Generac Holdings Inc. (NYSE:GNRC) Sees Large Decrease in Short Interest

Generac Holdings Inc. (NYSE:GNRCGet Free Report) was the target of a large drop in short interest in June. As of June 15th, there was short interest totalling 3,150,000 shares, a drop of 10.0% from the May 31st total of 3,500,000 shares. Approximately 5.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,050,000 shares, the days-to-cover ratio is presently 3.0 days.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GNRC shares. Guggenheim downgraded Generac from a “neutral” rating to a “sell” rating and set a $120.00 price target for the company. in a research report on Thursday, May 30th. Canaccord Genuity Group boosted their target price on Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Friday, April 5th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $149.00 price target on shares of Generac in a report on Thursday, May 23rd. Roth Mkm boosted their price objective on Generac from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. Finally, OTR Global raised Generac from a “mixed” rating to a “positive” rating in a research report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Generac has an average rating of “Hold” and an average target price of $141.67.

Check Out Our Latest Analysis on Generac

Generac Price Performance

NYSE:GNRC traded up $0.73 during trading hours on Wednesday, reaching $138.03. 401,100 shares of the company were exchanged, compared to its average volume of 1,005,151. The stock’s 50-day moving average is $140.18 and its 200-day moving average is $128.32. Generac has a twelve month low of $79.86 and a twelve month high of $156.95. The firm has a market cap of $8.37 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 1.79 and a beta of 1.37. The company has a current ratio of 2.29, a quick ratio of 0.97 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRCGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.16. Generac had a net margin of 5.68% and a return on equity of 14.68%. The firm had revenue of $889.27 million for the quarter, compared to analyst estimates of $886.60 million. During the same period last year, the company posted $0.63 EPS. Generac’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Generac will post 6.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $133.39, for a total transaction of $666,950.00. Following the sale, the chief executive officer now directly owns 577,177 shares of the company’s stock, valued at approximately $76,989,640.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $133.39, for a total transaction of $666,950.00. Following the sale, the chief executive officer now directly owns 577,177 shares in the company, valued at approximately $76,989,640.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nam Tran Nguyen sold 546 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $140.55, for a total transaction of $76,740.30. Following the completion of the transaction, the director now directly owns 3,512 shares of the company’s stock, valued at approximately $493,611.60. The disclosure for this sale can be found here. Insiders sold 80,785 shares of company stock worth $11,720,411 in the last quarter. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Generac

Large investors have recently made changes to their positions in the company. LPL Financial LLC raised its position in shares of Generac by 28.8% in the third quarter. LPL Financial LLC now owns 89,474 shares of the technology company’s stock valued at $9,749,000 after buying an additional 19,985 shares during the last quarter. Mariner LLC raised its holdings in Generac by 17.3% in the 3rd quarter. Mariner LLC now owns 5,566 shares of the technology company’s stock valued at $606,000 after acquiring an additional 822 shares during the last quarter. Trexquant Investment LP purchased a new position in Generac in the 3rd quarter worth approximately $779,000. Treasurer of the State of North Carolina boosted its holdings in shares of Generac by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 26,713 shares of the technology company’s stock worth $2,911,000 after purchasing an additional 140 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Generac by 157.6% in the third quarter. Tower Research Capital LLC TRC now owns 4,817 shares of the technology company’s stock valued at $525,000 after purchasing an additional 2,947 shares in the last quarter. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Generac Company Profile

(Get Free Report)

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.

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