Canaccord Genuity analyst Chip Moore maintained a Hold rating on Generac Holdings (NYSE: GNRC) yesterday and set a price target of $54. The company’s shares opened today at $44.94.
Moore noted:
“While Generac should continue to benefit from increased demand for power quality/ reliability solutions longer term, given the current secular trends we look for an entry point to become constructive again.”
According to TipRanks.com, Moore is a 3-star analyst with an average return of 6.8% and a 60.0% success rate. Moore covers the Consumer Goods sector, focusing on stocks such as Renewable Energy Group, Darling Ingredients, and Badger Meter.
Generac Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $52.25.
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Based on Generac Holdings’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $398 million and quarterly net profit of $25.98 million. In comparison, last year the company earned revenue of $332 million and had a net profit of $13.46 million.
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Generac Holdings, Inc. designs and manufactures power generation equipment and other engine powered products serving the residential, light commercial and industrial markets. It designs, manufactures, sources and modifies engines, alternators, transfer switches and other components, such as light towers, pumps and power washers for the residential, light commercial, industrial and construction markets. The company operates through the following segments: Domestic and International. The Domestic segment includes the legacy generac business. The International segment includes the ottomotores, tower light and pramac acquisitions. Both segments designs and manufactures power generation equipment and other engine powered products. Generac Holdings was founded in 2006 and is headquartered in Waukesha, WI.
