Citigroup Issues Pessimistic Forecast for Generac (NYSE:GNRC) Stock Price

Generac (NYSE:GNRC) had its price target lowered by equities research analysts at Citigroup from $172.00 to $162.00 in a research note issued on Wednesday, Marketbeat reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Citigroup’s price objective points to a potential upside of 2.04% from the company’s previous close.

A number of other brokerages have also recently issued reports on GNRC. StockNews.com upgraded Generac from a “hold” rating to a “buy” rating in a report on Monday, October 28th. The Goldman Sachs Group raised their price objective on shares of Generac from $148.00 to $193.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Roth Mkm boosted their target price on shares of Generac from $160.00 to $175.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen upped their target price on shares of Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Barclays started coverage on Generac in a research note on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 price target for the company. One 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. According to data from MarketBeat.com, Generac currently has an average rating of “Moderate Buy” and an average target price of $174.80.

Generac Stock Down 1.4 %

Generac stock opened at $158.76 on Wednesday. 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 capitalization of $9.45 billion, a PE ratio of 32.94, a PEG ratio of 2.04 and a beta of 1.42. The firm’s fifty day moving average is $173.48 and its 200 day moving average is $159.57. Generac has a 12-month low of $108.89 and a 12-month high of $195.94.

Generac (NYSE:GNRC) last released its quarterly earnings data 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. Generac had a net margin of 7.17% and a return on equity of 16.70%. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The business’s revenue was up 9.6% on a year-over-year basis. As a group, sell-side analysts predict that Generac will post 6.84 EPS for the current fiscal year.

Insider Buying and Selling at Generac

In other news, CFO York A. Ragen sold 29,081 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 135,613 shares of the company’s stock, valued at $25,051,789.49. This represents a 17.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction on Wednesday, November 6th. The stock was 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 of the company’s stock, valued at $1,971,282.04. The trade was a 22.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,268 shares of company stock worth $7,577,703 over the last three months. 2.90% of the stock is currently owned by insiders.

Institutional Trading of Generac

Hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Trust N.A. raised its holdings in Generac by 52.8% during the 3rd quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company’s stock valued at $541,000 after acquiring an additional 1,177 shares during the period. Willis Investment Counsel raised its stake in shares of Generac by 18.7% during the 3rd quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock valued at $16,684,000 after purchasing an additional 16,541 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Generac by 85.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock worth $928,000 after purchasing an additional 3,244 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Generac by 5.0% in the 3rd quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock worth $11,324,000 after purchasing an additional 3,426 shares during the period. Finally, Glenmede Trust Co. NA grew its holdings in Generac by 54.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 11,984 shares of the technology company’s stock valued at $1,904,000 after buying an additional 4,209 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

About Generac

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.