Generac (NYSE:GNRC) Stock Rating Upgraded by Northcoast Research

Generac (NYSE:GNRC) was upgraded by analysts at Northcoast Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, The Fly reports. Northcoast Research also issued estimates for Generac’s Q2 2020 earnings at $0.92 EPS, Q3 2020 earnings at $1.23 EPS, Q4 2020 earnings at $1.42 EPS, FY2020 earnings at $4.44 EPS, Q1 2021 earnings at $0.87 EPS, Q2 2021 earnings at $1.25 EPS, Q3 2021 earnings at $1.55 EPS, Q4 2021 earnings at $1.77 EPS and FY2021 earnings at $5.44 EPS.

Other research analysts have also issued reports about the company. Canaccord Genuity raised Generac from a “hold” rating to a “buy” rating and boosted their price target for the stock from $113.00 to $200.00 in a research report on Friday. Roth Capital boosted their price target on Generac from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. KeyCorp reissued a “hold” rating on shares of Generac in a research report on Monday, July 20th. Zacks Investment Research upgraded Generac from a “hold” rating to a “buy” rating and set a $137.00 target price on the stock in a research note on Wednesday, July 1st. Finally, JPMorgan Chase & Co. initiated coverage on Generac in a research note on Tuesday, July 21st. They set an “overweight” rating and a $155.00 target price on the stock. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $141.73.

NYSE GNRC traded up $9.74 on Friday, reaching $157.58. 1,066,614 shares of the stock traded hands, compared to its average volume of 619,634. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.34 and a current ratio of 2.66. The company has a fifty day moving average price of $123.91 and a 200-day moving average price of $108.31. The company has a market cap of $9.88 billion, a price-to-earnings ratio of 39.40, a PEG ratio of 5.49 and a beta of 0.92. Generac has a 12 month low of $69.00 and a 12 month high of $157.65.

Generac (NYSE:GNRC) last released its quarterly earnings results on Thursday, July 30th. The technology company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.48. The firm had revenue of $546.80 million during the quarter, compared to analyst estimates of $476.86 million. Generac had a return on equity of 32.25% and a net margin of 11.55%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.20 EPS. As a group, research analysts anticipate that Generac will post 4.42 earnings per share for the current fiscal year.

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $124.63, for a total transaction of $623,150.00. Following the sale, the chief executive officer now owns 676,240 shares in the company, valued at approximately $84,279,791.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO York A. Ragen sold 6,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $103.92, for a total value of $623,520.00. Following the sale, the chief financial officer now owns 130,312 shares in the company, valued at approximately $13,542,023.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,978 shares of company stock worth $5,709,935. Company insiders own 2.90% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Cornerstone Advisors Inc. lifted its holdings in shares of Generac by 1,240.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 201 shares of the technology company’s stock valued at $25,000 after buying an additional 186 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Generac by 158.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 233 shares of the technology company’s stock valued at $28,000 after buying an additional 143 shares during the period. OmniStar Financial Group Inc. acquired a new position in shares of Generac in the 1st quarter valued at about $29,000. Exchange Traded Concepts LLC acquired a new position in shares of Generac in the 1st quarter valued at about $34,000. Finally, Canton Hathaway LLC acquired a new position in shares of Generac in the 2nd quarter valued at about $46,000. 98.47% of the stock is owned by institutional investors and hedge funds.

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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The Fly

Analyst Recommendations for Generac (NYSE:GNRC)

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