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

Generac Holdings Inc. (NYSE:GNRC) fell 4.5% on Tuesday . The stock traded as low as $149.17 and last traded at $148.26. 215,725 shares traded hands during trading, a decline of 68% from the average session volume of 670,078 shares. The stock had previously closed at $155.30.

Analyst Upgrades and Downgrades

GNRC has been the subject of several research reports. StockNews.com raised shares of Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Piper Sandler raised their price objective on Generac from $190.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. TD Cowen lifted their price target on Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Barclays initiated coverage on Generac in a research note on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Generac has an average rating of “Moderate Buy” and a consensus target price of $174.30.

Generac Stock Up 2.6 %

The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The company has a market cap of $9.05 billion, a price-to-earnings ratio of 31.54, a P/E/G ratio of 1.60 and a beta of 1.42. The stock’s 50-day moving average is $166.18 and its 200-day moving average is $161.49.

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

Insider Transactions at Generac

In related 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 completion of the sale, the chief financial officer now owns 135,613 shares in the company, valued at approximately $25,051,789.49. This represents a 17.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $157.50, for a total value of $787,500.00. Following the transaction, the chief executive officer now owns 570,825 shares in the company, valued at approximately $89,904,937.50. This trade represents a 0.87 % 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 valued at $7,577,703 over the last ninety days. 2.90% of the stock is owned by company insiders.

Institutional Trading of Generac

Several institutional investors and hedge funds have recently made changes to their positions in the company. James Investment Research Inc. grew its stake in Generac by 2.4% in the 4th quarter. James Investment Research Inc. now owns 10,193 shares of the technology company’s stock valued at $1,580,000 after purchasing an additional 241 shares during the period. Secured Retirement Advisors LLC bought a new position in Generac during the fourth quarter valued at about $1,080,000. Allworth Financial LP increased its holdings in Generac by 3.0% during the fourth quarter. Allworth Financial LP now owns 2,738 shares of the technology company’s stock worth $435,000 after buying an additional 80 shares during the last quarter. Valeo Financial Advisors LLC purchased a new position in Generac in the fourth quarter valued at about $246,000. Finally, New York State Teachers Retirement System grew its position in shares of Generac by 8.8% during the 4th quarter. New York State Teachers Retirement System now owns 55,982 shares of the technology company’s stock valued at $8,680,000 after acquiring an additional 4,550 shares during the period. Hedge funds and other 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.