Generac Holdlings Inc. (NYSE:GNRC) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday.
Several other analysts also recently commented on the company. Bank of America Corporation upgraded Generac Holdlings from an “underperform” rating to a “neutral” rating and raised their target price for the company from $34.00 to $45.00 in a research note on Thursday, September 7th. Zacks Investment Research downgraded Generac Holdlings from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. ValuEngine downgraded Generac Holdlings from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. KeyCorp reiterated a “hold” rating on shares of Generac Holdlings in a research note on Sunday, September 10th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $42.00 price target (up previously from $40.00) on shares of Generac Holdlings in a research note on Friday, September 8th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $44.67.
Generac Holdlings (GNRC) opened at 45.28 on Friday. The firm has a market capitalization of $2.81 billion, a PE ratio of 27.05 and a beta of 1.39. The firm has a 50-day moving average price of $39.05 and a 200-day moving average price of $37.07. Generac Holdlings has a 1-year low of $33.77 and a 1-year high of $45.61.
Generac Holdlings (NYSE:GNRC) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.05. The company had revenue of $395.40 million during the quarter, compared to the consensus estimate of $383.14 million. Generac Holdlings had a return on equity of 46.60% and a net margin of 7.00%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. Equities analysts expect that Generac Holdlings will post $2.96 earnings per share for the current fiscal year.
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In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac Holdlings stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $35.68, for a total value of $178,400.00. Following the sale, the chief executive officer now owns 1,044,911 shares of the company’s stock, valued at approximately $37,282,424.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 15,000 shares of company stock worth $563,100 in the last ninety days. 3.00% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its holdings in shares of Generac Holdlings by 51.8% in the 1st quarter. Victory Capital Management Inc. now owns 3,269 shares of the technology company’s stock worth $122,000 after purchasing an additional 1,116 shares during the period. Invictus RG raised its holdings in Generac Holdlings by 940.9% during the 1st 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 period. Envestnet Asset Management Inc. raised its holdings in Generac Holdlings by 93.6% during the 1st 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 period. Karp Capital Management Corp bought a new stake in Generac Holdlings during the 1st quarter valued at $219,000. Finally, Public Employees Retirement System of Ohio raised its holdings in Generac Holdlings by 10.6% during the 2nd 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 period. 96.64% of the stock is currently owned by institutional investors.
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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