Generac Holdings Inc. (NYSE:GNRC) Short Interest Update

Generac Holdings Inc. (NYSE:GNRC) saw 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. Approximately 4.5% of the shares of the company are sold short. Based on an average daily trading volume, of 859,800 shares, the short-interest ratio is presently 3.0 days.

Insiders Place Their Bets

In related news, CFO York A. Ragen sold 29,081 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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 owns 135,613 shares of the company’s stock, valued at $25,051,789.49. This trade represents a 17.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $158.93, for a total value of $794,650.00. Following the completion of the transaction, the chief executive officer now owns 562,177 shares in the company, valued at $89,346,790.61. This trade represents a 0.88 % decrease in their position. 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 over the last quarter. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Generac

A number of institutional investors and hedge funds have recently bought and sold shares of GNRC. William Blair Investment Management LLC acquired a new position in shares of Generac during the second quarter worth about $98,282,000. The Manufacturers Life Insurance Company lifted its position in Generac by 114.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock worth $88,944,000 after acquiring an additional 299,205 shares in the last quarter. Jennison Associates LLC purchased a new position in Generac in the 3rd quarter worth approximately $45,722,000. International Assets Investment Management LLC raised its stake in shares of Generac by 25,311.7% during the third quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock valued at $42,433,000 after purchasing an additional 266,026 shares during the period. Finally, Stephens Investment Management Group LLC lifted its position in shares of Generac by 678.5% during the third quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock worth $30,560,000 after purchasing an additional 167,641 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Price Performance

GNRC traded down $6.37 during midday trading on Friday, reaching $167.25. 1,042,999 shares of the company’s stock were exchanged, compared to its average volume of 933,671. Generac has a 1-year low of $108.89 and a 1-year high of $195.94. The business’s 50-day moving average price is $177.48 and its 200 day moving average price is $157.46. The stock has a market capitalization of $9.95 billion, a PE ratio of 34.70, a P/E/G ratio of 2.09 and a beta of 1.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96.

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

Analysts Set New Price Targets

GNRC has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of Generac from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Roth Mkm lifted their target price on shares of Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Citigroup increased their price target on shares of Generac from $128.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Truist Financial lifted their price objective on Generac from $170.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, TD Cowen increased their target price on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.30.

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.