Key Points
- Generac insider Norman Taffe sold 550 shares at an average price of $218.83, totaling $120,356.50. The sale, conducted under a pre-arranged Rule 10b5-1 plan, reduced his ownership by 3.43% to 15,508 shares.
- Generac shares opened at $211.21, down 2.9%, with a market capitalization of $12.46 billion. The stock trades at a P/E ratio of 48.67 and has ranged between $134.80 and $296.44 over the past year.
- The company exceeded quarterly earnings expectations, reporting $2.91 in EPS versus the $2.01 consensus, while revenue rose 10.3% year over year to $1.17 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $284.84.
Generac Holdings Inc. (NYSE:GNRC - Get Free Report) insider Norman Taffe sold 550 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $218.83, for a total value of $120,356.50. Following the completion of the sale, the insider owned 15,508 shares of the company's stock, valued at $3,393,615.64. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Generac Stock Down 2.9%
Shares of GNRC opened at $211.21 on Friday. The company has a market capitalization of $12.46 billion, a PE ratio of 48.67, a PEG ratio of 1.88 and a beta of 1.92. Generac Holdings Inc. has a 12 month low of $134.80 and a 12 month high of $296.44. The stock's 50-day moving average price is $245.49 and its two-hundred day moving average price is $226.32. The company has a current ratio of 2.04, a quick ratio of 1.00 and a debt-to-equity ratio of 0.43.
Generac (NYSE:GNRC - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The technology company reported $2.91 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.90. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. Generac had a return on equity of 17.83% and a net margin of 5.82%.The business's revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.65 EPS. On average, analysts anticipate that Generac Holdings Inc. will post 9.63 EPS for the current year.
Analyst Ratings Changes
Several research analysts have issued reports on the stock. Raymond James Financial set a $302.00 price target on shares of Generac in a report on Friday, May 22nd. Citigroup upped their price objective on shares of Generac from $263.00 to $300.00 and gave the company a "neutral" rating in a research note on Thursday, July 2nd. Stifel Nicolaus increased their price objective on shares of Generac from $275.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Jefferies Financial Group reissued a "buy" rating on shares of Generac in a research note on Wednesday, June 3rd. Finally, UBS Group boosted their target price on shares of Generac from $335.00 to $340.00 and gave the company a "buy" rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $284.84.
Get Our Latest Stock Report on GNRC
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the stock. N.E.W. Advisory Services LLC acquired a new stake in Generac in the second quarter worth $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Generac during the third quarter valued at about $26,000. Avalon Trust Co bought a new position in shares of Generac during the 1st quarter worth about $32,000. Essential Partners LLC boosted its position in shares of Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company's stock worth $33,000 after purchasing an additional 61 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Generac in the 2nd quarter valued at about $25,000. 84.04% of the stock is owned by institutional investors.
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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