Generac (NYSE:GNRC) Hits New 1-Year High at $88.44

Shares of Generac Holdings Inc. (NYSE:GNRC) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $88.44 and last traded at $87.36, with a volume of 7688 shares traded. The stock had previously closed at $86.01.

Several equities research analysts recently issued reports on GNRC shares. ValuEngine cut shares of Generac from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research cut shares of Generac from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Bank of America restated a “buy” rating and issued a $88.00 target price on shares of Generac in a report on Monday, September 16th. Canaccord Genuity set a $80.00 target price on shares of Generac and gave the stock a “hold” rating in a report on Thursday, October 10th. Finally, Robert W. Baird upgraded shares of Generac from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $64.00 to $86.00 in a report on Monday, July 1st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Generac has an average rating of “Hold” and an average price target of $82.60.

The company’s 50 day moving average price is $80.35 and its two-hundred day moving average price is $68.01. The firm has a market cap of $5.28 billion, a PE ratio of 18.58, a PEG ratio of 2.72 and a beta of 1.15. The company has a current ratio of 2.19, a quick ratio of 1.00 and a debt-to-equity ratio of 1.18.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.12. The business had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $538.96 million. Generac had a net margin of 12.09% and a return on equity of 38.99%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.11 EPS. Equities research analysts expect that Generac Holdings Inc. will post 4.8 earnings per share for the current fiscal year.

In other news, insider Russell S. Minick sold 10,328 shares of Generac stock in a transaction on Friday, August 16th. The shares were sold at an average price of $73.91, for a total transaction of $763,342.48. Following the transaction, the insider now owns 24,743 shares in the company, valued at approximately $1,828,755.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Erik Wilde sold 7,587 shares of Generac stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $71.44, for a total transaction of $542,015.28. Following the transaction, the executive vice president now owns 11,196 shares in the company, valued at approximately $799,842.24. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in GNRC. JPMorgan Chase & Co. raised its position in shares of Generac by 48.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,962,407 shares of the technology company’s stock valued at $206,688,000 after purchasing an additional 969,451 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of Generac during the 2nd quarter valued at $51,217,000. Scout Investments Inc. bought a new stake in shares of Generac during the 3rd quarter valued at $40,399,000. Invesco Ltd. raised its position in shares of Generac by 601.6% during the 2nd quarter. Invesco Ltd. now owns 589,050 shares of the technology company’s stock valued at $40,887,000 after purchasing an additional 505,093 shares during the period. Finally, Victory Capital Management Inc. bought a new stake in shares of Generac during the 2nd quarter valued at $31,671,000. Hedge funds and other institutional investors own 96.41% of the company’s stock.

Generac Company Profile (NYSE:GNRC)

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.

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