Canaccord Genuity Upgrades Generac (NYSE:GNRC) to Buy

Generac (NYSE:GNRC) was upgraded by Canaccord Genuity from a “hold” rating to a “buy” rating in a research report issued on Friday, MarketBeat reports. The brokerage presently has a $200.00 price target on the technology company’s stock, up from their prior price target of $113.00. Canaccord Genuity’s target price points to a potential upside of 26.92% from the company’s previous close.

Several other research firms have also recently commented on GNRC. KeyCorp reiterated a “hold” rating on shares of Generac in a report on Monday, July 20th. Robert W. Baird upped their price target on shares of Generac from $117.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, June 19th. JPMorgan Chase & Co. began coverage on shares of Generac in a research report on Tuesday, July 21st. They issued an “overweight” rating and a $155.00 price target for the company. Roth Capital upped their price target on shares of Generac from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, Northcoast Research downgraded shares of Generac from a “buy” rating to a “neutral” rating in a research report on Friday, May 29th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $141.73.

Shares of NYSE GNRC traded up $9.74 during trading on Friday, hitting $157.58. The company had a trading volume of 1,066,614 shares, compared to its average volume of 619,634. The stock has a fifty day simple moving average of $123.91 and a two-hundred day simple moving average of $108.31. The company has a quick ratio of 1.34, a current ratio of 2.66 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 39.40, a price-to-earnings-growth ratio of 5.49 and a beta of 0.92. Generac has a fifty-two week low of $69.00 and a fifty-two week high of $157.65.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Thursday, July 30th. The technology company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.48. The firm had revenue of $546.80 million during the quarter, compared to analysts’ expectations of $476.86 million. Generac had a net margin of 11.55% and a return on equity of 32.25%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.20 earnings per share. On average, analysts anticipate that Generac will post 4.42 earnings per share for the current year.

In other Generac news, EVP Erik Wilde sold 10,092 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $117.07, for a total value of $1,181,470.44. Following the sale, the executive vice president now directly owns 15,649 shares in the company, valued at $1,832,028.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $124.63, for a total value of $623,150.00. Following the completion of the sale, the chief executive officer now owns 676,240 shares in the company, valued at $84,279,791.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,978 shares of company stock valued at $5,709,935. 2.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Grantham Mayo Van Otterloo & Co. LLC bought a new stake in shares of Generac during the first quarter valued at approximately $503,000. Guggenheim Capital LLC bought a new position in shares of Generac in the first quarter valued at approximately $1,116,000. Norges Bank bought a new position in shares of Generac in the fourth quarter valued at approximately $92,058,000. BNP Paribas Arbitrage SA grew its holdings in shares of Generac by 212.0% in the first quarter. BNP Paribas Arbitrage SA now owns 36,047 shares of the technology company’s stock valued at $3,358,000 after acquiring an additional 24,494 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Generac by 2,123.7% in the first quarter. Principal Financial Group Inc. now owns 191,127 shares of the technology company’s stock valued at $17,808,000 after acquiring an additional 182,532 shares in the last quarter. Institutional investors own 98.47% of the company’s stock.

About Generac

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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Analyst Recommendations for Generac (NYSE:GNRC)

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