Generac Holdings Inc. to Post Q3 2022 Earnings of $3.18 Per Share, KeyCorp Forecasts (NYSE:GNRC)

Generac Holdings Inc. (NYSE:GNRCGet Rating) – Equities research analysts at KeyCorp upped their Q3 2022 earnings estimates for shares of Generac in a report issued on Wednesday, August 3rd. KeyCorp analyst J. Hammond now forecasts that the technology company will post earnings of $3.18 per share for the quarter, up from their previous estimate of $3.14. KeyCorp currently has a “Overweight” rating and a $325.00 target price on the stock. The consensus estimate for Generac’s current full-year earnings is $11.75 per share. KeyCorp also issued estimates for Generac’s Q4 2022 earnings at $3.64 EPS and FY2022 earnings at $11.89 EPS.

Generac (NYSE:GNRCGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The technology company reported $2.99 EPS for the quarter, beating the consensus estimate of $2.65 by $0.34. Generac had a net margin of 12.28% and a return on equity of 29.42%. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the previous year, the business posted $2.39 EPS. The company’s quarterly revenue was up 40.3% on a year-over-year basis.

Several other analysts also recently weighed in on the stock. Roth Capital cut their price objective on shares of Generac from $555.00 to $320.00 and set a “buy” rating on the stock in a research report on Tuesday, May 24th. Canaccord Genuity Group cut their price objective on shares of Generac from $556.00 to $485.00 and set a “buy” rating on the stock in a research report on Thursday, May 5th. Piper Sandler dropped their price target on shares of Generac from $350.00 to $305.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 19th. Wells Fargo & Company initiated coverage on shares of Generac in a research report on Wednesday, June 29th. They set an “overweight” rating and a $285.00 price target on the stock. Finally, OTR Global downgraded shares of Generac from a “mixed” rating to a “negative” rating in a research report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $424.71.

Generac Trading Up 1.9 %

Shares of NYSE:GNRC opened at $248.13 on Friday. The company has a market cap of $15.84 billion, a PE ratio of 32.02, a P/E/G ratio of 2.12 and a beta of 1.28. The company’s 50-day moving average price is $239.10 and its 200 day moving average price is $262.52. Generac has a fifty-two week low of $197.94 and a fifty-two week high of $524.31. The company has a quick ratio of 0.71, a current ratio of 2.13 and a debt-to-equity ratio of 0.53.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GNRC. Signaturefd LLC grew its position in Generac by 260.2% during the first quarter. Signaturefd LLC now owns 479 shares of the technology company’s stock valued at $142,000 after purchasing an additional 346 shares in the last quarter. State Street Corp grew its position in Generac by 0.8% during the fourth quarter. State Street Corp now owns 2,591,402 shares of the technology company’s stock valued at $911,966,000 after purchasing an additional 20,575 shares in the last quarter. Sei Investments Co. grew its position in Generac by 20.0% during the fourth quarter. Sei Investments Co. now owns 117,678 shares of the technology company’s stock valued at $41,368,000 after purchasing an additional 19,576 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in Generac by 8.1% during the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 93,655 shares of the technology company’s stock valued at $32,959,000 after purchasing an additional 7,013 shares in the last quarter. Finally, NEXT Financial Group Inc grew its position in Generac by 26.7% during the fourth quarter. NEXT Financial Group Inc now owns 4,411 shares of the technology company’s stock valued at $1,552,000 after purchasing an additional 929 shares in the last quarter. 88.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $264.96, for a total value of $1,324,800.00. Following the transaction, the chief executive officer now directly owns 610,975 shares of the company’s stock, valued at $161,883,936. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.80% of the stock is currently owned by insiders.

Generac Company Profile

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Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.

Further Reading

Earnings History and Estimates for Generac (NYSE:GNRC)

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