BidaskClub upgraded shares of Generac Holdlings Inc. (NYSE:GNRC) from a hold rating to a buy rating in a research note issued to investors on Friday.
Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded Generac Holdlings from a hold rating to a sell rating in a research note on Monday, July 10th. ValuEngine downgraded Generac Holdlings from a buy rating to a hold rating in a research note on Friday, June 2nd. Wolfe Research initiated coverage on Generac Holdlings in a research note on Tuesday, July 11th. They set a market perform rating for the company. Stifel Nicolaus restated a hold rating and set a $41.00 target price on shares of Generac Holdlings in a research note on Thursday, August 3rd. Finally, Bank of America Corporation upgraded Generac Holdlings from an underperform rating to a neutral rating and increased their target price for the company from $34.00 to $45.00 in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $43.83.
Generac Holdlings (NYSE GNRC) opened at 41.80 on Friday. The firm has a 50 day moving average price of $38.05 and a 200-day moving average price of $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 announced its earnings results on Wednesday, August 2nd. The technology company reported $0.69 earnings per share for the quarter, beating the 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 firm had revenue of $395.40 million during the quarter, compared to the consensus estimate of $383.14 million. During the same quarter in the prior year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts forecast that Generac Holdlings will post $2.95 EPS for the current year.
In other Generac Holdlings news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $35.68, for a total value of $178,400.00. Following the completion of the sale, the chief executive officer now owns 1,044,911 shares in the company, valued at approximately $37,282,424.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 15,000 shares of company stock valued at $563,100 in the last quarter. Corporate insiders own 3.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the business. EdgePoint Investment Group Inc. lifted its position in shares of Generac Holdlings by 13.9% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 8,775,546 shares of the technology company’s stock worth $317,060,000 after acquiring an additional 1,069,401 shares during the period. Vanguard Group Inc. lifted its position in shares of Generac Holdlings by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 5,162,329 shares of the technology company’s stock worth $192,452,000 after acquiring an additional 177,943 shares during the period. BlackRock Inc. lifted its position in shares of Generac Holdlings by 13,069.4% in the 1st quarter. BlackRock Inc. now owns 4,157,858 shares of the technology company’s stock worth $155,006,000 after acquiring an additional 4,126,286 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Generac Holdlings by 29.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,294,301 shares of the technology company’s stock worth $82,893,000 after acquiring an additional 515,905 shares during the period. Finally, FMR LLC lifted its position in shares of Generac Holdlings by 2.2% in the 1st quarter. FMR LLC now owns 2,032,333 shares of the technology company’s stock worth $75,765,000 after acquiring an additional 44,633 shares during the period. Institutional investors own 96.64% of the company’s stock.
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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