Generac Holdings Inc. (NYSE:GNRC) Short Interest Down 13.8% in November
Generac Holdings Inc. (NYSE:GNRC – Get Free Report) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 4,630,000 shares, a drop of 13.8% from the October 31st total of 5,370,000 shares. Based on an average daily volume of 1,220,000 shares, the days-to-cover ratio is currently 3.8 days. Approximately 7.7% of the shares of the stock are sold short.
Wall Street Analyst Weigh In
Several analysts recently weighed in on GNRC shares. Bank of America upgraded shares of Generac from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $76.00 to $110.00 in a report on Wednesday, November 15th. Stifel Nicolaus upgraded shares of Generac from a “hold” rating to a “buy” rating and lifted their target price for the company from $130.00 to $135.00 in a report on Thursday, November 2nd. Truist Financial reiterated a “buy” rating and issued a $160.00 target price on shares of Generac in a report on Monday, October 2nd. JPMorgan Chase & Co. dropped their target price on shares of Generac from $179.00 to $164.00 and set an “overweight” rating for the company in a report on Thursday, October 19th. Finally, StockNews.com initiated coverage on shares of Generac in a report on Thursday, October 5th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $142.43.
View Our Latest Report on Generac
Generac Stock Performance
GNRC traded up $5.23 on Friday, reaching $122.30. The company had a trading volume of 1,379,075 shares, compared to its average volume of 1,224,476. Generac has a 1 year low of $79.86 and a 1 year high of $156.95. The stock has a market capitalization of $7.51 billion, a PE ratio of 47.96, a P/E/G ratio of 2.18 and a beta of 1.43. The company has a quick ratio of 0.95, a current ratio of 2.41 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $103.16 and a 200-day moving average price of $116.90.
Generac (NYSE:GNRC – Get Free Report) last announced its quarterly earnings results on Wednesday, November 1st. The technology company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.09. Generac had a net margin of 4.72% and a return on equity of 13.73%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company earned $1.75 earnings per share. Generac’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, research analysts forecast that Generac will post 5.37 EPS for the current fiscal year.
Insiders Place Their Bets
In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $116.76, for a total value of $583,800.00. Following the transaction, the chief executive officer now directly owns 587,690 shares of the company’s stock, valued at approximately $68,618,684.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Rajendra Kumar Kanuru sold 250 shares of Generac stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $116.76, for a total transaction of $29,190.00. Following the sale, the executive vice president now owns 15,618 shares of the company’s stock, valued at approximately $1,823,557.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $116.76, for a total transaction of $583,800.00. Following the sale, the chief executive officer now directly owns 587,690 shares in the company, valued at approximately $68,618,684.40. The disclosure for this sale can be found here. Insiders have sold 15,500 shares of company stock valued at $1,657,550 in the last ninety days. 2.80% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Generac
Institutional investors and hedge funds have recently bought and sold shares of the stock. Public Sector Pension Investment Board raised its holdings in shares of Generac by 12.1% in the third quarter. Public Sector Pension Investment Board now owns 6,734 shares of the technology company’s stock valued at $734,000 after buying an additional 726 shares during the last quarter. Comerica Bank raised its holdings in shares of Generac by 18,496.7% in the third quarter. Comerica Bank now owns 28,267 shares of the technology company’s stock valued at $3,080,000 after buying an additional 28,115 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in shares of Generac by 9.7% in the third quarter. Integrated Advisors Network LLC now owns 5,641 shares of the technology company’s stock valued at $615,000 after buying an additional 497 shares during the last quarter. Creative Planning raised its holdings in shares of Generac by 7.3% in the third quarter. Creative Planning now owns 24,303 shares of the technology company’s stock valued at $2,648,000 after buying an additional 1,655 shares during the last quarter. Finally, Pacific Center for Financial Services acquired a new position in shares of Generac during the third quarter worth about $98,000. 87.59% of the stock is owned by hedge funds and other institutional investors.
Generac Company Profile (Get Free Report)
Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, energy management devices and solutions, and other power products for the residential, light commercial, and industrial markets worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; residential storage solution consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; Mobile Link, a remote monitoring system for home standby generators; smart home solutions, such as smart thermostats and a suite of home monitoring products; smart water heater controllers; residential clean energy solutions; and portable and inverter generators; outdoor power equipment, including trimmers, field and brush mowers, log splitters, stump grinders, chipper shredders, lawn and leaf vacuums, and pressure washers and water pumps; and battery-powered turf care products.
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Original: MarketBeat News Feed: Generac Holdings Inc. (NYSE:GNRC) Short Interest Down 13.8% in November