Generac (GNRC) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Generac (NYSE:GNRC) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

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. “

A number of other equities research analysts have also issued reports on the company. Goldman Sachs Group lowered their target price on Generac from $53.00 to $47.00 and set a neutral rating for the company in a research note on Thursday. Robert W. Baird reiterated a buy rating and issued a $52.00 target price on shares of Generac in a research note on Wednesday, February 14th. Stifel Nicolaus reiterated a hold rating and issued a $49.00 target price (down previously from $50.00) on shares of Generac in a research note on Wednesday, February 14th. SunTrust Banks upgraded Generac from a hold rating to a buy rating in a research note on Wednesday, February 14th. Finally, Bank of America reiterated a buy rating and issued a $49.84 target price (down previously from $58.00) on shares of Generac in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. Generac currently has an average rating of Hold and a consensus target price of $51.36.

Shares of Generac (GNRC) opened at $45.69 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.77 and a debt-to-equity ratio of 1.92. Generac has a 12 month low of $33.77 and a 12 month high of $53.78. The stock has a market capitalization of $2,849.75, a PE ratio of 13.44, a PEG ratio of 1.99 and a beta of 1.64.

Generac (NYSE:GNRC) last posted its earnings results on Tuesday, February 13th. The technology company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.17. Generac had a return on equity of 48.32% and a net margin of 9.53%. The business had revenue of $488.00 million during the quarter, compared to analyst estimates of $475.15 million. During the same quarter last year, the firm earned $1.12 earnings per share. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. analysts expect that Generac will post 3.54 EPS for the current year.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the business. We Are One Seven LLC acquired a new stake in Generac during the 4th quarter valued at approximately $274,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its stake in Generac by 202.7% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 113,800 shares of the technology company’s stock valued at $5,635,000 after purchasing an additional 76,200 shares in the last quarter. CapWealth Advisors LLC grew its stake in Generac by 9.8% during the 4th quarter. CapWealth Advisors LLC now owns 21,385 shares of the technology company’s stock valued at $1,059,000 after purchasing an additional 1,910 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in Generac during the 4th quarter valued at approximately $1,320,000. Finally, Gotham Asset Management LLC acquired a new stake in Generac during the 4th quarter valued at approximately $10,293,000.

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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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