Citigroup Cuts Generac (NYSE:GNRC) Price Target to $162.00

Generac (NYSE:GNRC) had its price objective decreased by Citigroup from $172.00 to $162.00 in a research note released on Wednesday, Marketbeat reports. Citigroup currently has a neutral rating on the technology company’s stock.

Several other research firms have also weighed in on GNRC. Barclays began coverage on Generac in a research note on Wednesday, December 4th. They issued an “equal weight” rating and a $189.00 target price on the stock. Roth Mkm boosted their price objective on shares of Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group lifted their price target on shares of Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. StockNews.com raised Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. Finally, Truist Financial increased their price target on Generac from $170.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.80.

Generac Stock Performance

Shares of NYSE:GNRC opened at $158.76 on Wednesday. The stock has a market capitalization of $9.45 billion, a P/E ratio of 32.94, a P/E/G ratio of 2.04 and a beta of 1.42. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. Generac has a 1-year low of $108.89 and a 1-year high of $195.94. The business has a 50-day moving average price of $173.61 and a two-hundred day moving average price of $159.57.

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 business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the business posted $1.64 earnings per share. Generac’s revenue was up 9.6% compared to the same quarter last year. Equities analysts predict that Generac will post 6.84 earnings per share for the current year.

Insider Buying and Selling

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the 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 completion of the sale, the chief executive officer now owns 570,825 shares in the company, valued at $89,904,937.50. This trade represents a 0.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Rajendra Kumar Kanuru sold 3,187 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $183.58, for a total transaction 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. This represents a 22.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,268 shares of company stock worth $7,577,703. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Generac

A number of hedge funds have recently made changes to their positions in the business. Raymond James Trust N.A. lifted 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 purchasing an additional 1,177 shares during the last quarter. Willis Investment Counsel lifted 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 worth $16,684,000 after buying an additional 16,541 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of 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 buying an additional 3,244 shares during the period. Principal Financial Group Inc. raised its holdings in Generac by 5.0% in the 3rd quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock valued at $11,324,000 after acquiring an additional 3,426 shares during the period. Finally, Glenmede Trust Co. NA lifted its position in Generac by 54.1% during the third quarter. Glenmede Trust Co. NA now owns 11,984 shares of the technology company’s stock worth $1,904,000 after acquiring an additional 4,209 shares during the last quarter. 84.04% of the stock is owned by institutional investors and hedge funds.

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.