Generac (NYSE:GNRC) Upgraded by Guggenheim to Buy Rating

Key Points

• Generac has been upgraded from a "neutral" rating to a "buy" rating by Guggenheim, with a price target set at $190.00, indicating a potential upside of 22.15% from its prior close.
• Other analysts have mixed sentiments, with some lowering their targets and others maintaining "buy" ratings, leading to a consensus rating of "Moderate Buy" with an average price target of $165.85.
• Generac recently reported $1.26 earnings per share, exceeding estimates, and has seen a revenue increase of 5.9% year-over-year, showcasing strong financial performance despite market fluctuations.

Guggenheim upgraded shares of Generac (NYSE:GNRC - Free Report) from a neutral rating to a buy rating in a research report sent to investors on Tuesday morning, MarketBeat.com reports. They currently have $190.00 price objective on the technology company's stock.

Several other brokerages have also weighed in on GNRC. Stephens reaffirmed an "overweight" rating and issued a $175.00 target price on shares of Generac in a research report on Tuesday, May 27th. Barclays upped their target price on shares of Generac from $164.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. Robert W. Baird cut their price target on Generac from $171.00 to $127.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Citigroup upgraded Generac from a "neutral" rating to a "mixed" rating in a research report on Friday, July 11th. Finally, UBS Group cut their target price on Generac from $205.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $166.16.

Generac Stock Performance

Generac stock traded up $30.45 during trading hours on Tuesday, reaching $181.77. 4,932,998 shares of the stock were exchanged, compared to its average volume of 846,932. Generac has a 52-week low of $99.50 and a 52-week high of $195.94. The stock has a market cap of $10.74 billion, a P/E ratio of 31.67, a P/E/G ratio of 1.37 and a beta of 1.72. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.89 and a current ratio of 1.97. The firm's 50 day moving average is $138.01 and its 200 day moving average is $133.87.

Generac (NYSE:GNRC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.32. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.03 billion. Generac had a return on equity of 18.90% and a net margin of 7.68%. The business's revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.35 earnings per share. Analysts predict that Generac will post 8 EPS for the current fiscal year.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total value of $712,000.00. Following the completion of the sale, the chief executive officer owned 562,966 shares in the company, valued at $80,166,358.40. This represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Generac

Institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Generac by 1.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,456 shares of the technology company's stock worth $1,001,000 after purchasing an additional 72 shares in the last quarter. Pine Haven Investment Counsel Inc increased its holdings in Generac by 2.7% during the 2nd quarter. Pine Haven Investment Counsel Inc now owns 2,861 shares of the technology company's stock worth $410,000 after acquiring an additional 75 shares during the period. MetLife Investment Management LLC lifted its stake in Generac by 0.5% in the 4th quarter. MetLife Investment Management LLC now owns 17,004 shares of the technology company's stock worth $2,636,000 after purchasing an additional 77 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Generac by 81.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 172 shares of the technology company's stock valued at $25,000 after purchasing an additional 77 shares during the period. Finally, Alaethes Wealth LLC grew its position in shares of Generac by 0.7% during the 4th quarter. Alaethes Wealth LLC now owns 11,721 shares of the technology company's stock valued at $1,817,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 84.04% of the company's stock.

About Generac

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.