Generac (NYSE:GNRC) Upgraded by Wall Street Zen to Strong-Buy Rating

Key Points

• Wall Street Zen upgraded Generac from “hold” to “strong-buy,” adding to a generally bullish analyst backdrop for the stock.
• Other firms have also been active on Generac, with price targets ranging up to $290 and the consensus rating sitting at Moderate Buy with an average target of $270.31.
• Generac’s latest quarterly results beat expectations, posting $1.80 EPS on $1.06 billion in revenue, while revenue rose 12.5% year over year.

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

Several other research analysts have also recently issued reports on the company. Citigroup upped their price target on Generac from $226.00 to $263.00 and gave the company a "neutral" rating in a report on Tuesday. Jefferies Financial Group started coverage on shares of Generac in a research note on Friday, March 20th. They set a "hold" rating and a $222.00 target price on the stock. Stephens reissued an "overweight" rating and set a $290.00 target price on shares of Generac in a research note on Friday, May 1st. Stifel Nicolaus set a $275.00 target price on shares of Generac in a research note on Thursday, April 30th. Finally, Roth Mkm reissued a "neutral" rating and set a $257.00 target price on shares of Generac in a research note on Thursday, April 30th. Two equities 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $270.31.

Generac Price Performance

NYSE GNRC opened at $268.88 on Friday. The stock has a market capitalization of $15.83 billion, a P/E ratio of 84.29, a P/E/G ratio of 2.50 and a beta of 1.93. Generac has a 1 year low of $118.09 and a 1 year high of $272.40. The business's fifty day moving average is $213.65 and its two-hundred day moving average is $183.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03.

Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.47. The company had revenue of $1.06 billion for 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%.The firm's revenue was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.26 earnings per share. On average, research analysts forecast that Generac will post 8.91 earnings per share for the current fiscal year.

Insider Activity at Generac

In other news, CFO York A. Ragen sold 24,362 shares of the business's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the transaction, the chief financial officer directly owned 137,182 shares in the company, valued at $32,321,451.02. The trade was a 15.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Generac

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