Generac (NYSE:GNRC) Sees Strong Trading Volume on Analyst Upgrade

Generac Holdings Inc. (NYSE:GNRC) shares saw strong trading volume on Tuesday after Roth Mkm raised their price target on the stock from $120.00 to $135.00. Roth Mkm currently has a neutral rating on the stock. 575,999 shares traded hands during mid-day trading, a decline of 44% from the previous session’s volume of 1,033,396 shares.The stock last traded at $135.90 and had previously closed at $134.12.

A number of other research analysts have also recently commented on the stock. Guggenheim cut shares of Generac from a “buy” rating to a “neutral” rating in a research report on Thursday, February 15th. OTR Global raised shares of Generac from a “mixed” rating to a “positive” rating in a research report on Tuesday, April 2nd. TD Cowen reduced their price target on shares of Generac from $165.00 to $144.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Robert W. Baird increased their price target on shares of Generac from $112.00 to $129.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Finally, Canaccord Genuity Group increased their price target on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $141.65.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $115.22, for a total value of $576,100.00. Following the transaction, the chief executive officer now directly owns 577,690 shares of the company’s stock, valued at approximately $66,561,441.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Generac

Several institutional investors have recently made changes to their positions in GNRC. Capital World Investors purchased a new stake in shares of Generac during the 4th quarter worth $155,707,000. Norges Bank purchased a new stake in shares of Generac in the 4th quarter worth about $67,253,000. Wellington Management Group LLP boosted its position in shares of Generac by 432.9% in the 4th quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock worth $50,697,000 after buying an additional 318,664 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Generac by 13,944.2% in the 3rd quarter. Mackenzie Financial Corp now owns 297,456 shares of the technology company’s stock worth $30,683,000 after buying an additional 295,338 shares in the last quarter. Finally, Ariel Investments LLC boosted its position in shares of Generac by 14.9% in the 3rd quarter. Ariel Investments LLC now owns 2,010,344 shares of the technology company’s stock worth $219,047,000 after buying an additional 261,050 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.94 and a current ratio of 2.27. The firm’s 50-day moving average is $121.80 and its 200 day moving average is $116.67. The firm has a market capitalization of $8.27 billion, a PE ratio of 41.70, a price-to-earnings-growth ratio of 1.77 and a beta of 1.45.

Generac (NYSE:GNRC) last announced its earnings results on Wednesday, February 14th. The technology company reported $2.07 earnings per share for the quarter, missing the consensus estimate of $2.09 by ($0.02). Generac had a net margin of 5.33% and a return on equity of 14.15%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the firm posted $1.78 EPS. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, research analysts forecast that Generac Holdings Inc. will post 6.3 earnings per share for the current fiscal year.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.