BidaskClub lowered shares of Generac Holdlings Inc. (NYSE:GNRC) from a buy rating to a hold rating in a research note released on Friday morning.
Several other research firms have also recently weighed in on GNRC. Bank of America Corporation upgraded Generac Holdlings from an underperform rating to a neutral rating and increased their price objective for the stock from $34.00 to $45.00 in a research report on Thursday, September 7th. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of Generac Holdlings in a research report on Friday, September 8th. KeyCorp reiterated a hold rating on shares of Generac Holdlings in a research report on Sunday, September 10th. Canaccord Genuity reiterated a hold rating and set a $42.00 price objective (up previously from $40.00) on shares of Generac Holdlings in a research report on Friday, September 8th. Finally, Zacks Investment Research upgraded Generac Holdlings from a sell rating to a hold rating in a research report on Monday, August 7th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $44.67.
Shares of Generac Holdlings (NYSE GNRC) opened at 45.28 on Friday. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 27.05 and a beta of 1.39. The firm has a 50-day moving average of $39.05 and a 200 day moving average of $37.07. Generac Holdlings has a one year low of $33.77 and a one year high of $45.61.
Generac Holdlings (NYSE:GNRC) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. The firm had revenue of $395.40 million for the quarter, compared to analysts’ expectations of $383.14 million. Generac Holdlings had a return on equity of 46.60% and a net margin of 7.00%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 EPS. Equities research analysts anticipate that Generac Holdlings will post $2.96 EPS for the current year.
In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $36.50, for a total value of $182,500.00. Following the transaction, the chief executive officer now owns 1,049,911 shares in the company, valued at $38,321,751.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 15,000 shares of company stock worth $563,100 in the last 90 days. 3.00% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its position in Generac Holdlings by 51.8% in the first quarter. Victory Capital Management Inc. now owns 3,269 shares of the technology company’s stock valued at $122,000 after acquiring an additional 1,116 shares during the last quarter. Invictus RG grew its position in Generac Holdlings by 940.9% in the first quarter. Invictus RG now owns 3,893 shares of the technology company’s stock valued at $145,000 after acquiring an additional 3,519 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Generac Holdlings by 93.6% in the first quarter. Envestnet Asset Management Inc. now owns 4,813 shares of the technology company’s stock valued at $179,000 after acquiring an additional 2,327 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Generac Holdlings by 10.6% in the second quarter. Public Employees Retirement System of Ohio now owns 5,873 shares of the technology company’s stock valued at $212,000 after acquiring an additional 565 shares during the last quarter. Finally, Karp Capital Management Corp bought a new position in Generac Holdlings in the first quarter valued at about $219,000. Hedge funds and other institutional investors own 96.60% of the company’s stock.
About Generac Holdlings
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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