Generac (NYSE:GNRC) Receives New Coverage from Analysts at Northland Securities

Northland Securities assumed coverage on shares of Generac (NYSE:GNRCGet Rating) in a research report report published on Wednesday morning, The Fly reports. The firm issued an outperform rating and a $370.00 price objective on the technology company’s stock.

A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Generac from a sell rating to a hold rating and set a $318.00 price objective for the company in a research note on Friday, February 18th. Robert W. Baird decreased their price objective on Generac from $369.00 to $298.00 in a research note on Thursday, May 5th. UBS Group decreased their price target on Generac from $575.00 to $556.00 and set a buy rating for the company in a research note on Thursday, February 17th. KeyCorp decreased their price target on Generac from $435.00 to $350.00 and set an overweight rating for the company in a research note on Friday, April 22nd. Finally, Roth Capital decreased their price target on Generac from $555.00 to $320.00 and set a buy rating for the company in a research note on Tuesday, May 24th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $440.36.

Shares of NYSE GNRC opened at $256.17 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.70 and a quick ratio of 0.71. The stock has a market capitalization of $16.35 billion, a P/E ratio of 33.93, a price-to-earnings-growth ratio of 1.92 and a beta of 1.15. Generac has a 1-year low of $197.94 and a 1-year high of $524.31. The business has a fifty day moving average price of $259.40 and a 200 day moving average price of $307.59.

Generac (NYSE:GNRCGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The technology company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $0.17. The firm had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.09 billion. Generac had a return on equity of 30.22% and a net margin of 12.68%. The firm’s quarterly revenue was up 40.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.38 EPS. As a group, equities research analysts anticipate that Generac will post 11.66 earnings per share for the current fiscal year.

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $218.70, for a total transaction of $1,093,500.00. Following the sale, the chief executive officer now directly owns 625,975 shares of the company’s stock, valued at $136,900,732.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Russell S. Minick sold 11,389 shares of the firm’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $318.01, for a total value of $3,621,815.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,389 shares of company stock worth $7,781,466. 2.80% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of GNRC. First Republic Investment Management Inc. grew its holdings in Generac by 15.0% in the third quarter. First Republic Investment Management Inc. now owns 19,004 shares of the technology company’s stock valued at $7,766,000 after purchasing an additional 2,472 shares during the period. Scotia Capital Inc. grew its holdings in Generac by 405.0% in the third quarter. Scotia Capital Inc. now owns 4,166 shares of the technology company’s stock valued at $1,703,000 after purchasing an additional 3,341 shares during the period. Bank of Nova Scotia grew its holdings in Generac by 118.2% in the third quarter. Bank of Nova Scotia now owns 29,440 shares of the technology company’s stock valued at $12,025,000 after purchasing an additional 15,946 shares during the period. Geode Capital Management LLC lifted its position in shares of Generac by 0.8% in the third quarter. Geode Capital Management LLC now owns 1,153,039 shares of the technology company’s stock valued at $469,999,000 after acquiring an additional 9,672 shares in the last quarter. Finally, EAM Global Investors LLC purchased a new position in shares of Generac in the third quarter valued at approximately $1,073,000. 88.35% of the stock is currently owned by institutional investors.

Generac Company Profile (Get Rating)

Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.

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