Generac (NYSE:GNRC) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Generac (NYSE:GNRC) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Zacks.com reports.

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. “

A number of other equities analysts have also recently commented on the company. Canaccord Genuity raised their target price on Generac from $74.00 to $80.00 and gave the company a hold rating in a report on Friday, September 6th. Robert W. Baird upgraded Generac from a neutral rating to an outperform rating and raised their target price for the company from $64.00 to $86.00 in a report on Monday, July 1st. ValuEngine cut Generac from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, Bank of America restated a buy rating and set a $88.00 target price on shares of Generac in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $82.60.

Shares of Generac stock opened at $82.49 on Tuesday. The business has a 50-day moving average of $79.06 and a 200 day moving average of $66.82. Generac has a 12 month low of $45.43 and a 12 month high of $88.22. The stock has a market capitalization of $4.79 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 2.46 and a beta of 1.15. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.19 and a quick ratio of 1.00.

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

In other news, insider Russell S. Minick sold 10,328 shares of Generac stock in a transaction dated Friday, August 16th. The stock was 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 in the company, valued at approximately $1,828,755.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Erik Wilde sold 7,587 shares of Generac stock in a transaction dated Tuesday, August 6th. The shares were 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 of the company’s stock, valued at approximately $799,842.24. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Impax Asset Management Group plc boosted its stake in shares of Generac by 31.8% in the 2nd quarter. Impax Asset Management Group plc now owns 1,352,289 shares of the technology company’s stock valued at $93,862,000 after buying an additional 326,138 shares during the period. Greenwood Capital Associates LLC boosted its stake in shares of Generac by 44.7% in the 2nd quarter. Greenwood Capital Associates LLC now owns 10,509 shares of the technology company’s stock valued at $729,000 after buying an additional 3,244 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Generac by 4.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 66,722 shares of the technology company’s stock worth $4,631,000 after acquiring an additional 3,106 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Generac during the 2nd quarter worth about $520,000. Finally, AlphaCrest Capital Management LLC acquired a new stake in shares of Generac during the 1st quarter worth about $518,000. Institutional investors and hedge funds own 95.56% 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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