Key Points
- Generac insider Norman Taffe sold 550 shares on July 6 at an average price of $256.00, totaling $140,800. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and Taffe’s ownership fell by 3.36% to 15,808 shares.
- Generac shares opened at $235.94, below both the 50-day moving average of $266.17 and the stock’s recent 52-week high of $296.44. The company also carries a market cap of $13.89 billion and a relatively high P/E ratio of 73.96.
- The company recently reported better-than-expected quarterly results, with EPS of $1.80 versus the $1.33 consensus and revenue of $1.06 billion, up 12.5% year over year. Analysts currently rate the stock a Moderate Buy with an average price target of $284.18.
Generac Holdings Inc. (NYSE:GNRC - Get Free Report) insider Norman Taffe sold 550 shares of Generac stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $256.00, for a total transaction of $140,800.00. Following the transaction, the insider directly owned 15,808 shares of the company's stock, valued at approximately $4,046,848. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Generac Price Performance
Shares of NYSE GNRC opened at $235.94 on Wednesday. The company has a 50 day simple moving average of $266.17 and a two-hundred day simple moving average of $215.81. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44. The company has a market capitalization of $13.89 billion, a price-to-earnings ratio of 73.96, a P/E/G ratio of 2.41 and a beta of 1.89. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03.
Generac (NYSE:GNRC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.47. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.Generac's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.26 EPS. Analysts expect that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have weighed in on GNRC. Argus increased their target price on Generac from $255.00 to $290.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Roth Capital restated a "neutral" rating and set a $257.00 price target on shares of Generac in a research note on Thursday, April 30th. Citigroup increased their price objective on shares of Generac from $263.00 to $300.00 and gave the stock a "neutral" rating in a research note on Thursday, July 2nd. Raymond James Financial set a $302.00 target price on shares of Generac in a research report on Friday, May 22nd. Finally, Zacks Research cut shares of Generac from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $284.18.
View Our Latest Research Report on Generac
Institutional Investors Weigh In On Generac
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in Generac by 49.9% during the 4th quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company's stock worth $330,557,000 after purchasing an additional 806,430 shares during the period. Diamant Asset Management Inc. lifted its holdings in shares of Generac by 19,433.0% in the 1st quarter. Diamant Asset Management Inc. now owns 666,075 shares of the technology company's stock worth $130,104,000 after buying an additional 662,665 shares during the period. Bank of Montreal Can grew its position in shares of Generac by 1,141.1% during the 4th quarter. Bank of Montreal Can now owns 695,600 shares of the technology company's stock worth $94,859,000 after buying an additional 639,551 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Generac by 127.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 959,337 shares of the technology company's stock valued at $130,825,000 after buying an additional 536,732 shares during the period. Finally, Norges Bank bought a new stake in shares of Generac in the fourth quarter valued at about $68,590,000. Institutional investors own 84.04% of the company's stock.
Generac Company Profile
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Get Free Report)
Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.
Generac's product lineup addresses a broad range of customer needs.
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