Analysts expect Generac Holdings Inc. (NYSE:GNRC – Get Rating) to post sales of $1.08 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Generac’s earnings. The lowest sales estimate is $1.06 billion and the highest is $1.10 billion. Generac reported sales of $807.43 million during the same quarter last year, which would suggest a positive year over year growth rate of 33.8%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Generac will report full year sales of $5.00 billion for the current year, with estimates ranging from $4.97 billion to $5.03 billion. For the next financial year, analysts forecast that the firm will report sales of $5.60 billion, with estimates ranging from $5.40 billion to $5.89 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Generac.
Generac (NYSE:GNRC – Get Rating) last posted its quarterly earnings results on Tuesday, February 15th. The technology company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.13. Generac had a net margin of 14.73% and a return on equity of 34.50%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business posted $2.12 earnings per share. The company’s revenue was up 40.2% on a year-over-year basis.
A number of equities analysts have weighed in on the stock. Oppenheimer decreased their target price on shares of Generac from $540.00 to $450.00 and set an “outperform” rating for the company in a research note on Thursday, February 17th. Colliers Securities started coverage on shares of Generac in a research note on Tuesday, December 14th. They set a “buy” rating and a $490.00 target price for the company. UBS Group reduced their price target on shares of Generac from $575.00 to $556.00 and set a “buy” rating for the company in a research report on Thursday, February 17th. Canaccord Genuity Group reduced their price target on shares of Generac from $575.00 to $556.00 and set a “buy” rating for the company in a research report on Thursday, February 17th. Finally, Bank of America raised shares of Generac from a “neutral” rating to a “buy” rating and set a $475.00 price target for the company in a research report on Thursday, December 16th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Generac presently has a consensus rating of “Buy” and an average target price of $462.25.
In related news, CMO Russell S. Minick sold 11,389 shares of Generac stock in a transaction on Friday, March 4th. The shares were sold at an average price of $318.01, for a total transaction of $3,621,815.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Aaron Jagdfeld sold 34,894 shares of Generac stock in a transaction on Tuesday, February 1st. The shares were sold at an average price of $282.46, for a total transaction of $9,856,159.24. The disclosure for this sale can be found here. Insiders have sold a total of 56,283 shares of company stock worth $16,544,125 in the last quarter. Corporate insiders own 2.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Generac by 5.4% in the 3rd quarter. BlackRock Inc. now owns 5,073,314 shares of the technology company’s stock valued at $2,073,311,000 after acquiring an additional 260,162 shares during the last quarter. State Street Corp increased its holdings in Generac by 0.8% in the 4th quarter. State Street Corp now owns 2,591,402 shares of the technology company’s stock valued at $911,966,000 after acquiring an additional 20,575 shares during the last quarter. Bank of America Corp DE increased its holdings in Generac by 5.4% in the 4th quarter. Bank of America Corp DE now owns 1,288,728 shares of the technology company’s stock valued at $453,530,000 after acquiring an additional 66,586 shares during the last quarter. Geode Capital Management LLC increased its holdings in Generac by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,175,929 shares of the technology company’s stock valued at $412,807,000 after acquiring an additional 22,890 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its holdings in Generac by 19.6% in the 4th quarter. Champlain Investment Partners LLC now owns 965,680 shares of the technology company’s stock valued at $339,842,000 after acquiring an additional 158,591 shares during the last quarter. Institutional investors own 88.54% of the company’s stock.
Shares of NYSE GNRC opened at $296.96 on Friday. Generac has a fifty-two week low of $251.74 and a fifty-two week high of $524.31. The company has a 50 day simple moving average of $300.82 and a two-hundred day simple moving average of $359.96. The company has a market capitalization of $18.94 billion, a price-to-earnings ratio of 35.74, a P/E/G ratio of 2.05 and a beta of 1.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.66 and a current ratio of 1.60.
About Generac
Generac Holdings, Inc engages in the design and manufacture of power generation equipment and other power products. It operates through the following segments: Domestic and International. The Domestic segment includes the legacy Generac, and the impact of acquisitions that are based in the U.S. and Canada.