Bank of America reissued their buy rating on shares of Generac (NYSE:GNRC) in a report published on Thursday morning, Briefing.com Automated Import reports. Bank of America currently has a $75.00 target price on the technology company’s stock, up from their previous target price of $70.00.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Generac from a hold rating to a buy rating and set a $64.00 price target on the stock in a research note on Friday, May 3rd. Northcoast Research raised Generac from a neutral rating to a buy rating and set a $70.00 price target on the stock in a research note on Friday, May 3rd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $62.25.
Shares of GNRC opened at $68.61 on Thursday. The stock has a market cap of $4.27 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 2.26 and a beta of 1.10. Generac has a 12-month low of $45.43 and a 12-month high of $68.84. The company has a quick ratio of 0.92, a current ratio of 2.06 and a debt-to-equity ratio of 1.25.
Generac (NYSE:GNRC) last released its earnings results on Thursday, May 2nd. The technology company reported $0.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.14. The company had revenue of $470.35 million during the quarter, compared to the consensus estimate of $450.73 million. Generac had a return on equity of 41.59% and a net margin of 11.84%. Generac’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. On average, equities analysts forecast that Generac will post 4.67 earnings per share for the current year.
In other news, CEO Aaron Jagdfeld sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $55.86, for a total transaction of $1,117,200.00. Following the transaction, the chief executive officer now directly owns 681,043 shares of the company’s stock, valued at $38,043,061.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 60,000 shares of company stock worth $3,255,600 over the last three months. Insiders own 2.70% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of GNRC. Enlightenment Research LLC purchased a new position in shares of Generac during the fourth quarter valued at approximately $25,000. Exane Derivatives bought a new stake in shares of Generac during the first quarter valued at approximately $36,000. Zions Bancorporation N.A. bought a new stake in shares of Generac during the first quarter valued at approximately $39,000. Murphy Pohlad Asset Management LLC bought a new stake in shares of Generac during the fourth quarter valued at approximately $49,000. Finally, Quadrant Capital Group LLC bought a new stake in shares of Generac during the first quarter valued at approximately $52,000. 94.32% of the stock is currently owned by hedge funds and other institutional investors.
Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power 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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