Generac (NYSE:GNRC) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Generac from “strong buy” to “buy,” while the broader analyst consensus remains “Moderate Buy” with a $289.45 target price.
• Generac shares opened at $187.21, below their 50-day and 200-day moving averages, with a market capitalization of approximately $11.05 billion.
• The company exceeded quarterly earnings expectations, reporting $2.91 in EPS versus the $2.01 consensus estimate, while revenue rose 10.3% year over year to $1.17 billion. Insiders have sold about $3.66 million worth of shares over the past 90 days.

Generac (NYSE:GNRC - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Sunday, Wall Street Zen reports.

Several other analysts have also recently commented on GNRC. Wells Fargo & Company set a $280.00 price target on Generac in a report on Thursday, September 17th. Stifel Nicolaus lifted their price target on Generac from $285.00 to $290.00 and gave the company a "buy" rating in a research note on Wednesday, September 30th. HSBC lowered Generac to a "hold" rating and set a $333.00 price objective on the stock. in a report on Thursday, September 17th. Robert W. Baird set a $305.00 price objective on Generac in a research report on Thursday, July 30th. Finally, Canaccord Genuity Group raised their target price on Generac from $275.00 to $375.00 and gave the company a "buy" rating in a report on Thursday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $289.45.

Generac Trading Down 0.4%

Shares of Generac stock opened at $187.21 on Friday. Generac has a 52-week low of $134.80 and a 52-week high of $296.44. The company has a quick ratio of 1.00, a current ratio of 2.04 and a debt-to-equity ratio of 0.43. The company's 50-day simple moving average is $200.21 and its 200-day simple moving average is $226.82. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 43.14, a price-to-earnings-growth ratio of 1.60 and a beta of 1.91.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.90. Generac had a net margin of 5.82% and a return on equity of 17.83%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the firm earned $1.65 earnings per share. The firm's revenue was up 10.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Generac will post 9.74 earnings per share for the current year.

Insider Activity at Generac

In related news, insider Kyle Raabe sold 603 shares of the firm's stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $212.57, for a total transaction of $128,179.71. Following the sale, the insider owned 9,966 shares in the company, valued at approximately $2,118,472.62. This trade represents a 5.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman Taffe sold 550 shares of Generac stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $218.83, for a total transaction of $120,356.50. Following the completion of the sale, the insider directly owned 15,508 shares of the company's stock, valued at $3,393,615.64. The trade was a 3.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 18,442 shares of company stock valued at $3,656,537. Company insiders own 2.40% of the company's stock.

Institutional Investors Weigh In On Generac

A number of institutional investors have recently bought and sold shares of GNRC. Apollon Wealth Management LLC boosted its holdings in Generac by 19.8% in the third quarter. Apollon Wealth Management LLC now owns 1,907 shares of the technology company's stock valued at $395,000 after acquiring an additional 315 shares during the last quarter. Townsend & Associates Inc grew its position in Generac by 0.8% during the third quarter. Townsend & Associates Inc now owns 120,341 shares of the technology company's stock valued at $23,187,000 after acquiring an additional 986 shares during the period. Hedeker Wealth LLC increased its stake in Generac by 1.2% during the third quarter. Hedeker Wealth LLC now owns 33,466 shares of the technology company's stock worth $6,926,000 after acquiring an additional 401 shares during the last quarter. Orange Investment Advisors Inc. increased its stake in Generac by 3.2% during the third quarter. Orange Investment Advisors Inc. now owns 8,393 shares of the technology company's stock worth $1,737,000 after acquiring an additional 259 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Generac by 13.5% in the 3rd quarter. Signaturefd LLC now owns 875 shares of the technology company's stock worth $181,000 after purchasing an additional 104 shares during the period. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

About Generac

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.

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