Oppenheimer Reaffirms Their Hold Rating on Generac Holdings


Oppenheimer analyst Christopher Glynn maintained a Hold rating on Generac Holdings (NYSE: GNRC) today. The company’s shares opened today at $46.03.

Glynn commented:

“Aside from strong backdrop of major 2H17 outage events and ongoing favorable baseline power outage severity, GNRC clearly continues to leverage the backdrop to seed current residential success and long-term prospects, generating expansion in IHCs (in home consultations) and conversion rates, growing dealer penetration, and driving marketing (value engineering of product, adding Wi-Fi features, targeting campaigns). While run rates are high, we think GNRC continues to expand sustainable baselines. While sustainable baselines might, in theory, run below current run rates, they are expanding (in our view), and GNRC does assume some reversion to lower baseline outage for balance of 2018 guidance. C&I mobile drove 11% organic growth at that segment; later cycle stationary showing signs of emerging lift.”

According to TipRanks.com, Glynn is a 5-star analyst with an average return of 9.3% and a 61.2% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Roper Technologies.

Currently, the analyst consensus on Generac Holdings is Moderate Buy and the average price target is $52.25, representing a 13.5% upside.

In a report issued on May 2, Canaccord Genuity also maintained a Hold rating on the stock with a $54 price target.

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The company has a one-year high of $53.78 and a one-year low of $33.77. Currently, Generac Holdings has an average volume of 523.4K.

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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.

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