Generac (NYSE:GNRC) Rating Increased to Buy at Zacks Investment Research

Generac (NYSE:GNRC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, January 10th. The firm currently has a $54.00 target price on the technology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.82% from the company’s current price.

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. “

Several other research analysts have also issued reports on GNRC. Bank of America upgraded shares of Generac from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $45.00 to $50.00 in a research report on Friday, September 15th. KeyCorp lifted their price target on shares of Generac from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, October 20th. BidaskClub lowered shares of Generac from a “buy” rating to a “hold” rating in a research report on Friday, October 20th. Oppenheimer reiterated a “hold” rating on shares of Generac in a research report on Wednesday, November 1st. Finally, SunTrust Banks reiterated a “hold” rating and set a $48.00 price objective on shares of Generac in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Generac currently has a consensus rating of “Hold” and a consensus target price of $53.00.

Generac (NYSE:GNRC) opened at $48.29 on Wednesday. Generac has a 12 month low of $33.77 and a 12 month high of $53.78. The company has a current ratio of 1.77, a quick ratio of 1.01 and a debt-to-equity ratio of 1.92. The company has a market cap of $3,000.00, a P/E ratio of 25.28, a P/E/G ratio of 1.57 and a beta of 1.57.

In related news, CEO Aaron Jagdfeld sold 20,000 shares of Generac stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $48.54, for a total value of $970,800.00. Following the completion of the sale, the chief executive officer now owns 969,911 shares of the company’s stock, valued at approximately $47,079,479.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.00% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc raised its holdings in Generac by 26,222.2% in the 3rd quarter. IFP Advisors Inc now owns 2,369 shares of the technology company’s stock worth $109,000 after acquiring an additional 2,360 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Generac by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,847 shares of the technology company’s stock worth $139,000 after purchasing an additional 578 shares during the period. Macquarie Group Ltd. bought a new position in shares of Generac during the 3rd quarter worth about $175,000. C M Bidwell & Associates Ltd. bought a new position in shares of Generac during the 4th quarter worth about $193,000. Finally, Rothschild Investment Corp IL bought a new position in shares of Generac during the 4th quarter worth about $203,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.

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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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