Generac (NYSE:GNRC) Stock Rating Upgraded by TD Cowen

Key Points

• TD Cowen upgraded Generac to “strong buy,” while the broader analyst consensus remains “moderate buy,” with an average price target of $290.45.
• Generac reported quarterly EPS of $2.91, beating expectations of $2.01, while revenue reached $1.17 billion and rose 10.3% year over year.
• Shares opened at $215.45, below their 12-month high of $296.44; institutional investors own 84.04% of the stock, while insiders have sold about $3.41 million worth of shares over the past 90 days.

Generac (NYSE:GNRC - Get Free Report) was upgraded by investment analysts at TD Cowen to a "strong-buy" rating in a report issued on Monday, Zacks reports.

GNRC has been the subject of several other reports. Zacks Research lowered shares of Generac from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. Roth Capital raised their target price on shares of Generac from $214.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, September 17th. Jefferies Financial Group restated a "buy" rating on shares of Generac in a research note on Thursday, September 17th. Citigroup lowered their target price on Generac from $300.00 to $232.00 and set a "neutral" rating for the company in a report on Wednesday, September 30th. Finally, Wells Fargo & Company set a $280.00 price target on Generac in a research report on Thursday, September 17th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $290.45.

Generac Price Performance

Shares of NYSE GNRC opened at $215.45 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $12.71 billion, a price-to-earnings ratio of 49.64, a price-to-earnings-growth ratio of 1.86 and a beta of 1.91. Generac has a twelve month low of $134.80 and a twelve month high of $296.44. The business has a 50 day simple moving average of $200.98 and a 200-day simple moving average of $226.25.

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

Insider Activity at Generac

In other Generac news, insider Norman Taffe sold 150 shares of the business's stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $229.50, for a total transaction of $34,425.00. Following the completion of the transaction, the insider directly owned 11,276 shares of the company's stock, valued at $2,587,842. The trade was a 1.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $206.00, for a total transaction of $1,030,000.00. Following the completion of the transaction, the chief executive officer owned 544,528 shares of the company's stock, valued at approximately $112,172,768. This trade represents a 0.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 17,289 shares of company stock worth $3,409,173 in the last ninety days. 2.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Generac

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. QRG Capital Management Inc. increased its position in Generac by 18.8% in the 2nd quarter. QRG Capital Management Inc. now owns 4,836 shares of the technology company's stock valued at $1,416,000 after acquiring an additional 764 shares during the period. Sequoia Financial Advisors LLC boosted its position in Generac by 5.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,417 shares of the technology company's stock worth $1,879,000 after acquiring an additional 341 shares during the period. Tidal Investments LLC boosted its position in Generac by 94.3% during the 2nd quarter. Tidal Investments LLC now owns 55,302 shares of the technology company's stock worth $16,193,000 after acquiring an additional 26,836 shares during the period. WINTON GROUP Ltd bought a new position in shares of Generac in the second quarter worth $1,260,000. Finally, Engineers Gate Manager LP bought a new position in shares of Generac in the second quarter worth $688,000. 84.04% of the stock is owned by institutional investors.

Generac Company Profile

Generac Holdings Inc is an energy technology company that designs and manufactures power generation equipment, energy storage systems and other products intended to provide backup and distributed energy solutions. Its offerings serve residential, commercial, industrial and other users seeking standby power, portable power or greater control over energy use.

The company's product portfolio includes home standby generators, portable generators, commercial and industrial generators, mobile power equipment, engines and related transfer switches and controls.

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