Generac Reaches 52-Week High - Analyst Blog
June 10 2013 - 2:00PM
Zacks
Shares of Generac Holdings
Inc. (GNRC) hit a new 52-week high of $41.48 on Jun 7 and
eventually closed at $40.93. Shares of this diversified machinery
company have been gaining momentum since it reported solid first
quarter 2013 results on May 2.
Year-to-date, share prices have
recorded a healthy return of 19.3%. The company’s long-term
estimated EPS growth rate is 10.3%. Average volume of shares traded
over the last three months came in at approximately 932K.
Solid First Quarter
Performance
Generac posted impressive results
for the first quarter of 2013 with earnings per share of $1.21,
beating the Zacks Consensus Estimate by 23.5%. Earnings escalated
26.0% year over year due to increased sales and improved margins.
Soaring demand from households for
back up power and the acquisition of Ottomotores raised the
revenues in the quarter by 35.7% to $399.6 million. Revenues
surpassed the Zacks Consensus Estimate of $360.0 million by a
comfortable margin.
Management seems satisfied with the
results, increasing its guidance for the year. The estimated
revenue increase for 2013 over 2012 was roughly 10.0%, previously.
However, the rate of increase is now expected in a low-mid teen
percentage range.
Moreover, the consensus estimates
for Generac have mostly moved upwards for 2013 while moving in
either direction for 2014, subsequent to the earnings. The Zacks
Consensus Estimate for 2013 has increased 7.5% to $3.42, however,
moving up by only a penny to $3.37 for 2014, over the last sixty
days.
Other Stocks to
Consider
Generac has a market capitalization
of $2.80 billion and carries a Zacks Rank #2 (Buy). Other stocks
worth a look in the industry are Graco Inc. (GGG),
carrying a Zacks Rank #1 (Strong Buy); whereas, Broadwind
Energy, Inc. (BWEN) and Colfax
Corporation (CFX) carry a Zacks Rank #2 (Buy), each.
BROADWIND ENRGY (BWEN): Free Stock Analysis Report
COLFAX CORP (CFX): Free Stock Analysis Report
GRACO INC (GGG): Free Stock Analysis Report
GENERAC HOLDING (GNRC): Free Stock Analysis Report
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