Shares of Generac Holdings Inc. (NYSE:GNRC – Get Rating) were down 4.4% during trading on Friday after Guggenheim downgraded the stock from a buy rating to a neutral rating. The stock traded as low as $123.14 and last traded at $125.16. Approximately 58,899 shares changed hands during trading, a decline of 96% from the average daily volume of 1,381,991 shares. The stock had previously closed at $130.96.
Several other research firms have also commented on GNRC. Oppenheimer cut their target price on shares of Generac from $135.00 to $115.00 in a research note on Thursday, December 8th. Canaccord Genuity Group downgraded shares of Generac from a “buy” rating to a “hold” rating and reduced their price target for the company from $485.00 to $104.00 in a research report on Friday, October 21st. Janney Montgomery Scott started coverage on shares of Generac in a research report on Wednesday, December 28th. They issued a “buy” rating and a $160.00 price target for the company. Argus downgraded shares of Generac from a “buy” rating to a “hold” rating in a research report on Friday, November 25th. Finally, Truist Financial reduced their price target on shares of Generac from $225.00 to $170.00 and set a “buy” rating for the company in a research report on Tuesday, October 25th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Generac currently has an average rating of “Hold” and an average price target of $226.05.
Insider Activity at Generac
In other news, Director Robert D. Dixon bought 2,000 shares of the stock in a transaction that occurred on Monday, December 5th. The shares were acquired at an average cost of $97.27 per share, for a total transaction of $194,540.00. Following the purchase, the director now owns 8,895 shares of the company’s stock, valued at approximately $865,216.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is currently owned by company insiders.
Institutional Trading of Generac
A number of hedge funds have recently bought and sold shares of GNRC. Artisan Partners Limited Partnership boosted its holdings in Generac by 92.8% in the 2nd quarter. Artisan Partners Limited Partnership now owns 1,692,209 shares of the technology company’s stock valued at $356,345,000 after purchasing an additional 814,325 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of Generac by 652.3% during the 2nd quarter. Macquarie Group Ltd. now owns 487,017 shares of the technology company’s stock worth $102,556,000 after acquiring an additional 422,280 shares during the period. Veritas Investment Partners UK Ltd. bought a new position in shares of Generac during the 2nd quarter worth about $67,051,000. Scout Investments Inc. lifted its holdings in shares of Generac by 92.3% during the 4th quarter. Scout Investments Inc. now owns 492,303 shares of the technology company’s stock worth $49,555,000 after acquiring an additional 236,264 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Generac by 11,907.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 231,254 shares of the technology company’s stock worth $41,196,000 after acquiring an additional 229,328 shares during the period. 88.71% of the stock is owned by institutional investors.
Generac Stock Down 4.0 %
The business’s fifty day moving average price is $103.55 and its 200 day moving average price is $157.62. The company has a market capitalization of $7.96 billion, a P/E ratio of 19.02, a P/E/G ratio of 1.74 and a beta of 1.19. The company has a current ratio of 2.09, a quick ratio of 0.80 and a debt-to-equity ratio of 0.55.
Generac (NYSE:GNRC – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The technology company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.13. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.09 billion. Generac had a net margin of 10.29% and a return on equity of 26.03%. As a group, equities research analysts predict that Generac Holdings Inc. will post 8.5 earnings per share for the current fiscal year.
About Generac
Generac Holdings, Inc engages in the design and manufacture of power generation equipment and other power products. It operates through the following segments: Domestic and International. The Domestic segment includes the legacy Generac, and the impact of acquisitions that are based in the U.S. and Canada.