Generac (NYSE:GNRC) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Generac (NYSE:GNRC) in a report issued on Wednesday, Marketbeat.com reports. The firm set an “overweight” rating and a $325.00 price target on the technology company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 50.93% from the company’s previous close.

A number of other research analysts have also issued reports on GNRC. Jefferies Financial Group restated a “buy” rating on shares of Generac in a research note on Wednesday, June 3rd. Zacks Research lowered shares of Generac from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Stephens reissued an “overweight” rating and issued a $290.00 target price on shares of Generac in a research report on Thursday, May 21st. Argus raised their target price on Generac from $255.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Generac in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $286.44.

Generac Price Performance

Shares of NYSE GNRC opened at $215.34 on Wednesday. Generac has a fifty-two week low of $134.80 and a fifty-two week high of $296.44. The company has a market cap of $12.68 billion, a PE ratio of 67.50, a P/E/G ratio of 2.00 and a beta of 1.89. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. The business has a 50-day simple moving average of $259.91 and a two-hundred day simple moving average of $221.82.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.33 by $0.47. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. Generac’s revenue was up 12.5% on a year-over-year basis. During the same period last year, the firm posted $1.26 EPS. As a group, equities analysts expect that Generac will post 8.91 EPS for the current fiscal year.

Insider Activity at Generac

In related news, insider Norman P. Taffe sold 550 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $256.00, for a total transaction of $140,800.00. Following the completion of the transaction, the insider owned 15,808 shares of the company’s stock, valued at $4,046,848. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the transaction, the chief executive officer owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This represents a 0.88% 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. Over the last 90 days, insiders have sold 6,100 shares of company stock valued at $1,651,443. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Generac

A number of institutional investors have recently modified their holdings of GNRC. Nicollet Investment Management Inc. boosted its stake in shares of Generac by 0.7% in the fourth quarter. Nicollet Investment Management Inc. now owns 7,734 shares of the technology company’s stock valued at $1,055,000 after purchasing an additional 50 shares during the period. Gen Wealth Partners Inc lifted its holdings in Generac by 8.7% during the 4th quarter. Gen Wealth Partners Inc now owns 675 shares of the technology company’s stock worth $92,000 after buying an additional 54 shares in the last quarter. Root Financial Partners LLC lifted its holdings in Generac by 32.9% during the 1st quarter. Root Financial Partners LLC now owns 218 shares of the technology company’s stock worth $43,000 after buying an additional 54 shares in the last quarter. Meridian Financial Partners LLC boosted its position in Generac by 0.6% in the 4th quarter. Meridian Financial Partners LLC now owns 10,056 shares of the technology company’s stock valued at $1,371,000 after buying an additional 61 shares during the period. Finally, Essential Partners LLC grew its stake in shares of Generac by 57.0% in the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after acquiring an additional 61 shares in the last quarter. 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.