Generac (GNRC) Upgraded at Zacks Investment Research
Generac (NYSE:GNRC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm presently has a $54.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 19.92% from the stock’s current price.
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 brokerages also recently issued reports on GNRC. BidaskClub raised shares of Generac from a “hold” rating to a “buy” rating in a report on Thursday, October 26th. KeyCorp increased their price target on shares of Generac from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, October 20th. Stifel Nicolaus increased their price target on shares of Generac from $41.00 to $48.00 and gave the stock a “hold” rating in a report on Wednesday, October 18th. Canaccord Genuity increased their price target on shares of Generac from $50.00 to $54.00 and gave the stock a “hold” rating in a report on Thursday, November 2nd. Finally, Bank of America set a $56.00 price target on shares of Generac and gave the stock a “buy” rating in a report on Monday, October 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $51.55.
Generac (NYSE:GNRC) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $1.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.17. Generac had a net margin of 7.47% and a return on equity of 46.06%. The business had revenue of $488.00 million for the quarter, compared to the consensus estimate of $475.15 million. During the same period in the prior year, the firm earned $1.12 earnings per share. The company’s revenue was up 16.9% compared to the same quarter last year. equities research analysts anticipate that Generac will post 3.22 EPS for the current year.
In other news, CEO Aaron Jagdfeld sold 20,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $48.54, for a total value of $970,800.00. Following the sale, the chief executive officer now directly owns 969,911 shares of the company’s stock, valued at $47,079,479.94. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of GNRC. IFP Advisors Inc increased its position in shares of Generac by 26,222.2% in the third quarter. IFP Advisors Inc now owns 2,369 shares of the technology company’s stock worth $109,000 after purchasing an additional 2,360 shares during the last quarter. Macquarie Group Ltd. bought a new position in shares of Generac in the third quarter worth approximately $175,000. Financial Gravity Companies Inc. bought a new position in shares of Generac in the fourth quarter worth approximately $190,000. C M Bidwell & Associates Ltd. bought a new position in shares of Generac in the fourth quarter worth approximately $193,000. Finally, Rothschild Investment Corp IL bought a new position in shares of Generac in the fourth quarter worth approximately $203,000. Institutional investors own 96.23% of the company’s stock.
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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