Short Interest in Generac Holdings Inc. (NYSE:GNRC) Expands By 13.1%

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Generac Holdings Inc. (NYSE:GNRC) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 2,214,900 shares, a growth of 13.1% from the July 31st total of 1,958,900 shares. Based on an average trading volume of 499,700 shares, the short-interest ratio is currently 4.4 days. Approximately 3.6% of the company’s stock are short sold.

In related news, EVP Erik Wilde sold 7,587 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $71.44, for a total transaction of $542,015.28. Following the transaction, the executive vice president now directly owns 11,196 shares of the company’s stock, valued at approximately $799,842.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Russell S. Minick sold 10,328 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $73.91, for a total value of $763,342.48. Following the transaction, the insider now directly owns 24,743 shares in the company, valued at $1,828,755.13. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. MML Investors Services LLC increased its holdings in shares of Generac by 2.4% in the 2nd quarter. MML Investors Services LLC now owns 7,553 shares of the technology company’s stock valued at $524,000 after acquiring an additional 175 shares during the last quarter. ETF Managers Group LLC increased its holdings in shares of Generac by 9.7% in the 1st quarter. ETF Managers Group LLC now owns 3,116 shares of the technology company’s stock valued at $160,000 after acquiring an additional 276 shares during the last quarter. CapWealth Advisors LLC increased its holdings in shares of Generac by 1.5% in the 2nd quarter. CapWealth Advisors LLC now owns 21,646 shares of the technology company’s stock valued at $1,502,000 after acquiring an additional 315 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Generac by 1.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 22,769 shares of the technology company’s stock valued at $1,580,000 after acquiring an additional 380 shares during the last quarter. Finally, Rhumbline Advisers grew its stake in Generac by 0.6% during the 1st quarter. Rhumbline Advisers now owns 80,982 shares of the technology company’s stock worth $4,149,000 after buying an additional 450 shares during the last quarter. Institutional investors and hedge funds own 96.54% of the company’s stock.

Shares of GNRC traded up $0.34 during trading on Friday, reaching $83.23. The company’s stock had a trading volume of 370,200 shares, compared to its average volume of 737,904. The company has a fifty day moving average of $75.02 and a two-hundred day moving average of $62.92. Generac has a twelve month low of $45.43 and a twelve month high of $84.86. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 2.66 and a beta of 1.19. The company has a quick ratio of 1.00, a current ratio of 2.19 and a debt-to-equity ratio of 1.18.

Generac (NYSE:GNRC) last announced its earnings results on Thursday, August 1st. The technology company reported $1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.12. Generac had a return on equity of 38.99% and a net margin of 12.09%. The company had revenue of $541.90 million for the quarter, compared to analyst estimates of $538.96 million. During the same period in the prior year, the company posted $1.11 EPS. Generac’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, equities analysts forecast that Generac will post 4.8 EPS for the current fiscal year.

A number of brokerages have issued reports on GNRC. Canaccord Genuity upped their target price on Generac from $74.00 to $80.00 and gave the company a “hold” rating in a research report on Friday, September 6th. ValuEngine lowered Generac from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research lowered Generac from a “buy” rating to a “hold” rating in a research report on Wednesday. Robert W. Baird raised Generac from a “neutral” rating to an “outperform” rating and upped their target price for the company from $64.00 to $86.00 in a research report on Monday, July 1st. Finally, Bank of America cut their target price on Generac from $88.00 to $83.00 and set a “buy” rating on the stock in a research report on Thursday, September 5th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $82.00.

About Generac

Generac Holdings Inc designs, manufactures, and sells power generation equipment and other power products for the residential, light commercial, and industrial markets worldwide. The company offers engines, alternators, transfer switches, and other components fueled by natural gas, liquid propane, gasoline, diesel, and bi-fuel.

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