Generac Holdings (GNRC) is Downgraded by BofA/Merrill to Neutral

Generac Holdings (GNRC) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Aug 1, 2016.

On the company’s financial health, Generac Holdings reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.42. The company had revenue of $286.50 million for the quarter, compared to analysts expectations of $280.48 million. The company’s revenue was down -8.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.49 EPS.

Generac Holdings opened for trading at $37.58 and hit $38.05 on the upside on Friday, eventually ending the session at $37.79, with a gain of 0.61% or 0.23 points. The heightened volatility saw the trading volume jump to 4,47,515 shares. Company has a market cap of $2,515 M.

In a different news, on May 27, 2016, York A. Ragen (Chief Financial Officer) sold 12,500 shares at $37.46 per share price. According to the SEC, on Jun 17, 2015, Aaron Jagdfeld (Pres. and CEO) sold 3,972 shares at $40.05 per share price. On Feb 18, 2015, Russell S Minick (Executive Vice President) sold 12,636 shares at $50.12 per share price, according to the Form-4 filing with the securities and exchange commission.

Generac Holdings Inc. 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 other engine powered products that it 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 power washers for residential and commercial use. It designs manufactures sources and modifies engines alternators transfer switches and other components necessary for its products. It also sells direct to certain national and regional account customers including telecommunication retail banking convenience stores grocery stores and other light commercial applications. Its products include residential products commercial and industrial (C&I) products and other products.

Generac Holdings

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