Generac (NYSE:GNRC) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Generac (NYSE:GNRC) from a hold rating to a strong sell rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Needham & Company LLC began coverage on shares of Generac in a research note on Monday, January 12th. They issued a “buy” rating and a $211.00 target price for the company. JPMorgan Chase & Co. raised Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price target for the company in a report on Monday, December 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Generac in a research report on Wednesday, October 8th. Canaccord Genuity Group decreased their price objective on shares of Generac from $240.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, January 13th. Finally, Citigroup raised shares of Generac from a “neutral” rating to a “buy” rating and set a $207.00 target price for the company in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and a consensus target price of $195.29.

Generac Stock Performance

Shares of NYSE:GNRC opened at $172.96 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.18 and a quick ratio of 1.02. The business’s fifty day moving average price is $151.48 and its two-hundred day moving average price is $167.18. Generac has a fifty-two week low of $99.50 and a fifty-two week high of $203.25. The stock has a market capitalization of $10.15 billion, a price-to-earnings ratio of 32.95, a price-to-earnings-growth ratio of 1.43 and a beta of 1.82.

Generac (NYSE:GNRC) last issued its 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). The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.20 billion. Generac had a net margin of 6.92% and a return on equity of 17.63%. The firm’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.25 EPS. As a group, analysts predict that Generac will post 8 EPS for the current fiscal year.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $166.43, for a total value of $832,150.00. Following the transaction, the chief executive officer directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Generac

Institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA bought a new stake in shares of Generac in the 3rd quarter valued at $70,744,000. JPMorgan Chase & Co. lifted its holdings in shares of 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 in the last quarter. Valeo Financial Advisors LLC bought a new position in shares of Generac during the 2nd quarter valued at about $217,000. Annex Advisory Services LLC grew its position in shares of Generac by 9.2% in the 3rd quarter. Annex Advisory Services LLC now owns 194,519 shares of the technology company’s stock valued at $32,562,000 after purchasing an additional 16,386 shares during the period. Finally, Paradice Investment Management LLC increased its stake in Generac by 27.4% during the 3rd quarter. Paradice Investment Management LLC now owns 181,283 shares of the technology company’s stock worth $30,347,000 after purchasing an additional 38,945 shares in the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

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.