Generac Holdings Inc. (NYSE:GNRC - Get Free Report) was the recipient of a significant decline in short interest in March. As of March 15th, there was short interest totalling 2,250,000 shares, a decline of 22.4% from the February 28th total of 2,900,000 shares. Approximately 3.8% of the company's stock are short sold. Based on an average daily volume of 831,100 shares, the short-interest ratio is presently 2.7 days.
Insider Activity at Generac
In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $145.15, for a total value of $725,750.00. Following the completion of the transaction, the chief executive officer now owns 565,825 shares in the company, valued at $82,129,498.75. The trade was a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.90% of the company's stock.
Institutional Trading of Generac
A number of hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB acquired a new stake in shares of Generac during the fourth quarter worth $5,229,000. Global Financial Private Client LLC purchased a new position in Generac during the fourth quarter worth about $614,000. Franklin Resources Inc. lifted its position in Generac by 106.1% during the third quarter. Franklin Resources Inc. now owns 28,772 shares of the technology company's stock worth $4,998,000 after buying an additional 14,811 shares during the period. Glenmede Trust Co. NA boosted its stake in Generac by 54.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 11,984 shares of the technology company's stock worth $1,904,000 after buying an additional 4,209 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of Generac by 41.4% during the 3rd quarter. Barclays PLC now owns 185,193 shares of the technology company's stock valued at $29,425,000 after acquiring an additional 54,202 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on GNRC shares. Citigroup dropped their price objective on Generac from $172.00 to $162.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. UBS Group boosted their price target on shares of Generac from $200.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Barclays assumed coverage on shares of Generac in a research note on Wednesday, December 4th. They issued an "equal weight" rating and a $189.00 price objective for the company. Stifel Nicolaus cut their target price on Generac from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group decreased their target price on Generac from $193.00 to $168.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.38.
Check Out Our Latest Stock Analysis on Generac
Generac Price Performance
Generac stock traded up $1.95 during mid-day trading on Wednesday, hitting $128.28. 645,785 shares of the company were exchanged, compared to its average volume of 883,176. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.97 and a quick ratio of 0.97. Generac has a 12-month low of $121.24 and a 12-month high of $195.94. The business's 50 day simple moving average is $138.62 and its two-hundred day simple moving average is $157.39. The company has a market capitalization of $7.65 billion, a P/E ratio of 23.76, a PEG ratio of 1.44 and a beta of 1.58.
Generac (NYSE:GNRC - Get Free Report) last announced its earnings results on Wednesday, February 12th. The technology company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.31. Generac had a net margin of 7.36% and a return on equity of 18.17%. Analysts forecast that Generac will post 8 earnings per share for the current fiscal year.
About Generac
(
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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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