Generac (GNRC) Downgraded by Zacks Investment Research to Hold

Generac (NYSE:GNRC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, January 18th.

According to Zacks, “Generac Holdings Inc. is a manufacturer of backup power generation products serving residential, light commercial and industrial markets. The Company designs, engineers, manufactures, and markets a range of automatic, stationary standby, and portable generators. Generac’s power systems range in output from 800 watts to 9 megawatts and are available through a broad network of independent and industrial dealers, retailers and wholesalers. The Company offers generators fueled by natural gas, liquid propane, gasoline, diesel, and Bi-Fuel. It also provides air-cooled engines. In addition, Generac designs, manufactures, sources and modifies engines, alternators, automatic transfer switches and other components necessary for its products. The Company’s generators are fueled by natural gas, liquid propane, gasoline, diesel and Bi-Fuel (combined diesel and natural gas). Generac Holdings Inc. is headquartered in Waukesha, Wisconsin. “

Several other brokerages have also recently commented on GNRC. Canaccord Genuity raised their price objective on shares of Generac from $50.00 to $54.00 and gave the company a “hold” rating in a research note on Thursday, November 2nd. Oppenheimer restated a “hold” rating on shares of Generac in a research report on Wednesday, November 1st. BidaskClub upgraded shares of Generac from a “hold” rating to a “buy” rating in a research report on Thursday, October 26th. Bank of America set a $56.00 price target on shares of Generac and gave the stock a “buy” rating in a report on Monday, October 23rd. Finally, Stifel Nicolaus lifted their price target on shares of Generac from $41.00 to $48.00 and gave the stock a “hold” rating in a report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. Generac has a consensus rating of “Hold” and a consensus target price of $53.00.

Shares of Generac (NYSE GNRC) traded down $0.06 during midday trading on Thursday, hitting $46.47. 571,701 shares of the company traded hands, compared to its average volume of 359,708. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.77 and a quick ratio of 1.01. Generac has a 12-month low of $33.77 and a 12-month high of $53.78. The firm has a market capitalization of $2,888.76, a PE ratio of 24.46, a price-to-earnings-growth ratio of 1.49 and a beta of 1.64.

In other Generac news, CEO Aaron Jagdfeld sold 20,000 shares of Generac stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $49.03, for a total transaction of $980,600.00. Following the transaction, the chief executive officer now directly owns 990,411 shares of the company’s stock, valued at $48,559,851.33. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 3.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. TCW Group Inc. acquired a new position in shares of Generac during the fourth quarter worth $807,000. UBS Asset Management Americas Inc. lifted its position in shares of Generac by 0.3% during the fourth quarter. UBS Asset Management Americas Inc. now owns 389,163 shares of the technology company’s stock worth $19,271,000 after purchasing an additional 1,138 shares in the last quarter. Schroder Investment Management Group raised its holdings in Generac by 1.6% in the fourth quarter. Schroder Investment Management Group now owns 583,010 shares of the technology company’s stock valued at $28,871,000 after acquiring an additional 9,141 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Generac by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 257,204 shares of the technology company’s stock valued at $12,737,000 after acquiring an additional 5,790 shares in the last quarter. Finally, Capital Fund Management S.A. acquired a new stake in Generac in the fourth quarter valued at $208,000. 95.97% of the stock is currently owned by institutional investors and hedge funds.

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Generac Company Profile

Generac Holdings Inc (Generac) is a designer and manufacturer of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business.

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