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.
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.
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.
Other insurance companies saw a decline in stock prices like Allstate, Travelers, and Chubb.
Universal Insurance, based in Fort Lauderdale, hurt the hardest as it closer location of customers in the same location as the hurricane.
The National Hurricane Center reports different from predictions made on Hurricane Milton.
Landfall on Florida's west coast potential storm surge might occur from Tuesday.