Generac (NYSE:GNRC) Stock Price Down 5.6% – Here’s What Happened

Generac Holdings Inc. (NYSE:GNRC)’s stock price fell 5.6% during trading on Wednesday . The stock traded as low as $245.00 and last traded at $246.3370. 324,829 shares changed hands during trading, a decline of 68% from the average session volume of 1,023,639 shares. The stock had previously closed at $260.99.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GNRC. Zacks Research downgraded shares of Generac from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 4th. Needham & Company LLC reiterated a “buy” rating on shares of Generac in a report on Tuesday, June 2nd. Robert W. Baird set a $311.00 price target on shares of Generac in a report on Thursday, April 30th. Argus upped their price target on shares of Generac from $255.00 to $290.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Generac has an average rating of “Moderate Buy” and an average target price of $278.65.

Generac Price Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 2.03. The firm has a market capitalization of $15.18 billion, a P/E ratio of 80.81, a P/E/G ratio of 2.24 and a beta of 1.93. The stock’s 50 day simple moving average is $242.49 and its 200 day simple moving average is $201.11.

Generac (NYSE:GNRC) last issued its earnings results on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.47. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.26 EPS. As a group, analysts expect that Generac Holdings Inc. will post 8.91 earnings per share for the current fiscal year.

Insider Transactions at Generac

In other Generac news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $272.18, for a total value of $1,360,900.00. Following the transaction, the chief executive officer directly owned 564,528 shares in the company, valued at $153,653,231.04. This represents a 0.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $272.26, for a total transaction of $149,743.00. Following the completion of the transaction, the insider owned 16,108 shares in the company, valued at $4,385,564.08. This represents a 3.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Generac

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Generac during the third quarter valued at approximately $26,000. Avalon Trust Co bought a new position in shares of Generac during the first quarter valued at approximately $32,000. Essential Partners LLC boosted its stake in shares of Generac by 57.0% during the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock valued at $33,000 after purchasing an additional 61 shares in the last quarter. MUFG Securities EMEA plc bought a new position in shares of Generac during the second quarter valued at approximately $25,000. Finally, GHP Investment Advisors Inc. bought a new position in shares of Generac during the first quarter valued at approximately $36,000. 84.04% of the stock is currently owned by institutional investors.

Generac Company Profile

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.