Generac Holdlings Inc. (GNRC) – Canaccord Genuity Holds Rating And Sets New Price Target


Generac Holdlings Inc. (NYSE:GNRC).

On October 2, 2017 the stock rating was set at “Overweight” by KeyBanc which is up from the previous “Overweight” rating. On September 15 the company was upgraded from “Neutral” to “Buy” in a statement from Bank of America.

On September 11 Canaccord Genuity kept the company rating at “Hold” and raised the price expectation from $35.00 to $42.00. On September 7 the stock rating was upgraded to “Neutral” from “Buy” by Bank of America.

The company is now up by 0.45% percent from yesterday’s close. The stock is trading at $52.19 marginally over the 50 day moving average of $47.93 and which is significantly above the 200 day moving average of $39.53. The 50 day moving average was up $4.26 and the 200 day average moved up $12.66.

Generac Holdings Inc. (Generac), launched on September 12, 2006, is a designer and manufacturer of a range of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. Its segments include Domestic and International. The Domestic segment includes the Generac business. The International segment includes the Ottomotores UK, Tower Light SRL and PR Industrial S.r.l acquisitions. The other engine powered products that the Company designs and manufactures include light towers, which provide temporary lighting for various end markets; commercial and industrial mobile heaters used in the oil and gas, construction and other industrial markets, and a product line of outdoor power equipment for residential and commercial use..

Generac Holdlings Inc. currently has a P/E ratio of 31.174 and market capitalization is 3.24B. As of the last earnings report the EPS was $1.67 and is estimated to be $3.02 for the current year with 62,151,000 shares outstanding. Analysts expect next quarter’s EPS to be $1.05 and the next full year EPS is projected to be $3.33.

Investors are feeling more bullish on Generac Holdlings Inc. lately if you look at the change in short interest. The company had a fall in short interest of -5.59% as of September 29, 2017 from the last reporting period. Short interest fell from 5,120,461 to 4,834,217 over that timeframe. The short-interest ratio increased to 8.0 and the percentage of shorted shares was 0.08% on September 29.