Generac (NYSE:GNRC) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Generac (NYSE:GNRC) from a hold rating to a buy rating in a research note released on Tuesday, Zacks.com reports. Zacks Investment Research currently has $103.00 price target on the technology company’s stock.

According to Zacks, “Generac Holdings Inc. is a manufacturer of backup power generation products serving residential, light commercial and industrial markets. The Company designs, engineers, manufactures, and markets a range of automatic, stationary standby, and portable generators. Generac’s power systems range in output from 800 watts to 9 megawatts and are available through a broad network of independent and industrial dealers, retailers and wholesalers. The Company offers generators fueled by natural gas, liquid propane, gasoline, diesel, and Bi-Fuel. It also provides air-cooled engines. In addition, Generac designs, manufactures, sources and modifies engines, alternators, automatic transfer switches and other components necessary for its products. The Company’s generators are fueled by natural gas, liquid propane, gasoline, diesel and Bi-Fuel (combined diesel and natural gas). Generac Holdings Inc. is headquartered in Waukesha, Wisconsin. “

GNRC has been the topic of several other research reports. Bank of America lowered shares of Generac from a buy rating to a neutral rating and set a $108.00 price target on the stock. in a research report on Friday, November 1st. Canaccord Genuity set a $95.00 price target on shares of Generac and gave the company a hold rating in a research report on Friday, November 1st. ValuEngine lowered shares of Generac from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Northcoast Research raised their price target on shares of Generac from $93.00 to $118.00 and gave the company a buy rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $102.00.

GNRC stock opened at $93.40 on Tuesday. The firm has a market cap of $5.80 billion, a PE ratio of 19.87, a P/E/G ratio of 2.93 and a beta of 1.17. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.00 and a current ratio of 2.19. The firm’s fifty day moving average is $85.07 and its 200 day moving average is $71.93. Generac has a one year low of $45.43 and a one year high of $98.37.

Generac (NYSE:GNRC) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.10. The company had revenue of $601.14 million for the quarter, compared to analyst estimates of $583.14 million. Generac had a net margin of 11.85% and a return on equity of 37.71%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the business earned $1.43 earnings per share. Research analysts predict that Generac will post 4.91 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 dated Friday, August 16th. The shares were sold at an average price of $73.91, for a total value of $763,342.48. Following the sale, the insider now owns 24,743 shares in the company, valued at $1,828,755.13. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in GNRC. WINTON GROUP Ltd acquired a new stake in shares of Generac in the second quarter valued at about $520,000. First Hawaiian Bank grew its position in shares of Generac by 12.1% in the second quarter. First Hawaiian Bank now owns 6,850 shares of the technology company’s stock valued at $475,000 after purchasing an additional 740 shares during the period. KG&L Capital Management LLC acquired a new stake in shares of Generac in the second quarter valued at about $242,000. NEXT Financial Group Inc grew its position in shares of Generac by 21.0% in the second quarter. NEXT Financial Group Inc now owns 4,413 shares of the technology company’s stock valued at $306,000 after purchasing an additional 765 shares during the period. Finally, Atwood & Palmer Inc. grew its position in shares of Generac by 0.8% in the second quarter. Atwood & Palmer Inc. now owns 202,270 shares of the technology company’s stock valued at $14,040,000 after purchasing an additional 1,535 shares during the period. Institutional investors and hedge funds own 96.48% of the company’s stock.

About Generac

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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