Generac Holdings Inc.’s GNRC subsidiary, ecobee, has expanded its Smart Security offerings by collaborating with leading smart lock manufacturers Yale and August. ecobee Smart Security is an innovative home monitoring solution that empowers users to take full control of their living spaces.

With this partnership, ecobee Smart Security users in the United States and Canada can effortlessly lock their doors by linking Wi-Fi-enabled smart locks from Yale and August to their ecobee account. This allows them to activate their security systems from anywhere for enhanced protection.

Yale and August smart locks boost convenience through a variety of key-free entry solutions, such as keypads, fingerprint scanners and mobile app controls. The recent addition of smart lock technology enhances Smart Security’s protective capabilities. ecobee highlighted that in conjunction with its smart thermostats, this integrated system establishes a unified approach to energy management and security, fostering a comfortable and secure home atmosphere.

Users can also remotely control their front door locks and access smart locks through the Live View feature of the ecobee Smart Doorbell Camera in the ecobee app. This app enables quick arming and disarming of the home, provides an overview of lock status and grants guests access from anywhere.

Generac Holdings Inc. Price and Consensus

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

Yale Home specializes in smart home security, protecting important assets with smart locks and storage solutions for doors, cabinets and package deliveries. August Home provides smart locks and keypads that allow users to enjoy their lives without the inconvenience of keys while keeping their existing hardware intact. Both brands are part of Fortune Brands Innovations, with Yale Home as a companion brand to August Home.

ecobee Focuses on Innovations & Product Launches

Recently, ecobee launched the ecobee Smart Thermostat Lite. It 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. In May 2024, the firm unveiled an enhanced grid resiliency program to mitigate power outages caused by extreme weather, sustained high heat and natural disasters.

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, it became part of Generac.

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 92.3% in the past year compared with the sub-industry's growth of 21.9%.

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Stocks to Consider

Some better-ranked stocks from the broader technology space are Cirrus Logic, Inc. CRUS, BlackBerry Limited BB and SS&C Technologies Holdings, Inc. SSNC.  Both BB & 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.

Double-digit year-over-year revenue growth across Cybersecurity and IoT businesses is boosting Blackberry’s performance. It delivered an earnings surprise of 131.3%, on average, in the trailing four quarters. In the last reported quarter, BB pulled off an earnings surprise of 100%. 

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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