Short Interest in Generac Holdings Inc. (NYSE:GNRC) Expands By 23.8%

Generac Holdings Inc. (NYSE:GNRC - Get Free Report) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 2,970,000 shares, an increase of 23.8% from the October 31st total of 2,400,000 shares. Based on an average trading volume of 846,000 shares, the short-interest ratio is currently 3.5 days. Currently, 5.1% of the shares of the company are sold short.

Insider Activity at Generac

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

Institutional Investors Weigh In On Generac

Institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. lifted its holdings in Generac by 97.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company's stock valued at $27,000 after purchasing an additional 100 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Generac during the third quarter valued at about $31,000. SouthState Corp acquired a new stake in Generac during the third quarter worth about $32,000. Capital Advisors Ltd. LLC lifted its stake in shares of Generac by 611.1% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 256 shares of the technology company's stock valued at $34,000 after purchasing an additional 220 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Generac by 73.5% during the 3rd quarter. Blue Trust Inc. now owns 229 shares of the technology company's stock worth $36,000 after purchasing an additional 97 shares during the period. 84.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GNRC. JPMorgan Chase & Co. lifted their target price on Generac from $160.00 to $178.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. TD Cowen lifted their price objective on shares of Generac from $172.00 to $183.00 and gave the company a "buy" rating in a report on Friday, November 1st. Roth Mkm increased their target price on shares of Generac from $160.00 to $175.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Truist Financial boosted their price target on shares of Generac from $170.00 to $210.00 and gave the stock a "buy" rating in a research note on Wednesday, October 16th. Finally, Piper Sandler increased their price objective on Generac from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Generac has a consensus rating of "Moderate Buy" and an average target price of $174.58.

Generac Stock Performance

Shares of Generac stock traded down $0.75 on Monday, hitting $187.45. The stock had a trading volume of 431,017 shares, compared to its average volume of 939,304. The stock has a market cap of $11.15 billion, a price-to-earnings ratio of 38.89, a P/E/G ratio of 2.31 and a beta of 1.37. Generac has a 52-week low of $108.89 and a 52-week high of $195.94. The company's 50 day moving average price is $173.74 and its 200 day moving average price is $155.73. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56.

Generac (NYSE:GNRC - Get Free Report) last issued its 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 net margin of 7.17% and a return on equity of 16.70%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm earned $1.64 earnings per share. The business's quarterly revenue was up 9.6% compared to the same quarter last year. On average, research analysts anticipate that Generac will post 6.8 EPS 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.