Generac (NYSE:GNRC) Stock Price Down 4.5% – Here’s Why

Generac Holdings Inc. (NYSE:GNRC)’s stock price was down 4.5% during trading on Tuesday . The company traded as low as $149.17 and last traded at $148.26. Approximately 215,725 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 670,078 shares. The stock had previously closed at $155.30.

Analysts Set New Price Targets

Several research firms have commented on GNRC. Robert W. Baird dropped their price objective on shares of Generac from $187.00 to $181.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Piper Sandler upped their price target on shares of Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. TD Cowen boosted their target price on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Citigroup lowered their price target on Generac from $172.00 to $162.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.30.

Generac Stock Performance

The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The company has a market cap of $8.86 billion, a P/E ratio of 30.91, a P/E/G ratio of 1.60 and a beta of 1.42. The business has a fifty day moving average of $167.45 and a 200 day moving average of $161.62.

Generac (NYSE:GNRC) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.27. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a net margin of 7.17% and a return on equity of 16.70%. Generac’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 earnings per share. On average, equities analysts predict that Generac Holdings Inc. will post 6.91 EPS for the current year.

Insider Activity at Generac

In related news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total value of $585,069.46. Following the transaction, the executive vice president now owns 10,738 shares in the company, valued at $1,971,282.04. The trade was a 22.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO York A. Ragen sold 29,081 shares of Generac stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the transaction, the chief financial officer now directly owns 135,613 shares of the company’s stock, valued at $25,051,789.49. This trade represents a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,268 shares of company stock worth $7,577,703 over the last ninety days. 2.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Jennison Associates LLC raised its holdings in shares of Generac by 133.6% during the fourth quarter. Jennison Associates LLC now owns 672,213 shares of the technology company’s stock valued at $104,227,000 after purchasing an additional 384,434 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Generac by 114.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company’s stock valued at $88,944,000 after buying an additional 299,205 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Generac by 25,311.7% in the 3rd quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company’s stock worth $42,433,000 after buying an additional 266,026 shares during the last quarter. Stephens Investment Management Group LLC grew its holdings in shares of Generac by 678.5% in the third quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company’s stock worth $30,560,000 after acquiring an additional 167,641 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Generac by 498.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 126,121 shares of the technology company’s stock valued at $19,555,000 after acquiring an additional 105,063 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.