Generac Holdings Inc (NYSE:GNRC) on Wednesday reported better-than-expected second-quarter earnings.

Generac reported quarterly earnings of $2.91 per share which beat the analyst consensus estimate of $2.01 per share. The company reported quarterly sales of $1.173 billion which missed the analyst consensus estimate of $1.177 billion.

“Second quarter results reflect continued momentum in our C&I segment driven by strong data center market revenue as we continue to ramp production for large megawatt backup generators,” said Aaron Jagdfeld, President and Chief Executive Officer. “We continued to solidify our position as a leading provider to the data center market by securing a global supply agreement with a second hyperscale customer during the quarter.”

Generac shares gained 2.4% to $199.92 in pre-market trading.

These analysts made changes to their price targets on Generac following earnings announcement.

• Barclays analyst Christine Cho maintained the stock with an Equal-Weight rating and lowered the price target from $285 to $278.
• Needham analyst Sean Milligan maintained the stock with a Buy and raised the price target from $282 to $283.

Considering buying GNRC stock? Here’s what analysts think:

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