On July 30, Generac rose 5.25% in pre-market trading, trading at $205.44/share, with turnover of $134,300. The stock continued its upward momentum following the release of strong second-quarter results.

Generac reported Q2 adjusted earnings of $2.91 per diluted share, surging 76.36% year-over-year and beating the analyst consensus estimate of $2.01 by 44.78%. Net sales came in at $1.173 billion, up 10.4% year-over-year, roughly in line with the $1.177 billion estimate. The company highlighted further acceleration in its Commercial & Industrial segment driving robust operating leverage during the quarter, while a rapidly increasing data center backlog provides visibility to significant growth ahead.

Generac maintained its full-year net sales growth guidance in the mid-to-high teens percent range (approximately 15%-19%) compared to the prior year, with full-year net income margin expected at approximately 9.0% to 10.0%. Following the results, JPMorgan trimmed its price target to $261 from $267 while maintaining an overweight stance, and analysts polled by FactSet hold an average overweight rating with a mean price target of $295.86.

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