Generac (NYSE:GNRC) Coverage Initiated by Analysts at Needham & Company LLC

Needham & Company LLC initiated coverage on shares of Generac (NYSE:GNRC) in a research note released on Monday,Benzinga reports. The firm issued a buy rating and a $211.00 price objective on the technology company’s stock.

Several other equities analysts have also recently issued reports on GNRC. JPMorgan Chase & Co. upgraded Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price target on the stock in a report on Monday, December 8th. Wells Fargo & Company set a $195.00 target price on shares of Generac in a research report on Friday, December 19th. Wall Street Zen cut shares of Generac from a “buy” rating to a “hold” rating in a research report on Sunday, September 28th. Citigroup raised shares of Generac from a “neutral” rating to a “buy” rating and set a $207.00 price target for the company in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Generac in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $196.39.

Generac Trading Up 2.5%

GNRC opened at $156.58 on Monday. Generac has a 1-year low of $99.50 and a 1-year high of $203.25. The stock has a market capitalization of $9.19 billion, a PE ratio of 29.83, a PEG ratio of 1.25 and a beta of 1.82. The company has a current ratio of 2.18, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $149.92 and a two-hundred day moving average price of $166.38.

Generac (NYSE:GNRC) last released its quarterly earnings results on Wednesday, October 29th. The technology company reported $1.83 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.42). Generac had a net margin of 6.92% and a return on equity of 17.63%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the company earned $2.25 earnings per share. Generac’s revenue for the quarter was down 5.0% compared to the same quarter last year. As a group, equities analysts anticipate that Generac will post 8 earnings per share for the current fiscal year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $166.43, for a total transaction of $832,150.00. Following the sale, the chief executive officer owned 542,966 shares of the company’s stock, valued at approximately $90,365,831.38. This trade represents a 0.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Generac

Several large investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in Generac by 2.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 361,189 shares of the technology company’s stock valued at $51,728,000 after purchasing an additional 10,325 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Generac during the 2nd quarter worth about $217,000. Acadian Asset Management LLC boosted its holdings in shares of Generac by 37.3% during the 1st quarter. Acadian Asset Management LLC now owns 10,429 shares of the technology company’s stock worth $1,320,000 after buying an additional 2,834 shares during the period. Rothschild Investment LLC grew its stake in Generac by 95.9% in the 2nd quarter. Rothschild Investment LLC now owns 6,405 shares of the technology company’s stock valued at $917,000 after buying an additional 3,135 shares during the last quarter. Finally, Lonestar Capital Management LLC bought a new position in Generac in the 2nd quarter valued at about $4,296,000. 84.04% of the stock is currently owned by institutional investors.

Generac Company Profile

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.