Bank of America Corporation upgraded shares of Generac Holdlings Inc. (NYSE:GNRC) from a neutral rating to a buy rating in a research note released on Friday, MarketBeat.com reports. Bank of America Corporation currently has $50.00 price target on the technology company’s stock, up from their previous price target of $45.00.
GNRC has been the subject of a number of other research reports. ValuEngine downgraded shares of Generac Holdlings from a buy rating to a hold rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Generac Holdlings from a sell rating to a hold rating in a research report on Wednesday, July 5th. Zacks Investment Research downgraded shares of Generac Holdlings from a hold rating to a sell rating in a research report on Monday, July 10th. Wolfe Research began coverage on shares of Generac Holdlings in a research report on Tuesday, July 11th. They set a market perform rating for the company. Finally, Stifel Nicolaus restated a hold rating and set a $41.00 price objective on shares of Generac Holdlings in a research report on Thursday, August 3rd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $44.67.
Shares of Generac Holdlings (NYSE:GNRC) opened at 46.06 on Friday. Generac Holdlings has a 52-week low of $33.77 and a 52-week high of $46.52. The company’s 50-day moving average is $39.34 and its 200 day moving average is $37.08. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 27.51 and a beta of 1.39.
Generac Holdlings (NYSE:GNRC) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. Generac Holdlings had a net margin of 7.00% and a return on equity of 46.60%. The firm had revenue of $395.40 million during the quarter, compared to the consensus estimate of $383.14 million. During the same quarter in the prior year, the firm earned $0.64 EPS. Generac Holdlings’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts expect that Generac Holdlings will post $2.96 earnings per share for the current fiscal year.
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In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $35.68, for a total transaction of $178,400.00. Following the transaction, the chief executive officer now directly owns 1,044,911 shares of the company’s stock, valued at approximately $37,282,424.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 15,000 shares of company stock valued at $563,100. 3.00% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in shares of Generac Holdlings by 51.8% during 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 grew its stake in shares of Generac Holdlings by 940.9% during the 1st quarter. Invictus RG now owns 3,893 shares of the technology company’s stock worth $145,000 after purchasing an additional 3,519 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Generac Holdlings by 93.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,813 shares of the technology company’s stock worth $179,000 after purchasing an additional 2,327 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of 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 worth $212,000 after purchasing an additional 565 shares during the period. Finally, Karp Capital Management Corp acquired a new position in shares of Generac Holdlings during the 1st quarter worth $219,000. 96.60% of the stock is currently owned by institutional investors and hedge funds.
Generac Holdlings Company Profile
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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