Generac (NYSE:GNRC) Downgraded by Wall Street Zen to “Buy”

by · The Markets Daily

Wall Street Zen downgraded shares of Generac (NYSE:GNRC – Free Report) from a strong-buy rating to a buy rating in a research report sent to investors on Sunday,Wall Street Zen reports.

Several other analysts have also recently issued reports on GNRC. UBS Group reissued a “buy” rating on shares of Generac in a research note on Friday, September 25th. Weiss Ratings upgraded Generac from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. increased their price objective on Generac from $261.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, September 18th. DA Davidson set a $333.00 price objective on Generac in a research report on Thursday, July 30th. Finally, Roth Capital boosted their target price on Generac from $214.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and a consensus price target of $289.45.

Get Our Latest Analysis on Generac

Generac Trading Up 0.2%

Shares of GNRC opened at $187.21 on Friday. The stock has a market capitalization of $11.05 billion, a P/E ratio of 43.14, a PEG ratio of 1.60 and a beta of 1.91. 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 firm has a fifty day simple moving average of $200.21 and a two-hundred day simple moving average of $227.04. Generac has a twelve month low of $134.80 and a twelve month high of $296.44.

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

Insiders Place Their Bets

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 transaction of $1,030,000.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 firm’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $212.57, for a total value of $128,179.71. Following the transaction, the insider owned 9,966 shares of the company’s stock, valued at $2,118,472.62. The trade was a 5.71% 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. Over the last three months, insiders have sold 18,442 shares of company stock valued at $3,656,537. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Generac

A number of hedge funds have recently bought and sold shares of GNRC. BlackRock Inc. bought a new stake in Generac during the 2nd quarter valued at about $1,170,960,000. Arrowstreet Capital Limited Partnership raised its holdings in Generac by 9.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,038,493 shares of the technology company’s stock worth $202,849,000 after buying an additional 86,863 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Generac in the second quarter worth approximately $175,942,000. Park Presidio Capital LLC bought a new position in shares of Generac in the second quarter worth approximately $158,140,000. Finally, Amundi lifted its stake in shares of Generac by 5.0% in the second quarter. Amundi now owns 454,516 shares of the technology company’s stock worth $133,087,000 after buying an additional 21,500 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

Generac Company Profile

(Get Free Report)

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.

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