Generac (GNRC) Stock Rating Upgraded by Goldman Sachs Group

Generac (NYSE:GNRC) was upgraded by analysts at Goldman Sachs Group from a “sell” rating to a “neutral” rating in a research note issued on Thursday, Marketbeat.com reports.

A number of other equities research analysts have also recently weighed in on the company. KeyCorp reaffirmed a “buy” rating and set a $60.00 price target on shares of Generac in a report on Wednesday, August 1st. Zacks Investment Research raised Generac from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. Canaccord Genuity lifted their price target on Generac from $58.00 to $62.00 and gave the company a “hold” rating in a report on Tuesday, September 11th. Robert W. Baird reaffirmed a “hold” rating and set a $54.00 price target on shares of Generac in a report on Friday, July 20th. Finally, Stifel Nicolaus lifted their price target on Generac from $52.00 to $56.00 and gave the company a “hold” rating in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Generac presently has an average rating of “Hold” and an average target price of $56.23.

Shares of NYSE GNRC opened at $55.95 on Thursday. The company has a current ratio of 1.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.47. Generac has a 52-week low of $42.96 and a 52-week high of $60.70. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 2.09 and a beta of 1.43.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, August 1st. The technology company reported $1.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.20. Generac had a net margin of 11.18% and a return on equity of 46.62%. The firm had revenue of $494.90 million for the quarter, compared to analysts’ expectations of $448.41 million. During the same quarter last year, the company posted $0.69 earnings per share. Generac’s revenue was up 25.3% on a year-over-year basis. As a group, analysts anticipate that Generac will post 4.14 EPS for the current fiscal year.

In related news, insider Russell S. Minick sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $54.86, for a total transaction of $493,740.00. Following the sale, the insider now owns 16,353 shares of the company’s stock, valued at $897,125.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aaron Jagdfeld sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $55.21, for a total value of $1,104,200.00. Following the sale, the chief executive officer now directly owns 875,986 shares in the company, valued at approximately $48,363,187.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,150 shares of company stock worth $6,389,948. 3.00% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Generac by 14.5% during the second quarter. BlackRock Inc. now owns 4,838,216 shares of the technology company’s stock worth $250,281,000 after purchasing an additional 614,112 shares in the last quarter. Schroder Investment Management Group raised its holdings in Generac by 516.6% during the second quarter. Schroder Investment Management Group now owns 2,234,073 shares of the technology company’s stock worth $81,625,000 after purchasing an additional 1,871,776 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Generac by 32.8% during the second quarter. Janus Henderson Group PLC now owns 1,874,526 shares of the technology company’s stock worth $96,969,000 after purchasing an additional 463,226 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Generac by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,601,730 shares of the technology company’s stock worth $82,857,000 after purchasing an additional 13,368 shares in the last quarter. Finally, Investec Asset Management LTD raised its holdings in Generac by 5.1% during the second quarter. Investec Asset Management LTD now owns 1,387,672 shares of the technology company’s stock worth $71,784,000 after purchasing an additional 67,504 shares in the last quarter. 97.75% of the stock is currently owned by hedge funds and other institutional investors.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other engine powered 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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Analyst Recommendations for Generac (NYSE:GNRC)

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