Generac Holdings Inc. (NYSE:GNRC – Get Rating)’s share price traded down 2.2% during mid-day trading on Wednesday after Guggenheim lowered their price target on the stock from $180.00 to $120.00. Guggenheim currently has a buy rating on the stock. Generac traded as low as $88.05 and last traded at $88.97. 53,558 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 1,332,434 shares. The stock had previously closed at $90.93.
A number of other equities analysts have also weighed in on the company. Oppenheimer decreased their target price on Generac from $135.00 to $115.00 in a research report on Thursday, December 8th. Stifel Nicolaus reduced their price target on shares of Generac from $150.00 to $98.00 and set a “hold” rating for the company in a research report on Tuesday, December 13th. The Goldman Sachs Group reduced their price target on shares of Generac from $406.00 to $346.00 and set a “buy” rating for the company in a research report on Friday, October 14th. Truist Financial reduced their target price on shares of Generac from $225.00 to $170.00 and set a “buy” rating for the company in a report on Tuesday, October 25th. Finally, Bank of America downgraded Generac from a “buy” rating to a “neutral” rating in a research note on Thursday, October 6th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and an average price target of $230.65.
Insider Activity at Generac
In other Generac news, Director Robert D. Dixon purchased 2,000 shares of the stock in a transaction on Monday, December 5th. The stock was acquired at an average price of $97.27 per share, with a total value of $194,540.00. Following the completion of the acquisition, the director now owns 8,895 shares in the company, valued at $865,216.65. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, Director Robert D. Dixon bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 5th. The stock was purchased at an average price of $97.27 per share, with a total value of $194,540.00. Following the completion of the acquisition, the director now directly owns 8,895 shares of the company’s stock, valued at approximately $865,216.65. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $119.05, for a total value of $595,250.00. Following the transaction, the chief executive officer now owns 595,975 shares of the company’s stock, valued at $70,950,823.75. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.
Institutional Trading of Generac
A number of institutional investors and hedge funds have recently made changes to their positions in GNRC. Fairfield Bush & CO. boosted its stake in Generac by 83.2% during the first quarter. Fairfield Bush & CO. now owns 7,102 shares of the technology company’s stock worth $2,111,000 after buying an additional 3,225 shares during the last quarter. Van ECK Associates Corp boosted its stake in Generac by 10.4% during the first quarter. Van ECK Associates Corp now owns 8,034 shares of the technology company’s stock worth $2,388,000 after buying an additional 756 shares during the last quarter. Aaron Wealth Advisors LLC acquired a new position in Generac during the first quarter worth $54,000. WINTON GROUP Ltd acquired a new position in Generac during the first quarter worth $1,343,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in Generac by 7.2% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 10,580 shares of the technology company’s stock worth $3,145,000 after buying an additional 714 shares during the last quarter. 90.40% of the stock is currently owned by hedge funds and other institutional investors.
Generac Price Performance
The stock has a 50 day simple moving average of $108.06 and a two-hundred day simple moving average of $184.75. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.08 and a beta of 1.14. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.09 and a quick ratio of 0.80.
Generac (NYSE:GNRC – Get Rating) last announced its quarterly earnings results on Wednesday, November 2nd. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.62 by $0.13. Generac had a return on equity of 26.03% and a net margin of 10.29%. The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. On average, equities research analysts predict that Generac Holdings Inc. will post 8.57 earnings per share for the current fiscal year.
About Generac
Generac Holdings Inc designs, manufactures, and sells power generation equipment, energy storage systems, and other power products for the residential, and light commercial and industrial markets worldwide. The company offers engines, alternators, batteries, electronic controls, steel enclosures, and other components.