Q3 2024 EPS Estimates for Generac Holdings Inc. (NYSE:GNRC) Cut by Analyst

Generac Holdings Inc. (NYSE:GNRC) – Equities research analysts at Roth Capital reduced their Q3 2024 earnings estimates for shares of Generac in a research report issued on Wednesday, May 1st. Roth Capital analyst C. Moore now forecasts that the technology company will earn $2.00 per share for the quarter, down from their prior forecast of $2.03. The consensus estimate for Generac’s current full-year earnings is $6.10 per share. Roth Capital also issued estimates for Generac’s Q4 2024 earnings at $2.13 EPS and FY2024 earnings at $6.28 EPS.

A number of other brokerages also recently issued reports on GNRC. Citigroup increased their price objective on shares of Generac from $124.00 to $128.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Canaccord Genuity Group lifted their price objective on shares of Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, April 5th. UBS Group cut their target price on Generac from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, February 15th. Canaccord Genuity Group lifted their price target on Generac from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, OTR Global upgraded Generac from a “mixed” rating to a “positive” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Generac has an average rating of “Moderate Buy” and a consensus price target of $142.40.

Generac Stock Performance

GNRC opened at $136.41 on Monday. The firm has a market cap of $8.24 billion, a P/E ratio of 37.58, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The business’s fifty day moving average is $125.50 and its 200-day moving average is $119.00. Generac has a 52-week low of $79.86 and a 52-week high of $156.95. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.97 and a current ratio of 2.29.

Generac (NYSE:GNRC) last issued its quarterly earnings results on Wednesday, May 1st. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.16. The business had revenue of $889.27 million during the quarter, compared to analysts’ expectations of $886.60 million. Generac had a return on equity of 14.68% and a net margin of 5.68%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 earnings per share.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $139.95, for a total value of $699,750.00. Following the sale, the chief executive officer now owns 587,177 shares of the company’s stock, valued at $82,175,421.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Generac

Institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its stake in Generac by 18.2% during the third quarter. Commonwealth Equity Services LLC now owns 75,881 shares of the technology company’s stock worth $8,268,000 after buying an additional 11,704 shares during the last quarter. Xponance Inc. lifted its stake in shares of Generac by 5.9% in the 3rd quarter. Xponance Inc. now owns 9,675 shares of the technology company’s stock valued at $1,054,000 after purchasing an additional 540 shares during the period. Raymond James & Associates boosted its position in shares of Generac by 6.2% during the 3rd quarter. Raymond James & Associates now owns 148,479 shares of the technology company’s stock valued at $16,178,000 after purchasing an additional 8,634 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Generac by 11.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 73,797 shares of the technology company’s stock worth $8,041,000 after purchasing an additional 7,644 shares during the period. Finally, Stratos Wealth Partners LTD. increased its holdings in Generac by 113.0% in the third quarter. Stratos Wealth Partners LTD. now owns 5,416 shares of the technology company’s stock worth $590,000 after purchasing an additional 2,873 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

Generac Company Profile

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.