Generac (NYSE:GNRC) Hits New 52-Week High – Still a Buy?

Generac Holdings Inc. (NYSE:GNRC) hit a new 52-week high on Monday . The company traded as high as $191.02 and last traded at $190.27, with a volume of 56545 shares. The stock had previously closed at $189.35.

Analysts Set New Price Targets

GNRC has been the subject of several research analyst reports. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Scotiabank raised their price objective on shares of Generac from $147.00 to $160.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. TD Cowen upped their price target on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, November 1st. The Goldman Sachs Group raised their price objective on Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Piper Sandler upped their target price on shares of Generac from $175.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Generac has an average rating of “Moderate Buy” and an average target price of $169.10.

Generac Price Performance

The stock has a market cap of $11.43 billion, a PE ratio of 39.28, a PEG ratio of 2.32 and a beta of 1.37. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $159.83 and a 200 day moving average price of $150.10.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.27. Generac had a return on equity of 16.70% and a net margin of 7.17%. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the business earned $1.64 earnings per share. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, research analysts forecast that Generac Holdings Inc. will post 6.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total value of $794,650.00. Following the sale, the chief executive officer now owns 562,177 shares of the company’s stock, valued at $89,346,790.61. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction of $585,069.46. Following the transaction, the executive vice president now directly owns 10,738 shares of the company’s stock, valued at approximately $1,971,282.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the sale, the chief executive officer now directly owns 562,177 shares of the company’s stock, valued at approximately $89,346,790.61. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,268 shares of company stock valued at $7,584,853 in the last three months. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Generac

A number of hedge funds have recently made changes to their positions in GNRC. EntryPoint Capital LLC lifted its position in Generac by 73.2% in the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after purchasing an additional 90 shares during the last quarter. Sunbelt Securities Inc. raised its stake in Generac by 97.1% during the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. SouthState Corp purchased a new stake in Generac during the 3rd quarter valued at about $32,000. Capital Advisors Ltd. LLC lifted its stake in shares of Generac by 611.1% in the second quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company’s stock worth $34,000 after buying an additional 220 shares in the last quarter. Finally, Blue Trust Inc. increased its position in Generac by 73.5% during the third quarter. Blue Trust Inc. now owns 229 shares of the technology company’s stock valued at $36,000 after acquiring an additional 97 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors.

About Generac

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.