Generac (NYSE:GNRC) Hits New 12-Month High at $73.93

Generac Holdings Inc. (NYSE:GNRC) hit a new 52-week high on Friday . The stock traded as high as $73.93 and last traded at $73.91, with a volume of 7366 shares traded. The stock had previously closed at $71.92.

Several brokerages have weighed in on GNRC. Bank of America reaffirmed a “buy” rating and issued a $83.00 target price (up from $75.00) on shares of Generac in a research report on Thursday, June 27th. Northcoast Research raised Generac from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Friday, May 3rd. Zacks Investment Research raised Generac from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Tuesday, August 6th. Robert W. Baird raised Generac from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $64.00 to $86.00 in a research report on Monday, July 1st. Finally, ValuEngine lowered Generac from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Generac has a consensus rating of “Buy” and a consensus price target of $73.83.

The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 2.38 and a beta of 1.23. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.19 and a quick ratio of 1.00. The business has a fifty day moving average price of $71.43 and a 200 day moving average price of $59.56.

Generac (NYSE:GNRC) last released its earnings results on Thursday, August 1st. The technology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. The firm had revenue of $541.90 million for the quarter, compared to analyst estimates of $538.96 million. Generac had a return on equity of 38.99% and a net margin of 12.09%. Generac’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 earnings per share. Research analysts anticipate that Generac Holdings Inc. will post 4.73 earnings per share for the current year.

In related news, CEO Aaron Jagdfeld sold 20,000 shares of Generac stock in a transaction dated 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 filing with the SEC, which is available through this hyperlink. Also, EVP Erik Wilde sold 7,587 shares of Generac stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $71.44, for a total value of $542,015.28. Following the transaction, the executive vice president now directly owns 11,196 shares in the company, valued at $799,842.24. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Investec Asset Management North America Inc. boosted its position in shares of Generac by 15.9% in the 1st quarter. Investec Asset Management North America Inc. now owns 31,056 shares of the technology company’s stock valued at $1,591,000 after purchasing an additional 4,265 shares during the period. Wakefield Asset Management LLLP boosted its position in shares of Generac by 38.7% in the 1st quarter. Wakefield Asset Management LLLP now owns 12,068 shares of the technology company’s stock valued at $618,000 after purchasing an additional 3,366 shares during the period. Federated Investors Inc. PA boosted its position in shares of Generac by 3.5% in the 1st quarter. Federated Investors Inc. PA now owns 302,251 shares of the technology company’s stock valued at $15,484,000 after purchasing an additional 10,361 shares during the period. Kendall Capital Management acquired a new position in shares of Generac in the 1st quarter valued at $418,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Generac in the 2nd quarter valued at $520,000. 94.54% of the stock is currently owned by hedge funds and other institutional investors.

About Generac (NYSE:GNRC)

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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