Generac Holdings Inc. (NYSE:GNRC – Get Rating) – Equities researchers at William Blair increased their Q3 2022 earnings per share estimates for Generac in a research report issued on Wednesday, August 3rd. William Blair analyst B. Drab now anticipates that the technology company will post earnings of $3.32 per share for the quarter, up from their prior estimate of $3.25. The consensus estimate for Generac’s current full-year earnings is $11.75 per share.
GNRC has been the subject of several other research reports. OTR Global downgraded Generac from a “mixed” rating to a “negative” rating in a report on Friday, July 22nd. JPMorgan Chase & Co. boosted their price objective on Generac from $455.00 to $461.00 in a report on Wednesday, July 20th. KeyCorp decreased their price objective on Generac from $350.00 to $325.00 and set an “overweight” rating for the company in a report on Thursday, July 21st. Canaccord Genuity Group decreased their price objective on Generac from $556.00 to $485.00 and set a “buy” rating for the company in a report on Thursday, May 5th. Finally, Wells Fargo & Company started coverage on Generac in a research report on Wednesday, June 29th. They set an “overweight” rating and a $285.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $424.71.
Generac Trading Up 1.9%
NYSE GNRC opened at $248.13 on Friday. The company has a market cap of $15.84 billion, a price-to-earnings ratio of 32.02, a P/E/G ratio of 2.12 and a beta of 1.28. Generac has a 52 week low of $197.94 and a 52 week high of $524.31. The business has a 50-day moving average price of $239.10 and a 200-day moving average price of $262.52. The company has a quick ratio of 0.71, a current ratio of 2.13 and a debt-to-equity ratio of 0.53.
Generac (NYSE:GNRC – Get Rating) last issued its earnings results on Wednesday, August 3rd. The technology company reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.34. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.26 billion. Generac had a return on equity of 29.42% and a net margin of 12.28%. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.39 earnings per share.
Insider Buying and Selling
In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $264.96, for a total transaction of $1,324,800.00. Following the transaction, the chief executive officer now directly owns 610,975 shares of the company’s stock, valued at $161,883,936. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.80% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Generac
Several hedge funds have recently added to or reduced their stakes in GNRC. State Board of Administration of Florida Retirement System boosted its stake in shares of Generac by 3.7% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 78,553 shares of the technology company’s stock worth $16,542,000 after acquiring an additional 2,816 shares in the last quarter. M&T Bank Corp grew its position in shares of Generac by 4.4% during the 2nd quarter. M&T Bank Corp now owns 7,473 shares of the technology company’s stock valued at $1,436,000 after acquiring an additional 313 shares during the period. Sound View Wealth Advisors Group LLC grew its position in shares of Generac by 11.4% during the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 1,010 shares of the technology company’s stock valued at $213,000 after acquiring an additional 103 shares during the period. CapWealth Advisors LLC grew its position in shares of Generac by 1.8% during the 2nd quarter. CapWealth Advisors LLC now owns 18,258 shares of the technology company’s stock valued at $3,845,000 after acquiring an additional 320 shares during the period. Finally, Archer Investment Corp acquired a new stake in shares of Generac during the 2nd quarter valued at about $105,000. 88.35% of the stock is owned by hedge funds and other institutional investors.
Generac Holdings Inc. designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.
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