Short Interest in Generac Holdings Inc. (NYSE:GNRC) Increases By 6.6%

by · The Markets Daily

Generac Holdings Inc. (NYSE:GNRC – Get Free Report) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 2,760,000 shares, a growth of 6.6% from the September 15th total of 2,590,000 shares. Based on an average trading volume of 898,800 shares, the days-to-cover ratio is currently 3.1 days. Currently, 4.7% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday. TD Cowen boosted their target price on shares of Generac from $144.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their target price on shares of Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Robert W. Baird lifted their price target on shares of Generac from $142.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Wells Fargo & Company increased their price objective on shares of Generac from $139.00 to $156.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Generac presently has a consensus rating of “Hold” and an average price target of $158.43.

Check Out Our Latest Report on Generac

Insider Buying and Selling at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’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 directly owns 562,177 shares of the company’s stock, valued at $89,346,790.61. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.80% of the stock is owned by corporate insiders.

Institutional Trading of Generac

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sunbelt Securities Inc. lifted its stake in shares of Generac by 97.1% in the second quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock valued at $27,000 after buying an additional 100 shares during the period. EntryPoint Capital LLC lifted its holdings in shares of Generac by 73.2% during the first quarter. EntryPoint Capital LLC now owns 213 shares of the technology company’s stock valued at $27,000 after acquiring an additional 90 shares during the period. Capital Advisors Ltd. LLC boosted 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. Fairfield Financial Advisors LTD bought a new stake in shares of Generac in the 2nd quarter worth about $38,000. Finally, Quarry LP increased its position in shares of Generac by 219.6% during the 4th quarter. Quarry LP now owns 294 shares of the technology company’s stock worth $38,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Price Performance

NYSE GNRC traded down $5.75 on Thursday, reaching $168.46. 784,436 shares of the stock traded hands, compared to its average volume of 963,011. Generac has a 12 month low of $79.86 and a 12 month high of $176.14. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 47.36, a P/E/G ratio of 2.22 and a beta of 1.38. The firm’s fifty day simple moving average is $152.91 and its 200 day simple moving average is $145.44. The company has a quick ratio of 0.99, a current ratio of 2.25 and a debt-to-equity ratio of 0.61.

Generac (NYSE:GNRC – Get Free Report) last announced its earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.15. The business had revenue of $998.20 million during the quarter, compared to analysts’ expectations of $1 billion. Generac had a return on equity of 15.35% and a net margin of 6.03%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the business posted $1.08 earnings per share. As a group, research analysts predict that Generac will post 6.47 EPS for the current fiscal year.

Generac Company Profile

(Get Free Report)

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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