Wall Street Zen Upgrades Generac (NYSE:GNRC) to Buy

Generac (NYSE:GNRC - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

Several other analysts have also recently issued reports on GNRC. Bank of America began coverage on Generac in a research note on Monday, March 24th. They issued a "buy" rating and a $182.00 target price on the stock. Piper Sandler lowered their target price on shares of Generac from $175.00 to $155.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Janney Montgomery Scott upgraded shares of Generac from a "neutral" rating to a "buy" rating in a report on Wednesday, May 7th. The Goldman Sachs Group decreased their price objective on shares of Generac from $193.00 to $168.00 and set a "buy" rating for the company in a report on Thursday, February 13th. Finally, Citigroup upgraded shares of Generac from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $162.00 to $138.00 in a report on Thursday, April 17th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $168.37.

Generac Stock Up 1.3%

GNRC opened at $127.95 on Friday. The stock has a market cap of $7.56 billion, a PE ratio of 23.69, a P/E/G ratio of 1.44 and a beta of 1.73. The company has a quick ratio of 0.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.48. Generac has a 52 week low of $99.50 and a 52 week high of $195.94. The business's fifty day simple moving average is $118.17 and its 200 day simple moving average is $140.93.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.27. Generac had a return on equity of 18.17% and a net margin of 7.36%. The firm had revenue of $942.12 million for the quarter, compared to analysts' expectations of $921.78 million. During the same period last year, the firm earned $0.88 earnings per share. The company's revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts expect that Generac will post 8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Generac

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in Generac by 82.5% in the 4th quarter. Blue Trust Inc. now owns 418 shares of the technology company's stock worth $66,000 after buying an additional 189 shares during the period. Spire Wealth Management boosted its holdings in shares of Generac by 203.6% during the 4th quarter. Spire Wealth Management now owns 252 shares of the technology company's stock valued at $39,000 after purchasing an additional 169 shares during the last quarter. abrdn plc lifted its holdings in shares of Generac by 96.1% in the 4th quarter. abrdn plc now owns 9,009 shares of the technology company's stock valued at $1,397,000 after acquiring an additional 4,416 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Generac by 38.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,116 shares of the technology company's stock valued at $952,000 after acquiring an additional 1,692 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Generac in the 4th quarter valued at about $186,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

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.

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