Canaccord Genuity Releases a Hold Rating on Generac Holdings

By Ryan Adsit

Canaccord Genuity analyst John Quealy reiterated a Hold rating on Generac Holdings (NYSE: GNRC) yesterday and set a price target of $40. The company’s shares closed yesterday at $35.97.

According to TipRanks.com, Quealy is a 4-star analyst with an average return of 5.2% and a 51.8% success rate. Quealy covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Darling Ingredients, and Ceco Environmental.

Currently, the analyst consensus on Generac Holdings is Moderate Buy and the average price target is $40, representing an 11.2% upside.

In a report issued on April 5, KeyBanc also downgraded the stock to Hold.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2016, Russell Minick, the Executive Vice President Sales of GNRC sold 8,300 shares for a total of $351,090.

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Generac Holdings, Inc. designs and manufactures generators and other engine powered products. 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 was founded in 2006 and is headquartered in Waukesha, WI.