Northland Capmk Analysts Lower Earnings Estimates for Generac Holdings Inc. (NYSE:GNRC)

Generac Holdings Inc. (NYSE:GNRC - Free Report) - Equities researchers at Northland Capmk lowered their Q2 2024 earnings estimates for shares of Generac in a research note issued on Thursday, May 2nd. Northland Capmk analyst D. Schafer now anticipates that the technology company will earn $1.38 per share for the quarter, down from their prior forecast of $1.55. The consensus estimate for Generac's current full-year earnings is $6.12 per share. Northland Capmk also issued estimates for Generac's Q3 2024 earnings at $1.91 EPS, Q4 2024 earnings at $2.26 EPS and FY2024 earnings at $6.43 EPS.

Several other equities research analysts have also commented on the stock. UBS Group reduced their price target on shares of Generac from $160.00 to $150.00 and set a "buy" rating for the company in a report on Thursday, February 15th. Robert W. Baird increased their target price on Generac from $112.00 to $129.00 and gave the company a "neutral" rating in a research report on Thursday, February 15th. TD Cowen reduced their price target on Generac from $165.00 to $144.00 and set an "outperform" rating for the company in a research report on Thursday, February 15th. Citigroup raised their price objective on Generac from $124.00 to $128.00 and gave the company a "neutral" rating in a research report on Monday, February 12th. Finally, Canaccord Genuity Group boosted their target price on shares of Generac from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $142.40.

Generac Stock Up 3.7 %

Shares of GNRC stock traded up $4.72 on Friday, hitting $133.38. The stock had a trading volume of 1,278,435 shares, compared to its average volume of 1,104,648. Generac has a one year low of $79.86 and a one year high of $156.95. The business has a 50 day moving average price of $124.07 and a 200 day moving average price of $117.85. The company has a market cap of $8.06 billion, a PE ratio of 35.44, a P/E/G ratio of 1.74 and a beta of 1.41. The company has a quick ratio of 0.94, a current ratio of 2.29 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.16. Generac had a return on equity of 14.68% and a net margin of 5.68%. The company had revenue of $889.27 million for the quarter, compared to analysts' expectations of $886.60 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Generac's revenue was up .2% compared to the same quarter last year.

Insider Buying and Selling

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $126.94, for a total transaction of $634,700.00. Following the completion of the transaction, the chief executive officer now owns 592,177 shares of the company's stock, valued at $75,170,948.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Generac

A number of hedge funds and other institutional investors have recently made changes to their positions in GNRC. ICA Group Wealth Management LLC purchased a new position in shares of Generac in the 4th quarter valued at about $27,000. Headlands Technologies LLC purchased a new position in shares of Generac during the 3rd quarter valued at approximately $28,000. BKM Wealth Management LLC purchased a new stake in Generac in the 4th quarter worth $28,000. ORG Partners LLC acquired a new position in Generac during the fourth quarter worth $38,000. Finally, Quarry LP lifted its holdings in Generac by 219.6% during the fourth quarter. Quarry LP now owns 294 shares of the technology company's stock valued at $38,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company's stock.

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.