Hurricane Milton’s Arrival Boosts Generac Stock by Over 8% Due to Increased Demand for Backup Power in Affected Areas

Govind Tekale

Generac Holdings (GNRC), a leading manufacturer of backup power generators stock climbs as hurricane nears.

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Generac's stock's new 52-week high of $175.69 during intraday trading fastest climb in stock.

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OTR Global upgraded Generac's rating from mixed to positive, citing research indicating growth in third-quarter U.S. residential sales of standby generators compared to the previous year. The firm projects continued growth in 2024.

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Generac currently holds stock ratings such as an 85 Composite Rating, an 88 Relative Strength Rating, and an 86 EPS Rating out of a possible 99.

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Other insurance companies saw a decline in stock prices like Allstate, Travelers, and Chubb.

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Universal Insurance, based in Fort Lauderdale, hurt the hardest as it closer location of customers in the same location as  the hurricane.

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The National Hurricane Center reports different from predictions made on Hurricane Milton.

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Landfall on Florida's west coast potential storm surge might occur from Tuesday.

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