Key Points
- Generac insider Norman Taffe sold 300 shares for $54,603, reducing his holdings by 2.73%; the sale was made under a pre-arranged Rule 10b5-1 plan.
- Generac beat quarterly earnings expectations, reporting EPS of $2.54 versus $2.40 estimated, while revenue of $1.29 billion missed forecasts; revenue rose 16.2% year over year.
- Analysts have a consensus “Moderate Buy” rating and an average price target of $290.41. Shares traded at $176.13 in Friday midday trading.
Generac Holdings Inc. (NYSE:GNRC - Get Free Report) insider Norman Taffe sold 300 shares of the firm's stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $182.01, for a total value of $54,603.00. Following the completion of the transaction, the insider directly owned 10,676 shares of the company's stock, valued at $1,943,138.76. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Price Performance
GNRC stock traded up $3.80 during midday trading on Friday, hitting $176.13. 1,270,304 shares of the stock were exchanged, compared to its average volume of 1,179,782. The stock's 50-day moving average price is $197.79 and its 200-day moving average price is $218.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.06 and a current ratio of 1.97. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 1.72 and a beta of 1.86. Generac Holdings Inc. has a fifty-two week low of $134.80 and a fifty-two week high of $296.44.
Generac (NYSE:GNRC - Get Free Report) last posted its earnings results on Wednesday, October 28th. The technology company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.14. Generac had a return on equity of 18.78% and a net margin of 6.52%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the company earned $1.83 earnings per share. Generac's revenue was up 16.2% compared to the same quarter last year. Research analysts predict that Generac Holdings Inc. will post 9.84 earnings per share for the current year.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Roth Capital increased their price objective on shares of Generac from $214.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, September 17th. TD Cowen upgraded shares of Generac to a "strong-buy" rating in a research report on Monday, October 5th. Wells Fargo & Company set a $280.00 price target on shares of Generac in a report on Thursday, September 17th. UBS Group reiterated a "buy" rating on shares of Generac in a research report on Friday, September 25th. Finally, Piper Sandler cut their price objective on Generac from $303.00 to $279.00 and set an "overweight" rating for the company in a research report on Friday, October 23rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $290.41.
View Our Latest Stock Analysis on GNRC
Institutional Investors Weigh In On Generac
A number of hedge funds and other institutional investors have recently modified their holdings of GNRC. BlackRock Inc. acquired a new position in shares of Generac in the second quarter valued at approximately $1,170,960,000. Arrowstreet Capital Limited Partnership boosted its position in Generac by 9.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,038,493 shares of the technology company's stock worth $202,849,000 after acquiring an additional 86,863 shares during the last quarter. Bank of America Corp DE boosted its position in Generac by 19.7% during the first quarter. Bank of America Corp DE now owns 742,576 shares of the technology company's stock worth $145,047,000 after acquiring an additional 122,101 shares during the last quarter. Park Presidio Capital LLC purchased a new stake in Generac in the 2nd quarter worth approximately $158,140,000. Finally, Jennison Associates LLC grew its stake in Generac by 1.0% in the 1st quarter. Jennison Associates LLC now owns 520,628 shares of the technology company's stock worth $101,694,000 after acquiring an additional 4,985 shares during the period. 84.04% of the stock is currently owned by hedge funds and other institutional investors.
Generac Company Profile
(
Get Free Report)
Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.
The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.
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