had a net margin of 12.45% and a return on equity of 47.44%. The company had revenue of $559.52 million during the quarter, compared to the consensus estimate of $502.94 million. During the same quarter last year, the firm posted $0.92 EPS. The company’s quarterly revenue was up 22.7% on a year-over-year basis. On average, equities research analysts forecast that Generac will post 4.66 EPS for the current year.

In related news, CFO York A. Ragen sold 36,000 shares of the stock in a transaction dated Tuesday, November 20th. The shares were sold at an average price of $54.84, for a total transaction of $1,974,240.00. Following the completion of the transaction, the chief financial officer now owns 185,108 shares in the company, valued at $10,151,322.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Aaron Jagdfeld sold 20,000 shares of the stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $51.39, for a total transaction of $1,027,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,000 shares of company stock valued at $5,131,440. 3.00% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Csenge Advisory Group purchased a new stake in shares of Generac in the 3rd quarter valued at $38,000. First Hawaiian Bank grew its stake in Generac by 71.5% during the 4th quarter. First Hawaiian Bank now owns 1,403 shares of the technology company’s stock worth $70,000 after purchasing an additional 585 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Generac during the 3rd quarter worth $100,000. Salem Investment Counselors Inc. acquired a new position in Generac during the 3rd quarter worth $169,000. Finally, Advisory Services Network LLC acquired a new position in Generac during the 3rd quarter worth $179,000. Hedge funds and other institutional investors own 94.88% of the company’s stock.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other engine powered products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.

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