The wrath of hurricanes Harvey and Irma has led investors to bid up shares of the only publicly-traded U.S. company whose business mainly comes from selling backup power.
Generac Holdings Inc. has seen its stock price rise 19 percent since late August, just before the storms slammed into the southeastern U.S., knocking out power to millions. Demand for Generac’s portable generators could add about 20 percent to the Waukesha, Wisconsin-based company’s sales growth this year, according to Charles Brady, an analyst for SunTrust Robinson Humphrey.
