Generac (NYSE:GNRC) Stock Rating Lowered by Zacks Research

Generac (NYSE:GNRC) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

GNRC has been the subject of a number of other reports. Bank of America cut their price objective on shares of Generac from $260.00 to $248.00 and set a “buy” rating for the company in a research report on Thursday, March 26th. Jefferies Financial Group restated a “buy” rating on shares of Generac in a research report on Wednesday. Argus raised their price objective on shares of Generac from $255.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Wells Fargo & Company raised their price objective on shares of Generac from $238.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Finally, Needham & Company LLC restated a “buy” rating on shares of Generac in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.88.

Generac Price Performance

GNRC stock opened at $261.39 on Thursday. The firm has a 50 day moving average of $237.45 and a 200-day moving average of $197.55. The company has a current ratio of 2.03, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. Generac has a 12 month low of $123.66 and a 12 month high of $294.18. The firm has a market capitalization of $15.39 billion, a P/E ratio of 81.94, a price-to-earnings-growth ratio of 2.60 and a beta of 1.93.

Generac (NYSE:GNRC) last released its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.47. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the business earned $1.26 earnings per share. Generac’s revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts predict that Generac will post 8.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the sale, the chief executive officer directly owned 564,528 shares of the company’s stock, valued at $153,653,231.04. This trade represents a 0.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Generac

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. First Nebraska Trust Co purchased a new stake in Generac in the first quarter valued at approximately $7,199,000. Essential Partners LLC raised its stake in Generac by 57.0% in the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after purchasing an additional 61 shares in the last quarter. Western Wealth Management LLC purchased a new stake in Generac in the first quarter valued at approximately $285,000. Bank of America Corp DE raised its stake in Generac by 19.7% in the first quarter. Bank of America Corp DE now owns 742,576 shares of the technology company’s stock valued at $145,047,000 after purchasing an additional 122,101 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new stake in Generac in the first quarter valued at approximately $2,535,000. 84.04% of the stock is owned by hedge funds and other institutional investors.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.