Generac (NYSE:GNRC) Sees Strong Trading Volume

Posted by on Jun 30th, 2023

Generac Holdings Inc. (NYSE:GNRC – Free Report) saw unusually-strong trading volume on Wednesday . Approximately 480,058 shares were traded during trading, a decline of 61% from the previous session’s volume of 1,240,110 shares.The stock last traded at $145.99 and had previously closed at $142.53.

Wall Street Analysts Forecast Growth

GNRC has been the subject of several recent research reports. Oppenheimer boosted their price target on Generac from $137.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, March 3rd. StockNews.com raised Generac from a “sell” rating to a “hold” rating in a research note on Friday, May 12th. Bank of America cut Generac from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $141.00 to $91.00 in a research note on Friday, March 31st. Truist Financial lowered their price target on Generac from $145.00 to $120.00 in a research note on Monday, May 1st. Finally, Scotiabank started coverage on Generac in a research note on Thursday, March 2nd. They issued a “sector perform” rating and a $165.00 price target for the company. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $171.77.

Generac Stock Down 0.4 %

The business has a 50 day moving average of $116.40 and a 200 day moving average of $112.41. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.40 and a quick ratio of 0.82. The firm has a market capitalization of $9.17 billion, a price-to-earnings ratio of 37.61, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15.

Generac (NYSE:GNRC – Free Report) last issued its earnings results on Wednesday, May 3rd. The technology company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.11. The business had revenue of $887.90 million during the quarter, compared to analyst estimates of $850.07 million. Generac had a return on equity of 19.63% and a net margin of 6.91%. Generac’s revenue was down 21.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 earnings per share. On average, equities analysts anticipate that Generac Holdings Inc. will post 5.87 EPS for the current year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $102.16, for a total value of $510,800.00. Following the completion of the transaction, the chief executive officer now directly owns 622,690 shares in the company, valued at $63,614,010.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 15,000 shares of company stock worth $1,598,800. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Generac

A number of large investors have recently bought and sold shares of GNRC. OLD Mission Capital LLC bought a new stake in Generac in the fourth quarter valued at $26,000. MinichMacGregor Wealth Management LLC bought a new stake in Generac in the fourth quarter valued at $27,000. Parkside Financial Bank & Trust grew its position in Generac by 158.3% in the first quarter. Parkside Financial Bank & Trust now owns 248 shares of the technology company’s stock valued at $27,000 after acquiring an additional 152 shares during the period. Ameritas Advisory Services LLC bought a new stake in Generac in the first quarter valued at $28,000. Finally, Glassman Wealth Services grew its position in Generac by 568.2% in the fourth quarter. Glassman Wealth Services now owns 294 shares of the technology company’s stock valued at $30,000 after acquiring an additional 250 shares during the period. 85.93% of the stock is currently owned by institutional investors.

About Generac

(Free Report)

Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, energy management devices and solutions, and other power products for the residential, light commercial, and industrial markets worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; residential storage solution consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; Mobile Link, a remote monitoring system for home standby generators; smart home solutions, such as smart thermostats and a suite of home monitoring products; smart water heater controllers; residential clean energy solutions; and portable and inverter generators; outdoor power equipment, including trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, and pressure washers and water pumps; and battery-powered turf care products.

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