Generac (NYSE:GNRC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage presently has a $91.00 price target on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.74% 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. “

Other equities research analysts have also issued reports about the stock. Canaccord Genuity upped their price target on shares of Generac from $74.00 to $80.00 and gave the company a “hold” rating in a report on Friday. Robert W. Baird raised Generac from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $64.00 to $86.00 in a report on Monday, July 1st. ValuEngine downgraded Generac from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Bank of America dropped their target price on Generac from $88.00 to $83.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $78.67.

NYSE GNRC traded down $0.15 during trading hours on Tuesday, reaching $80.72. The stock had a trading volume of 496,378 shares, compared to its average volume of 428,886. The stock has a fifty day moving average of $74.59 and a 200 day moving average of $62.62. The stock has a market cap of $4.98 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 2.56 and a beta of 1.18. Generac has a 52-week low of $45.43 and a 52-week high of $81.13. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.00 and a current ratio of 2.19.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. Generac had a net margin of 12.09% and a return on equity of 38.99%. The company had revenue of $541.90 million during the quarter, compared to analyst estimates of $538.96 million. During the same period last year, the firm posted $1.11 EPS. Generac’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities research analysts forecast that Generac will post 4.8 EPS for the current year.

In related news, EVP Erik Wilde sold 7,587 shares of Generac stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $71.44, for a total value of $542,015.28. Following the completion of the transaction, the executive vice president now owns 11,196 shares in the company, valued at approximately $799,842.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Russell S. Minick sold 10,328 shares of Generac stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $73.91, for a total value of $763,342.48. Following the completion of the transaction, the insider now owns 24,743 shares of the company’s stock, valued at approximately $1,828,755.13. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Hancock Whitney Corp lifted its position in shares of Generac by 4.1% during the 2nd quarter. Hancock Whitney Corp now owns 38,366 shares of the technology company’s stock valued at $2,663,000 after buying an additional 1,521 shares in the last quarter. Cresset Asset Management LLC increased its stake in shares of Generac by 28.6% during the second quarter. Cresset Asset Management LLC now owns 93,469 shares of the technology company’s stock worth $6,488,000 after purchasing an additional 20,772 shares in the last quarter. D L Carlson Investment Group Inc. acquired a new position in shares of Generac during the 2nd quarter worth about $4,734,000. Factorial Partners LLC acquired a new position in shares of Generac during the 2nd quarter worth about $167,000. Finally, Stonebridge Capital Advisors LLC purchased a new position in Generac in the 2nd quarter valued at about $69,000. Institutional investors and hedge funds own 96.54% of the company’s stock.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.

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