Jefferies Financial Group Begins Coverage on Generac (NYSE:GNRC)

Research analysts at Jefferies Financial Group started coverage on shares of Generac (NYSE:GNRC) in a research note issued to investors on Friday, Marketbeat reports. The brokerage set a “hold” rating and a $222.00 price target on the technology company’s stock. Jefferies Financial Group’s target price points to a potential upside of 11.60% from the company’s current price.

Several other research firms also recently commented on GNRC. Bank of America cut their target price on shares of Generac from $236.00 to $224.00 and set a “buy” rating on the stock in a research report on Wednesday, January 7th. Canaccord Genuity Group set a $275.00 price target on shares of Generac in a research report on Thursday, February 12th. Guggenheim reaffirmed a “neutral” rating and set a $202.00 price target on shares of Generac in a research note on Tuesday, February 10th. Barclays lifted their price target on shares of Generac from $186.00 to $213.00 and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Finally, Zacks Research raised shares of Generac from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Generac has an average rating of “Moderate Buy” and a consensus price target of $222.06.

Generac Price Performance

Shares of GNRC opened at $198.93 on Friday. The company has a quick ratio of 1.00, a current ratio of 2.03 and a debt-to-equity ratio of 0.48. The stock has a market cap of $11.67 billion, a PE ratio of 74.23, a PEG ratio of 1.45 and a beta of 1.74. Generac has a 12-month low of $99.50 and a 12-month high of $241.09. The business has a 50-day simple moving average of $196.56 and a two-hundred day simple moving average of $174.96.

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

Insider Transactions at Generac

In other Generac news, CFO York A. Ragen sold 24,362 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the completion of the transaction, the chief financial officer owned 137,182 shares in the company, valued at approximately $32,321,451.02. This trade represents a 15.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Generac

Several large investors have recently modified their holdings of GNRC. Invesco Ltd. lifted its holdings in Generac by 49.9% in the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock valued at $330,557,000 after buying an additional 806,430 shares during the period. State Street Corp grew its holdings in Generac by 2.1% during the 2nd quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock worth $313,619,000 after acquiring an additional 45,592 shares during the period. Victory Capital Management Inc. raised its position in shares of Generac by 17.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock worth $355,530,000 after acquiring an additional 324,809 shares in the last quarter. Boston Partners raised its position in shares of Generac by 7.1% in the 3rd quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock worth $326,003,000 after acquiring an additional 128,439 shares in the last quarter. Finally, Ariel Investments LLC lifted its stake in shares of Generac by 11.7% in the 2nd quarter. Ariel Investments LLC now owns 1,804,595 shares of the technology company’s stock valued at $258,436,000 after purchasing an additional 188,717 shares during the period. 84.04% of the stock is currently 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.