Veteran generator manufacturer Generac Holdings' (GNRC -0.46%) stock was full of energy for investors over the past few days. On the back of a solid quarterly earnings report and subsequent analyst price target hikes, the company's share price was up by a robust 24% week to date as of early Friday morning, according to data compiled by S&P Global Market Intelligence.

A big leap in profitability, accompanied by a double beat

Generac's second-quarter results, published before market open on Wednesday, revealed that the company's net sales grew by 6% year over year to a bit over $1.06 billion. The company's two customer segments -- residential, and commercial and industrial -- grew at roughly similar rates over that stretch of time.

A loose collection of 100 dollar bills.

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Non-GAAP (adjusted) net income saw a more dramatic improvement, increasing by more than 18% to $97 million, or $1.65 per share.

This meant a double beat for Generac, as the consensus analyst estimates for sales and adjusted net profit were $1.03 billion and $1.35 per share, respectively. Compounding that, management boosted the bottom ends of its full-year growth projections for both revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA).

A clutch of price target hikes

Analysts tracking Generac stock were rather impressed by this performance, with several going so far as to raise their price targets on the stock. One of the more aggressive boosts came from Cannacord Genuity's George Gianarikas, who cranked his fair value assessment to $250 per share from his previous $180. Almost needless to say, Gianarikas maintained his buy recommendation on the stock.