Generac (NYSE:GNRC) Sets New 52-Week High – Time to Buy?

Generac Holdings Inc. (NYSE:GNRC)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $278.48 and last traded at $278.48, with a volume of 128669 shares trading hands. The stock had previously closed at $270.14.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GNRC. JPMorgan Chase & Co. boosted their price target on shares of Generac from $229.00 to $267.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. TD Cowen raised their price objective on shares of Generac from $255.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Generac in a research note on Tuesday, May 19th. Stifel Nicolaus set a $275.00 target price on shares of Generac in a research report on Thursday, April 30th. Finally, Barclays raised their price target on shares of Generac from $213.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $276.88.

Generac Price Performance

The company has a market cap of $16.41 billion, a P/E ratio of 87.40, a PEG ratio of 2.57 and a beta of 1.93. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The business’s fifty day moving average is $228.64 and its 200 day moving average is $192.78.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the business earned $1.26 EPS. Generac’s revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Generac Holdings Inc. will post 8.91 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in shares of Generac by 49.9% during the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after buying an additional 806,430 shares during the period. State Street Corp increased its position in shares of Generac by 2.1% during the second quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock valued at $313,619,000 after buying an additional 45,592 shares during the period. Victory Capital Management Inc. increased its position in shares of Generac by 17.9% during the third quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock valued at $355,530,000 after buying an additional 324,809 shares during the period. Boston Partners increased its position in shares of Generac by 7.1% during the third quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock valued at $326,003,000 after buying an additional 128,439 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Generac by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock valued at $202,943,000 after buying an additional 6,332 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.