Generac (GNRC) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Generac (NYSE:GNRC) from a buy rating to a hold rating in a research note issued to investors on Thursday.

According to Zacks, “Generac Holdings Inc. is a manufacturer of backup power generation products serving residential, light commercial and industrial markets. The Company designs, engineers, manufactures, and markets a range of automatic, stationary standby, and portable generators. Generac’s power systems range in output from 800 watts to 9 megawatts and are available through a broad network of independent and industrial dealers, retailers and wholesalers. The Company offers generators fueled by natural gas, liquid propane, gasoline, diesel, and Bi-Fuel. It also provides air-cooled engines. In addition, Generac designs, manufactures, sources and modifies engines, alternators, automatic transfer switches and other components necessary for its products. The Company’s generators are fueled by natural gas, liquid propane, gasoline, diesel and Bi-Fuel (combined diesel and natural gas). Generac Holdings Inc. is headquartered in Waukesha, Wisconsin. “

Other research analysts also recently issued reports about the stock. TheStreet raised shares of Generac from a c+ rating to a b- rating in a research report on Wednesday, September 27th. BidaskClub raised shares of Generac from a hold rating to a buy rating in a research report on Thursday, October 26th. Bank of America set a $56.00 price objective on shares of Generac and gave the company a buy rating in a research report on Monday, October 23rd. Robert W. Baird reaffirmed a buy rating and set a $50.00 price objective on shares of Generac in a research report on Wednesday, October 4th. Finally, ValuEngine downgraded shares of Generac from a strong-buy rating to a buy rating in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $52.57.

Generac (NYSE GNRC) traded up $1.23 during trading on Thursday, hitting $51.64. 473,944 shares of the stock traded hands, compared to its average volume of 464,308. The stock has a market capitalization of $3,142.36, a P/E ratio of 27.18, a P/E/G ratio of 1.63 and a beta of 1.74. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.01 and a current ratio of 1.77. Generac has a 1-year low of $33.77 and a 1-year high of $53.78.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.04. Generac had a net margin of 7.47% and a return on equity of 46.06%. The firm had revenue of $457.25 million for the quarter, compared to the consensus estimate of $420.42 million. During the same period in the previous year, the firm posted $0.82 earnings per share. The firm’s revenue was up 22.5% on a year-over-year basis. research analysts predict that Generac will post 3.22 earnings per share for the current fiscal year.

In other Generac news, CMO Russell S. Minick sold 24,085 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $50.92, for a total value of $1,226,408.20. Following the completion of the sale, the chief marketing officer now directly owns 39,369 shares of the company’s stock, valued at $2,004,669.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Aaron Jagdfeld sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $49.03, for a total transaction of $980,600.00. Following the completion of the sale, the chief executive officer now directly owns 990,411 shares of the company’s stock, valued at $48,559,851.33. The disclosure for this sale can be found here. Insiders sold 49,085 shares of company stock valued at $2,467,008 over the last three months. Insiders own 3.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of GNRC. IFP Advisors Inc grew its position in Generac by 26,222.2% in the third quarter. IFP Advisors Inc now owns 2,369 shares of the technology company’s stock worth $109,000 after acquiring an additional 2,360 shares in the last quarter. Victory Capital Management Inc. grew its position in Generac by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,847 shares of the technology company’s stock worth $139,000 after acquiring an additional 578 shares in the last quarter. Macquarie Group Ltd. bought a new stake in Generac in the third quarter worth approximately $175,000. Public Employees Retirement System of Ohio grew its position in Generac by 10.6% in the second quarter. Public Employees Retirement System of Ohio now owns 5,873 shares of the technology company’s stock worth $212,000 after acquiring an additional 565 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Generac in the third quarter worth approximately $238,000. 95.96% of the stock is owned by institutional investors.

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Generac 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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