Generac (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 report issued on Wednesday morning. Zacks Investment Research currently has $54.00 target price 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. “

Other equities analysts have also issued research reports about the company. TheStreet raised Generac from a c+ rating to a b- rating in a report on Wednesday, September 27th. SunTrust Banks reissued a hold rating and set a $48.00 price target on shares of Generac in a report on Friday, November 3rd. ValuEngine lowered Generac from a strong-buy rating to a buy rating in a report on Thursday, November 9th. BidaskClub lowered Generac from a buy rating to a hold rating in a report on Friday, September 15th. Finally, Stifel Nicolaus raised their price target on Generac from $41.00 to $48.00 and gave the stock a hold rating in a report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $52.43.

Generac (NYSE GNRC) traded up $0.25 during midday trading on Wednesday, hitting $49.27. The company had a trading volume of 252,700 shares, compared to its average volume of 363,308. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.01 and a current ratio of 1.77. Generac has a 52-week low of $33.77 and a 52-week high of $53.78. The stock has a market capitalization of $3,062.82, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.59 and a beta of 1.74.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.04. Generac had a return on equity of 46.06% and a net margin of 7.47%. The firm had revenue of $457.25 million for the quarter, compared to analyst estimates of $420.42 million. During the same quarter last year, the company posted $0.82 earnings per share. The business’s revenue was up 22.5% on a year-over-year basis. equities analysts forecast that Generac will post 3.22 EPS for the current year.

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $52.00, for a total value of $260,000.00. Following the sale, the chief executive officer now owns 1,029,911 shares of the company’s stock, valued at approximately $53,555,372. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Russell S. Minick sold 24,085 shares of Generac stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $50.92, for a total value of $1,226,408.20. Following the completion of the sale, the chief marketing officer now directly owns 39,369 shares in the company, valued at approximately $2,004,669.48. The disclosure for this sale can be found here. Insiders sold a total of 49,085 shares of company stock worth $2,467,008 in the last ninety days. 3.00% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. EdgePoint Investment Group Inc. boosted its stake in shares of Generac by 13.9% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 8,775,546 shares of the technology company’s stock worth $317,060,000 after acquiring an additional 1,069,401 shares in the last quarter. Shapiro Capital Management LLC purchased a new stake in shares of Generac during the 2nd quarter worth approximately $37,696,000. Pictet Asset Management Ltd. purchased a new stake in shares of Generac during the 3rd quarter worth approximately $40,510,000. Janus Henderson Group PLC purchased a new stake in shares of Generac during the 2nd quarter worth approximately $20,734,000. Finally, Lazard Asset Management LLC boosted its stake in shares of Generac by 55.1% during the 2nd quarter. Lazard Asset Management LLC now owns 928,693 shares of the technology company’s stock worth $33,553,000 after acquiring an additional 330,016 shares in the last quarter. 95.78% of the stock is currently owned by institutional investors.

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About Generac

Generac Holdings Inc (Generac) is a designer and manufacturer of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business.

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