Generac (NYSE:GNRC) Downgraded to “Hold” at Zacks Investment Research

Generac (NYSE:GNRC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday, January 8th.

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 reports. BidaskClub raised shares of Generac from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. KeyCorp raised their price target on shares of Generac from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, October 20th. Bank of America raised shares of Generac from a “neutral” rating to a “buy” rating and raised their price target for the company from $45.00 to $50.00 in a research note on Friday, September 15th. Canaccord Genuity raised their price target on shares of Generac from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Thursday, November 2nd. Finally, Wolfe Research lowered shares of Generac from a “market perform” rating to an “underperform” rating in a research note on Monday, November 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $53.00.

Generac (NYSE:GNRC) traded down $1.54 during trading hours on Monday, reaching $48.93. 383,526 shares of the company’s stock traded hands, compared to its average volume of 415,620. 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 one year low of $33.77 and a one year high of $53.78. The stock has a market capitalization of $3,196.45, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.64 and a beta of 1.74.

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

In related news, CEO Aaron Jagdfeld sold 20,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $49.03, for a total transaction of $980,600.00. Following the completion of the transaction, the chief executive officer now owns 990,411 shares of the company’s stock, valued at approximately $48,559,851.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Russell S. Minick sold 24,085 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $50.92, for a total transaction of $1,226,408.20. Following the transaction, the chief marketing officer now directly owns 39,369 shares of the company’s stock, valued at approximately $2,004,669.48. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of GNRC. IFP Advisors Inc boosted its position in Generac by 26,222.2% in the 3rd quarter. IFP Advisors Inc now owns 2,369 shares of the technology company’s stock valued at $109,000 after buying an additional 2,360 shares during the period. Victory Capital Management Inc. boosted its position in Generac by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,847 shares of the technology company’s stock valued at $139,000 after buying an additional 578 shares during the period. Macquarie Group Ltd. purchased a new position in Generac in the 3rd quarter valued at approximately $175,000. Rothschild Investment Corp IL purchased a new position in Generac in the 4th quarter valued at approximately $203,000. Finally, Public Employees Retirement System of Ohio boosted its position in Generac by 10.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,873 shares of the technology company’s stock valued at $212,000 after buying an additional 565 shares during the period. 95.98% of the stock is 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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