Generac (NYSE:GNRC) Stock Rating Upgraded by Wall Street Zen

Generac (NYSE:GNRC) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also recently issued reports on GNRC. Bank of America assumed coverage on shares of Generac in a research note on Monday, March 24th. They issued a “buy” rating and a $182.00 target price on the stock. Citigroup raised Generac from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $162.00 to $138.00 in a research note on Thursday, April 17th. Stifel Nicolaus reduced their target price on Generac from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. TD Securities lowered their price target on Generac from $173.00 to $155.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Finally, Wells Fargo & Company cut their price objective on Generac from $165.00 to $128.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $168.37.

Generac Price Performance

Generac stock opened at $127.95 on Friday. The firm has a market capitalization of $7.56 billion, a P/E ratio of 23.69, a PEG ratio of 1.44 and a beta of 1.70. Generac has a one year low of $99.50 and a one year high of $195.94. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97. The business has a fifty day moving average price of $118.17 and a 200-day moving average price of $140.36.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, April 30th. The technology company reported $1.26 EPS for the quarter, topping the consensus estimate of $0.99 by $0.27. Generac had a return on equity of 18.17% and a net margin of 7.36%. The business had revenue of $942.12 million during the quarter, compared to the consensus estimate of $921.78 million. During the same quarter last year, the company earned $0.88 EPS. The firm’s revenue was up 5.9% compared to the same quarter last year. As a group, equities research analysts forecast that Generac will post 8 EPS for the current year.

Institutional Investors Weigh In On Generac

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Generac by 82.5% during the fourth quarter. Blue Trust Inc. now owns 418 shares of the technology company’s stock valued at $66,000 after acquiring an additional 189 shares during the last quarter. Spire Wealth Management raised its position in Generac by 203.6% during the 4th quarter. Spire Wealth Management now owns 252 shares of the technology company’s stock valued at $39,000 after purchasing an additional 169 shares during the last quarter. abrdn plc lifted its holdings in Generac by 96.1% in the 4th quarter. abrdn plc now owns 9,009 shares of the technology company’s stock worth $1,397,000 after buying an additional 4,416 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Generac by 38.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,116 shares of the technology company’s stock worth $952,000 after buying an additional 1,692 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of Generac during the fourth quarter valued at approximately $186,000. 84.04% of the stock is currently owned by institutional investors.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.