Generac (NYSE:GNRC) Upgraded at Zacks Research

Zacks Research upgraded shares of Generac (NYSE:GNRC) from a strong sell rating to a hold rating in a research report sent to investors on Thursday morning,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the company. Canaccord Genuity Group set a $275.00 price objective on Generac in a research report on Thursday, February 12th. Bank of America cut their target price on Generac from $236.00 to $224.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. Needham & Company LLC initiated coverage on Generac in a report on Monday, January 12th. They set a “buy” rating and a $211.00 price target on the stock. Citigroup raised shares of Generac from a “neutral” rating to a “buy” rating and set a $207.00 price objective for the company in a research note on Thursday, January 8th. Finally, TD Cowen increased their target price on shares of Generac from $220.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Generac presently has an average rating of “Moderate Buy” and a consensus target price of $220.19.

Generac Price Performance

Generac stock opened at $229.20 on Thursday. The company has a market cap of $13.45 billion, a price-to-earnings ratio of 85.52, a PEG ratio of 1.68 and a beta of 1.85. The firm’s fifty day moving average is $167.96 and its 200 day moving average is $171.90. The company has a quick ratio of 1.00, a current ratio of 2.03 and a debt-to-equity ratio of 0.48. Generac has a 52-week low of $99.50 and a 52-week high of $236.00.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, February 11th. The technology company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). Generac had a return on equity of 14.55% and a net margin of 3.79%.The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the business earned $2.80 earnings per share. The business’s quarterly revenue was down 11.6% on a year-over-year basis. Sell-side analysts forecast that Generac will post 8 EPS for the current fiscal year.

Institutional Trading of Generac

A number of large investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA purchased a new stake in shares of Generac in the 3rd quarter worth $70,744,000. Strs Ohio raised its holdings in shares of Generac by 583.4% in the third quarter. Strs Ohio now owns 58,096 shares of the technology company’s stock valued at $9,725,000 after acquiring an additional 49,595 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Generac by 2.6% in the third quarter. Envestnet Asset Management Inc. now owns 597,559 shares of the technology company’s stock valued at $100,031,000 after acquiring an additional 15,280 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Generac by 2.9% in the second quarter. JPMorgan Chase & Co. now owns 361,189 shares of the technology company’s stock worth $51,728,000 after acquiring an additional 10,325 shares during the period. Finally, Annex Advisory Services LLC grew its holdings in Generac by 9.2% during the 3rd quarter. Annex Advisory Services LLC now owns 194,519 shares of the technology company’s stock worth $32,562,000 after acquiring an additional 16,386 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 (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.