Generac Holdlings Inc. (GNRC) Cut to Hold at Zacks Investment Research
Generac Holdlings Inc. (NYSE:GNRC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Generac Holdings Inc. is a manufacturer of backup power generation products serving residential, light commercial and industrial markets. The Company designs, engineers, manufactures, and markets a range of automatic, stationary standby, and portable generators. Generac’s power systems range in output from 800 watts to 9 megawatts and are available through a broad network of independent and industrial dealers, retailers and wholesalers. The Company offers generators fueled by natural gas, liquid propane, gasoline, diesel, and Bi-Fuel. It also provides air-cooled engines. In addition, Generac designs, manufactures, sources and modifies engines, alternators, automatic transfer switches and other components necessary for its products. The Company’s generators are fueled by natural gas, liquid propane, gasoline, diesel and Bi-Fuel (combined diesel and natural gas). Generac Holdings Inc. is headquartered in Waukesha, Wisconsin. “
A number of other research analysts have also weighed in on GNRC. BidaskClub upgraded shares of Generac Holdlings from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. TheStreet upgraded shares of Generac Holdlings from a “c+” rating to a “b-” rating in a research report on Wednesday, September 27th. Canaccord Genuity boosted their price target on shares of Generac Holdlings from $42.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, October 26th. Bank of America Corp set a $56.00 price target on shares of Generac Holdlings and gave the company a “buy” rating in a research report on Monday, October 23rd. Finally, Stifel Nicolaus restated a “hold” rating and set a $41.00 price target on shares of Generac Holdlings in a research report on Thursday, August 3rd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $51.86.
Generac Holdlings (NYSE GNRC) traded up 0.27% during mid-day trading on Tuesday, reaching $52.09. The company had a trading volume of 571,096 shares. The stock has a 50 day moving average price of $48.21 and a 200 day moving average price of $39.62. The company has a market capitalization of $3.24 billion, a P/E ratio of 31.12 and a beta of 1.40. Generac Holdlings has a one year low of $33.77 and a one year high of $52.63.
Generac Holdlings (NYSE:GNRC) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Generac Holdlings had a net margin of 7.00% and a return on equity of 46.60%. The business had revenue of $395.40 million during the quarter, compared to analyst estimates of $383.14 million. During the same period in the previous year, the business earned $0.64 EPS. Generac Holdlings’s revenue was up 7.6% compared to the same quarter last year. On average, equities analysts expect that Generac Holdlings will post $3.02 earnings per share for the current fiscal year.
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In other news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $47.76, for a total transaction of $238,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of GNRC. BlackRock Inc. lifted its holdings in shares of Generac Holdlings by 13,069.4% during the 1st quarter. BlackRock Inc. now owns 4,157,858 shares of the technology company’s stock worth $155,006,000 after acquiring an additional 4,126,286 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in shares of Generac Holdlings by 13.9% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 8,775,546 shares of the technology company’s stock worth $317,060,000 after acquiring an additional 1,069,401 shares during the last quarter. Shapiro Capital Management LLC bought a new stake in shares of Generac Holdlings during the 2nd quarter worth $37,696,000. Pictet Asset Management Ltd. bought a new stake in shares of Generac Holdlings during the 3rd quarter worth $40,510,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Generac Holdlings during the 2nd quarter worth $20,734,000. 97.05% of the stock is owned by institutional investors.
Generac Holdlings Company Profile
Generac Holdings Inc (Generac) is a designer and manufacturer of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business.
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