Generac (NYSE:GNRC) Stock Rating Lowered by Wall Street Zen

Generac (NYSE:GNRC) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Sunday, Wall Street Zen reports.

A number of other research firms also recently issued reports on GNRC. Weiss Ratings raised shares of Generac from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Canaccord Genuity Group lifted their price objective on Generac from $275.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, September 17th. HSBC cut Generac to a “hold” rating and set a $333.00 price objective on the stock. in a research report on Thursday, September 17th. Barclays reduced their target price on Generac from $285.00 to $278.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Finally, Citigroup decreased their target price on Generac from $300.00 to $232.00 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Generac currently has an average rating of “Moderate Buy” and an average price target of $289.45.

Generac Stock Up 1.5%

Shares of NYSE GNRC opened at $189.73 on Friday. Generac has a one year low of $134.80 and a one year high of $296.44. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.04 and a quick ratio of 1.00. The firm’s 50 day simple moving average is $200.25 and its two-hundred day simple moving average is $216.51. The stock has a market capitalization of $11.20 billion, a P/E ratio of 43.72, a PEG ratio of 1.60 and a beta of 1.91.

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

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $206.00, for a total value of $1,030,000.00. Following the transaction, the chief executive officer directly owned 544,528 shares in the company, valued at $112,172,768. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman Taffe sold 150 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $220.00, for a total value of $33,000.00. Following the completion of the transaction, the insider directly owned 10,976 shares in the company, valued at $2,414,720. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 18,442 shares of company stock worth $3,656,537 over the last three months. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of Generac

Hedge funds and other institutional investors have recently modified their holdings of the company. Independence Bank of Kentucky grew its position in shares of Generac by 16.4% during the third quarter. Independence Bank of Kentucky now owns 19,190 shares of the technology company’s stock valued at $3,971,000 after purchasing an additional 2,702 shares in the last quarter. Abundance Wealth Counselors increased its holdings in shares of Generac by 2.6% in the third quarter. Abundance Wealth Counselors now owns 5,571 shares of the technology company’s stock worth $1,153,000 after purchasing an additional 139 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in shares of Generac by 128.1% in the third quarter. Verdence Capital Advisors LLC now owns 3,577 shares of the technology company’s stock worth $740,000 after buying an additional 2,009 shares in the last quarter. Apollon Wealth Management LLC lifted its position in shares of Generac by 19.8% in the third quarter. Apollon Wealth Management LLC now owns 1,907 shares of the technology company’s stock worth $395,000 after buying an additional 315 shares in the last quarter. Finally, Townsend & Associates Inc lifted its position in shares of Generac by 0.8% in the third quarter. Townsend & Associates Inc now owns 120,341 shares of the technology company’s stock worth $23,187,000 after buying an additional 986 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

About Generac

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.