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

Generac Holdings Inc. (NYSE:GNRC)’s stock price hit a new 52-week high on Monday . The company traded as high as $272.46 and last traded at $272.4430, with a volume of 106835 shares traded. The stock had previously closed at $269.41.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of Generac from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Wells Fargo & Company upped their price objective on shares of Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Roth Mkm reaffirmed a “neutral” rating and issued a $257.00 price objective on shares of Generac in a research note on Thursday, April 30th. Wall Street Zen raised shares of Generac from a “hold” rating to a “strong-buy” rating in a research report on Saturday. Finally, Jefferies Financial Group assumed coverage on shares of Generac in a report on Friday, March 20th. They issued a “hold” rating and a $222.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.31.

Generac Price Performance

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 has a 50-day moving average of $213.65 and a 200 day moving average of $183.31. The firm has a market capitalization of $15.98 billion, a PE ratio of 85.09, a price-to-earnings-growth ratio of 2.52 and a beta of 1.93.

Generac (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. As a group, research analysts anticipate that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

Insider Transactions at Generac

In other Generac news, CFO York A. Ragen sold 24,362 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the completion of the sale, the chief financial officer directly owned 137,182 shares of the company’s stock, valued at approximately $32,321,451.02. This represents a 15.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Generac

A number of hedge funds and other institutional investors have recently modified their holdings of GNRC. Caitong International Asset Management Co. Ltd bought a new stake in Generac during the third quarter worth $26,000. Sentry Investment Management LLC grew its stake in Generac by 69.8% in the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after purchasing an additional 67 shares during the period. Avalon Trust Co bought a new position in Generac in the 1st quarter valued at $32,000. First Horizon Corp purchased a new stake in shares of Generac during the 3rd quarter valued at $28,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Generac during the 2nd quarter valued at $25,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Company Profile

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.