Oppenheimer Issues a Buy Rating on Generac Holdings (GNRC)

In a report released yesterday, Christopher Glynn from Oppenheimer assigned a Buy rating to Generac Holdings (GNRC), with a price target of $235.00. The company’s shares closed last Wednesday at $217.11.

According to TipRanks.com, Glynn is a 5-star analyst with an average return of 9.6% and a 61.1% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Wesco International, and Acuity Brands.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Generac Holdings with a $227.18 average price target, implying a 10.4% upside from current levels. In a report issued on October 15, Stephens also initiated coverage with a Buy rating on the stock with a $250.00 price target.

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Based on Generac Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $547 million and net profit of $66.15 million. In comparison, last year the company earned revenue of $542 million and had a net profit of $61.96 million.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GNRC in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Generac Holdings, Inc. engages in the design and manufacture of power generation equipment and other power products. It operates through the following segments: Domestic and International. The Domestic segment includes the legacy Generac, and the impact of acquisitions that are based in the United States. The International segment comprises of ottomotors, tower light, pramac, motortech, and selmec businesses. The company was founded in 1959 and is headquartered in Waukesha, WI.

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