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Generac Holdings (GNRC) is a Top-Ranked Momentum Stock: Should You Buy?

·2-min read

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

Generac Holdings (GNRC)

Headquartered in Waukesha, WI, and founded in 1959, Generac Holdings Inc. is a leading manufacturer of power generation equipment, energy storage systems and other power products including portable, residential, commercial and industrial generators. In addition, the company manufactures light towers, which provide temporary lighting solutions for various end markets, and commercial and industrial mobile heaters and pumps that are used in the oil & gas, construction and other industrial markets. Its product portfolio also includes engines, alternators, transfer switches, mobile heaters, power washers, water pumps, energy monitoring devices and other components of outdoor power equipment for residential and commercial use. The company has a wide distribution network spanning independent residential dealers, industrial distributors and dealers, national and regional retailers, e-commerce partners, wholesalers, equipment rental companies, equipment distributors, and solar installers. It also boasts a direct sales channel to various individual customers.

GNRC boasts a Momentum Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of Generac Holdings has seen some interesting price action recently; the stock is down 5.2% over the past one week and up 5.8% over the past four weeks. And in the last one-year period, GNRC has lost 39.7%. As for the stock's trading volume, 902,071.81 shares on average were traded over the last 20 days.

A company's earnings performance is important for momentum investors as well. For fiscal 2022, six analysts revised their earnings estimate higher in the last 60 days for GNRC, while the Zacks Consensus Estimate has increased $0.11 to $11.85 per share. GNRC also boasts an average earnings surprise of 6.7%.

Investors should take the time to consider GNRC for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.


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