Bank of America Corporation upgraded shares of Generac Holdlings Inc. (NYSE:GNRC) from an underperform rating to a neutral rating in a research report sent to investors on Thursday, Marketbeat Ratings reports. They currently have $45.00 price target on the technology company’s stock, up from their prior price target of $34.00.
Several other research analysts have also issued reports on the company. BidaskClub upgraded Generac Holdlings from a sell rating to a hold rating in a research report on Wednesday, July 5th. Zacks Investment Research lowered Generac Holdlings from a hold rating to a sell rating in a research report on Monday, July 10th. ValuEngine lowered Generac Holdlings from a buy rating to a hold rating in a research report on Friday, June 2nd. Wolfe Research started coverage on Generac Holdlings in a research report on Tuesday, July 11th. They issued a market perform rating on the stock. Finally, Stifel Nicolaus restated a hold rating and issued a $41.00 price target on shares of Generac Holdlings in a research report on Thursday, August 3rd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $43.83.
Shares of Generac Holdlings (GNRC) opened at 41.80 on Thursday. The stock’s 50 day moving average price is $38.05 and its 200-day moving average price is $36.95. Generac Holdlings has a 12 month low of $33.77 and a 12 month high of $44.84. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 24.97 and a beta of 1.39.
Generac Holdlings (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.05. Generac Holdlings had a return on equity of 46.60% and a net margin of 7.00%. The business had revenue of $395.40 million for the quarter, compared to analyst estimates of $383.14 million. During the same period last year, the company earned $0.64 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. On average, equities research analysts predict that Generac Holdlings will post $2.95 EPS for the current fiscal year.
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In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $35.68, for a total transaction of $178,400.00. Following the sale, the chief executive officer now owns 1,044,911 shares of the company’s stock, valued at approximately $37,282,424.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 15,000 shares of company stock worth $563,100 in the last ninety days. 3.00% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its stake in Generac Holdlings by 51.8% during the 1st quarter. Victory Capital Management Inc. now owns 3,269 shares of the technology company’s stock worth $122,000 after buying an additional 1,116 shares during the period. Invictus RG raised its stake in Generac Holdlings by 940.9% during the 1st quarter. Invictus RG now owns 3,893 shares of the technology company’s stock worth $145,000 after buying an additional 3,519 shares during the period. Envestnet Asset Management Inc. raised its stake in Generac Holdlings by 93.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,813 shares of the technology company’s stock worth $179,000 after buying an additional 2,327 shares during the period. Karp Capital Management Corp acquired a new stake in Generac Holdlings during the 1st quarter worth $219,000. Finally, Public Employees Retirement System of Ohio raised its stake in Generac Holdlings by 10.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,873 shares of the technology company’s stock worth $212,000 after buying an additional 565 shares during the period. 96.64% of the stock is currently owned by institutional investors and hedge funds.
About Generac Holdlings
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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