Generac Holdings Inc.’s GNRC subsidiary ecobee has launched the ecobee Smart Thermostat Lite. This durable thermostat offers enhanced reliability as it does not need  charging or an extra power source. It is now available exclusively through professional distribution channels.

ecobee's Smart Thermostat Lite brings together insights from HVAC professionals and feedback from customers across various generations of ecobee thermostats, making it an easy-to-install and dependable option for professional installers while being a straightforward solution for users.

Salient Features of New Smart Thermostat Lite 

The ecobee Smart Thermostat Lite’s seamless installation allows professionals to efficiently transition to their next project. Compatible with most HVAC systems, it handles multi-stage configurations of up to four stages for heating and two for cooling, as well as radiant and dual-fuel systems. Moreover, it supports various accessories like humidifiers and dehumidifiers for improved comfort. For installations lacking a C-wire, the thermostat can easily adapt using the ecobee Power Extender Kit. The Smart Thermostat Lite and the Power Extender Kit are available to professionals through their preferred distributor. Designed for longevity, the Smart Thermostat Lite also includes free over-the-air software updates, guaranteeing that customers receive the latest features over the long run.

To further support customers, the Smart Thermostat Lite can be registered with a Pro PIN, a unique code for qualified ecobee contractors. This feature allows the thermostat to display the contractor's contact information and send email notifications for support needs even after installation. Additionally, ecobee provides a dedicated Pro support line for assistance and backs its professionally installed products with a five-year warranty.

Founded in 2007, ecobee aims to enhance daily life while promoting sustainability. Since introducing the first smart thermostat in 2009, it has enabled customers across North America to save nearly 27.8 terawatt-hours of energy. In November 2021, ecobee became part of Generac.

Generac Holdings Inc. Price and Consensus

Generac Holdings Inc. price-consensus-chart | Generac Holdings Inc. Quote

Headquartered in Waukesha, Generac is a leading manufacturer of backup and prime power generation systems for residential and C&I applications, solar + battery storage solutions, advanced power grid software platforms and services, energy management devices and controls along with engine and battery-powered tools and equipment.

Higher Residential product sales drive Generac’s performance amid declining C&I product revenues. Power outage activities surged in the second quarter of 2024 owing to Hurricane Beryl, leading to an improvement in sales of home standby and portable generators, as residential product sales rose 8% year over year to $538 million. The company raised its sales guidance for 2024 owing to the heightened demand for backup power, now expecting revenues to increase 4-8% compared with the earlier view of 3-7%.

GNRC’s Zacks Rank & Stock Price Performance

GNRC currently carries a Zacks Rank #3 (Hold). Shares of the company have gained 72.5% in the past year compared with the sub-industry's growth of 55.7%.

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Stocks to Consider

Some better-ranked stocks from the broader technology space are Itron, Inc. ITRI, Cirrus Logic, Inc. CRUS and SS&C Technologies Holdings, Inc. SSNC.  ITRI & CRUS presently sport a Zacks Rank #1 (Strong Buy), whereas SSNC carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Itron is a technology and services company and one of the leading global suppliers of a wide range of standard, advanced, and smart meters and meter communication systems. It delivered an earnings surprise of 57%, on average, in the trailing four quarters. In the last reported quarter, ITRI pulled off an earnings surprise of 26%. 

Cirrus Logic’s performance is driven by increasing shipments in the smartphone market. Steady momentum in the laptop market and standout next-generation flagship smartphone design cushion the top line. CRUS delivered an earnings surprise of 56.6%, on average, in the trailing four quarters.

SS&C Technologies Holdings delivers investment and financial management software and related services focused exclusively on the financial services industry. It delivered an earnings surprise of 3.1%, on average, in the trailing four quarters. In the last reported quarter, SSNC pulled off an earnings surprise of 4.9%.

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