Generac (NYSE:GNRC - Get Rating) was downgraded by stock analysts at Bank of America from a "buy" rating to a "neutral" rating in a report issued on Thursday, MarketBeat Ratings reports.
GNRC has been the subject of a number of other research reports. Cowen began coverage on Generac in a report on Friday, September 30th. They set an "outperform" rating and a $229.00 price objective for the company. Credit Suisse Group lowered their price objective on shares of Generac to $394.00 in a research report on Tuesday, August 9th. Wells Fargo & Company began coverage on shares of Generac in a research report on Wednesday, June 29th. They set an "overweight" rating and a $285.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Generac from $415.00 to $421.00 and gave the stock an "overweight" rating in a research note on Monday, August 8th. Finally, Oppenheimer reduced their price objective on shares of Generac from $360.00 to $345.00 and set an "outperform" rating on the stock in a research note on Monday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $390.00.
Generac Trading Down 2.4 %
Generac stock traded down $4.20 during mid-day trading on Thursday, hitting $174.48. 21,316 shares of the company's stock were exchanged, compared to its average volume of 1,767,268. The firm has a market capitalization of $11.14 billion, a P/E ratio of 22.40, a PEG ratio of 1.55 and a beta of 1.38. Generac has a fifty-two week low of $167.11 and a fifty-two week high of $524.31. The company has a quick ratio of 1.07, a current ratio of 2.13 and a debt-to-equity ratio of 0.53. The company's 50 day simple moving average is $226.59 and its 200-day simple moving average is $240.96.
Generac (NYSE:GNRC - Get Rating) last released its quarterly earnings results on Wednesday, August 3rd. The technology company reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.34. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.26 billion. Generac had a return on equity of 29.42% and a net margin of 12.28%. The company's revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter last year, the business posted $2.39 EPS. On average, equities analysts anticipate that Generac will post 11.93 earnings per share for the current year.
Insiders Place Their Bets
In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $264.96, for a total transaction of $1,324,800.00. Following the transaction, the chief executive officer now owns 610,975 shares of the company's stock, valued at approximately $161,883,936. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.80% of the company's stock.
Hedge Funds Weigh In On Generac
Hedge funds have recently modified their holdings of the company. Millennium Management LLC increased its stake in shares of Generac by 131.6% during the 4th quarter. Millennium Management LLC now owns 90,641 shares of the technology company's stock worth $31,898,000 after purchasing an additional 51,496 shares during the last quarter. Laurel Wealth Advisors Inc. purchased a new stake in shares of Generac during the 4th quarter worth approximately $261,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Generac during the 4th quarter worth approximately $4,418,000. Silvercrest Asset Management Group LLC increased its stake in shares of Generac by 100.5% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 6,554 shares of the technology company's stock worth $2,307,000 after purchasing an additional 3,285 shares during the last quarter. Finally, Seven Eight Capital LP purchased a new stake in shares of Generac during the 4th quarter worth approximately $447,000. Institutional investors own 90.40% of the company's stock.
Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.
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