Generac (NYSE:GNRC) Upgraded to "Strong-Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Generac to “strong-buy” from “buy.” Overall analyst sentiment remains “Moderate Buy,” with an average price target of $290.55.
• Generac reported quarterly EPS of $2.91, beating estimates of $2.01, while revenue reached $1.17 billion and increased 10.3% year over year.
• The stock opened at $192.35, below its 50-day and 200-day moving averages. Insiders sold $3.66 million of shares over the past 90 days, while institutional investors own 84.04% of the company.

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

GNRC has been the subject of a number of other research reports. UBS Group reiterated a "buy" rating on shares of Generac in a research note on Friday, September 25th. Stephens reiterated an "overweight" rating and set a $335.00 target price on shares of Generac in a research note on Thursday, September 17th. Piper Sandler initiated coverage on Generac in a research note on Thursday, October 8th. They set an "overweight" rating and a $303.00 price target for the company. Weiss Ratings upgraded shares of Generac from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Finally, Zacks Research cut Generac from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 28th. 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 company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $290.55.

Generac Stock Performance

NYSE GNRC opened at $192.35 on Friday. The stock has a fifty day simple moving average of $202.50 and a 200-day simple moving average of $226.83. 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 stock has a market cap of $11.35 billion, a PE ratio of 24.34, a P/E/G ratio of 1.70 and a beta of 1.91. Generac has a twelve month low of $134.80 and a twelve month high of $296.44.

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

Insiders Place Their Bets

In other Generac news, insider Norman P. Taffe sold 150 shares of the company's stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $220.00, for a total value of $33,000.00. Following the completion of the transaction, the insider directly owned 10,976 shares of the company's stock, valued at $2,414,720. This represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of the stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $212.57, for a total value of $128,179.71. Following the completion of the transaction, the insider directly owned 9,966 shares of the company's stock, valued at $2,118,472.62. This represents a 5.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,442 shares of company stock worth $3,656,537 over the last ninety days. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Generac

A number of institutional investors have recently made changes to their positions in GNRC. New England Research & Management Inc. bought a new stake in Generac in the third quarter valued at $641,000. Vontobel Holding Ltd. boosted its position in shares of Generac by 12.2% during the third quarter. Vontobel Holding Ltd. now owns 4,405 shares of the technology company's stock worth $912,000 after buying an additional 480 shares during the period. TD Waterhouse Canada Inc. boosted its position in Generac by 3.8% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 13,322 shares of the technology company's stock worth $2,770,000 after acquiring an additional 491 shares during the period. V Square Quantitative Management LLC lifted its holdings in Generac by 45.5% in the third quarter. V Square Quantitative Management LLC now owns 1,880 shares of the technology company's stock worth $389,000 after purchasing an additional 588 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Generac by 20.7% in the third quarter. Assenagon Asset Management S.A. now owns 36,833 shares of the technology company's stock valued at $7,623,000 after acquiring an additional 6,318 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors.

About Generac

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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