Generac (NYSE:GNRC) Stock Price Up 3.9% – Here’s What Happened

Shares of Generac Holdings Inc. (NYSE:GNRC) shot up 3.9% during trading on Friday. The stock traded as high as $204.90 and last traded at $205.8170. 124,675 shares were traded during trading, a decline of 89% from the average daily volume of 1,085,083 shares. The stock had previously closed at $198.05.

Analyst Upgrades and Downgrades

GNRC has been the topic of several research reports. Cantor Fitzgerald reissued an “overweight” rating and set a $333.00 target price on shares of Generac in a research note on Wednesday, September 16th. Robert W. Baird set a $305.00 price objective on Generac in a report on Thursday, July 30th. HSBC downgraded shares of Generac to a “hold” rating and set a $333.00 price objective for the company. in a research note on Thursday, September 17th. Roth Capital increased their target price on shares of Generac from $214.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, September 17th. Finally, UBS Group reissued a “buy” rating on shares of Generac in a report on Friday. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.40.

Generac Stock Up 5.0%

The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $12.27 billion, a price-to-earnings ratio of 47.98, a P/E/G ratio of 1.76 and a beta of 1.91. The business has a fifty day simple moving average of $200.85 and a two-hundred day simple moving average of $226.03.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the business earned $1.65 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts expect that Generac Holdings Inc. will post 9.74 EPS for the current year.

Insider Buying and Selling at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $194.89, for a total value of $974,450.00. Following the completion of the sale, the chief executive officer owned 554,528 shares of the company’s stock, valued at approximately $108,071,961.92. This represents a 0.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $229.50, for a total value of $138,388.50. Following the completion of the sale, the insider owned 10,356 shares of the company’s stock, valued at $2,376,702. This trade represents a 5.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 12,839 shares of company stock worth $2,519,973. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Generac

Several hedge funds and other institutional investors have recently modified their holdings of GNRC. BlackRock Inc. bought a new stake in Generac in the 2nd quarter valued at approximately $1,170,960,000. Geode Capital Management LLC raised its holdings in shares of Generac by 0.4% in 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 purchasing an additional 6,332 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Generac by 9.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,038,493 shares of the technology company’s stock valued at $202,849,000 after purchasing an additional 86,863 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Generac in the second quarter worth $175,942,000. Finally, Park Presidio Capital LLC bought a new stake in shares of Generac in the second quarter worth $158,140,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

About Generac

Generac Holdings Inc is an energy technology company that designs and manufactures power generation and energy management products. Its portfolio includes residential standby generators, portable generators, commercial and industrial generator systems, and related transfer switches, controls and monitoring technologies.

The company also offers clean energy and electrification solutions, including battery energy storage systems, solar-related products, electric vehicle chargers and load-management technologies.