Generac Holdings Inc. (NYSE:GNRC) Sees Significant Drop in Short Interest

Generac Holdings Inc. (NYSE:GNRC) was the recipient of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 2,620,000 shares, a decline of 11.8% from the November 15th total of 2,970,000 shares. Based on an average daily trading volume, of 859,800 shares, the short-interest ratio is presently 3.0 days. Approximately 4.5% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GNRC shares. JPMorgan Chase & Co. lifted their price objective on Generac from $160.00 to $178.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Roth Mkm increased their target price on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen lifted their target price on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a research report on Monday, October 28th. Finally, Citigroup increased their price objective on shares of Generac from $128.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $175.30.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $166.60, for a total transaction of $833,000.00. Following the sale, the chief executive officer now owns 557,177 shares of the company’s stock, valued at $92,825,688.20. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO York A. Ragen sold 29,081 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the transaction, the chief financial officer now directly owns 135,613 shares of the company’s stock, valued at $25,051,789.49. This represents a 17.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,268 shares of company stock valued at $7,584,853. Company insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Generac

Several large investors have recently modified their holdings of GNRC. Retirement Systems of Alabama raised its holdings in shares of Generac by 0.8% in the third quarter. Retirement Systems of Alabama now owns 13,476 shares of the technology company’s stock worth $2,141,000 after buying an additional 105 shares during the period. Franklin Resources Inc. increased its stake in Generac by 106.1% in the third quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company’s stock worth $4,998,000 after purchasing an additional 14,811 shares during the period. Synovus Financial Corp bought a new stake in shares of Generac during the third quarter worth $300,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Generac during the third quarter valued at $51,000. Finally, Morse Asset Management Inc increased its stake in Generac by 2.4% in the 3rd quarter. Morse Asset Management Inc now owns 6,084 shares of the technology company’s stock worth $967,000 after buying an additional 145 shares during the period. Institutional investors own 84.04% of the company’s stock.

Generac Price Performance

Generac stock traded down $2.06 during mid-day trading on Tuesday, reaching $165.11. 500,378 shares of the company’s stock traded hands, compared to its average volume of 930,444. Generac has a 12-month low of $108.89 and a 12-month high of $195.94. The company has a market cap of $9.82 billion, a price-to-earnings ratio of 34.27, a PEG ratio of 2.09 and a beta of 1.39. The stock has a 50 day moving average of $177.34 and a two-hundred day moving average of $157.58. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.27. Generac had a net margin of 7.17% and a return on equity of 16.70%. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm earned $1.64 EPS. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts forecast that Generac will post 6.84 earnings per share for the current year.

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.