Generac Holdings Inc. (NYSE:GNRC – Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $200.41 and last traded at $196.56, with a volume of 833075 shares trading hands. The stock had previously closed at $196.25.
Analyst Upgrades and Downgrades
Several research firms have issued reports on GNRC. Janney Montgomery Scott upgraded shares of Generac from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 7th. UBS Group restated a “buy” rating and set a $220.00 target price (up previously from $200.00) on shares of Generac in a research note on Thursday, July 31st. Stephens restated an “overweight” rating and set a $175.00 target price on shares of Generac in a research note on Tuesday, May 27th. Canaccord Genuity Group lowered their target price on shares of Generac from $200.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, TD Securities lowered their target price on shares of Generac from $173.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $170.06.
View Our Latest Report on Generac
Generac Stock Performance
Generac (NYSE:GNRC – Get Free Report) last released its earnings results on Wednesday, July 30th. The technology company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.32. Generac had a net margin of 7.91% and a return on equity of 19.14%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business earned $1.35 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. Sell-side analysts predict that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $142.40, for a total transaction of $712,000.00. Following the sale, the chief executive officer owned 562,966 shares in the company, valued at approximately $80,166,358.40. This trade represents a 0.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.70% of the company’s stock.
Institutional Investors Weigh In On Generac
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nebula Research & Development LLC bought a new stake in Generac during the 4th quarter worth approximately $3,638,000. Pinebridge Investments L.P. raised its stake in Generac by 28.1% during the 4th quarter. Pinebridge Investments L.P. now owns 68,993 shares of the technology company’s stock worth $10,697,000 after acquiring an additional 15,147 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Generac by 19.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,311 shares of the technology company’s stock valued at $929,000 after buying an additional 1,195 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Generac during the first quarter valued at approximately $245,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of Generac by 15.1% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 25,520 shares of the technology company’s stock valued at $3,232,000 after buying an additional 3,345 shares during the last quarter. Institutional investors own 84.04% of the company’s stock.
About Generac
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.
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