Q2 2024 EPS Estimates for Generac Holdings Inc. (NYSE:GNRC) Cut by Analyst

Generac Holdings Inc. (NYSE:GNRC) – Stock analysts at Northland Capmk reduced their Q2 2024 earnings estimates for Generac in a research note issued to investors on Thursday, May 2nd. Northland Capmk analyst D. Schafer now expects that the technology company will earn $1.38 per share for the quarter, down from their prior estimate of $1.55. The consensus estimate for Generac’s current full-year earnings is $6.12 per share. Northland Capmk also issued estimates for Generac’s Q3 2024 earnings at $1.91 EPS, Q4 2024 earnings at $2.26 EPS and FY2024 earnings at $6.43 EPS.

GNRC has been the topic of a number of other reports. Citigroup raised their price objective on Generac from $124.00 to $128.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Guggenheim lowered shares of Generac from a “buy” rating to a “neutral” rating in a report on Thursday, February 15th. Oppenheimer lifted their price objective on Generac from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Thursday. Canaccord Genuity Group lifted their target price on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, April 5th. Finally, Canaccord Genuity Group increased their target price on shares of Generac from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, April 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.40.

Generac Price Performance

Generac stock opened at $133.38 on Friday. The business has a 50-day simple moving average of $124.48 and a 200 day simple moving average of $118.08. Generac has a 52 week low of $79.86 and a 52 week high of $156.95. The stock has a market cap of $8.06 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 1.74 and a beta of 1.41. The company has a quick ratio of 0.94, a current ratio of 2.29 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. Generac had a net margin of 5.68% and a return on equity of 14.68%. The firm had revenue of $889.27 million during the quarter, compared to analyst estimates of $886.60 million. During the same period in the previous year, the business earned $0.63 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $126.94, for a total value of $634,700.00. Following the completion of the sale, the chief executive officer now owns 592,177 shares in the company, valued at $75,170,948.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Generac

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ariel Investments LLC boosted its position in shares of Generac by 14.9% in the third quarter. Ariel Investments LLC now owns 2,010,344 shares of the technology company’s stock worth $219,047,000 after purchasing an additional 261,050 shares during the period. Invesco Ltd. lifted its stake in shares of Generac by 9.9% during the 3rd quarter. Invesco Ltd. now owns 1,633,226 shares of the technology company’s stock valued at $177,956,000 after buying an additional 147,523 shares in the last quarter. Capital World Investors bought a new position in Generac in the 4th quarter worth $155,707,000. Impax Asset Management Group plc boosted its stake in shares of Generac by 3.3% in the third quarter. Impax Asset Management Group plc now owns 1,172,742 shares of the technology company’s stock worth $127,151,000 after acquiring an additional 37,846 shares during the period. Finally, Northern Trust Corp grew its position in shares of Generac by 9.0% during the third quarter. Northern Trust Corp now owns 673,384 shares of the technology company’s stock worth $73,372,000 after purchasing an additional 55,812 shares in the last quarter. 84.04% of the stock is owned by hedge funds and other 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.