Generac (NYSE:GNRC) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Generac (GNRC) from a "hold" to a "strong-buy," and several analysts raised price targets (UBS to $305); the consensus rating is a Moderate Buy with a consensus target of $270.31.
• Generac beat quarterly estimates, reporting $1.80 EPS vs. $1.33 expected and $1.06B revenue (up 12.5% YoY); the stock trades near its 52-week high and at a premium valuation (P/E ~83.6).
• CFO York A. Ragen sold 24,362 shares (~$5.74M), cutting his stake ~15%, while insiders own 2.7% of the company and institutions own about 84%.

Generac (NYSE:GNRC - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities research analysts have also commented on the stock. UBS Group upped their price target on shares of Generac from $270.00 to $305.00 and gave the company a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Generac from $229.00 to $267.00 and gave the company an "overweight" rating in a research report on Thursday, April 30th. Stephens reaffirmed an "overweight" rating and set a $290.00 target price on shares of Generac in a report on Friday, May 1st. Bank of America decreased their price target on shares of Generac from $260.00 to $248.00 and set a "buy" rating on the stock in a research report on Thursday, March 26th. Finally, Roth Mkm reissued a "neutral" rating and set a $257.00 price objective on shares of Generac in a research report on Thursday, April 30th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Generac has a consensus rating of "Moderate Buy" and a consensus target price of $270.31.

Generac Stock Performance

GNRC stock opened at $266.81 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. Generac has a 1 year low of $117.22 and a 1 year high of $269.58. The company has a market cap of $15.69 billion, a P/E ratio of 83.64, a price-to-earnings-growth ratio of 2.50 and a beta of 1.93. The stock's fifty day moving average price is $213.65 and its 200-day moving average price is $183.31.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.47. The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.Generac's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.26 earnings per share. On average, equities analysts forecast that Generac will post 8.91 earnings per share for the current year.

Insider Transactions at Generac

In related news, CFO York A. Ragen sold 24,362 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the completion of the sale, the chief financial officer directly owned 137,182 shares of the company's stock, valued at approximately $32,321,451.02. This represents a 15.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On Generac

A number of hedge funds have recently modified their holdings of GNRC. MUFG Securities EMEA plc bought a new stake in shares of Generac during the 2nd quarter valued at $25,000. Caitong International Asset Management Co. Ltd bought a new position in Generac in the 3rd quarter worth $26,000. First Horizon Corp bought a new position in Generac in the 3rd quarter worth $28,000. Sentry Investment Management LLC increased its stake in Generac by 69.8% in the 3rd quarter. Sentry Investment Management LLC now owns 163 shares of the technology company's stock worth $28,000 after buying an additional 67 shares in the last quarter. Finally, Avalon Trust Co purchased a new stake in Generac in the 1st quarter worth $32,000. 84.04% of the stock is currently owned by institutional investors.

About Generac

Generac Holdings Inc NYSE: GNRC is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac's product lineup addresses a broad range of customer needs.

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