Generac (NYSE:GNRC) Hits New 12-Month High on Strong Earnings

Key Points

• Generac Holdings Inc. reached a new 52-week high of $196.61 following a stronger-than-expected earnings report, with an EPS of $1.65, exceeding estimates by $0.32.
• Several analysts have issued upgrades and downgrades, with price targets ranging from $155 to $200; the stock currently holds an average rating of "Moderate Buy."
• CEO Aaron Jagdfeld sold 5,000 shares of the company at $142.40, resulting in a 0.88% decrease in ownership, but he still retains over 562,000 shares valued at approximately $80.2 million.

Generac Holdings Inc. (NYSE:GNRC - Get Free Report) shares reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $196.61 and last traded at $195.82, with a volume of 2008027 shares trading hands. The stock had previously closed at $181.00.

The technology company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.33 by $0.32. The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.03 billion. Generac had a net margin of 7.68% and a return on equity of 18.90%. Generac's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.35 earnings per share.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GNRC shares. Piper Sandler decreased their price objective on shares of Generac from $175.00 to $155.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Canaccord Genuity Group lowered their target price on Generac from $200.00 to $180.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Guggenheim upgraded Generac from a "neutral" rating to a "buy" rating and set a $190.00 price target for the company in a research report on Tuesday. Barclays set a $200.00 price target on Generac and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, Citigroup upgraded shares of Generac from a "neutral" rating to a "mixed" rating in a research note on Friday, July 11th. Six equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $174.58.

Insider Buying and Selling at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total transaction of $712,000.00. Following the transaction, the chief executive officer directly owned 562,966 shares of the company's stock, valued at $80,166,358.40. The trade was a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On Generac

Several large investors have recently bought and sold shares of GNRC. Hurley Capital LLC purchased a new position in Generac during the 4th quarter worth $26,000. MassMutual Private Wealth & Trust FSB raised its position in Generac by 81.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company's stock worth $25,000 after acquiring an additional 77 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Generac in the first quarter worth $28,000. Creative Capital Management Investments LLC boosted its stake in shares of Generac by 740.7% during the second quarter. Creative Capital Management Investments LLC now owns 227 shares of the technology company's stock valued at $33,000 after acquiring an additional 200 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Generac by 61.7% in the 4th quarter. Quadrant Capital Group LLC now owns 228 shares of the technology company's stock valued at $35,000 after purchasing an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.

Generac Price Performance

The company's 50 day simple moving average is $139.18 and its 200-day simple moving average is $134.20. The company has a current ratio of 1.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $11.56 billion, a price-to-earnings ratio of 34.00, a PEG ratio of 1.37 and a beta of 1.72.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.