Generac (NYSE:GNRC) Stock Price Down 10.3% – What’s Next?

Generac Holdings Inc. (NYSE:GNRC)’s share price traded down 10.3% during mid-day trading on Tuesday . The company traded as low as $230.00 and last traded at $231.2730. Approximately 511,870 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 1,022,328 shares. The stock had previously closed at $257.81.

Wall Street Analysts Forecast Growth

Several research firms have commented on GNRC. TD Cowen upped their price objective on shares of Generac from $255.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Wells Fargo & Company lifted their target price on shares of Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Bank of America lowered their price target on shares of Generac from $260.00 to $248.00 and set a “buy” rating on the stock in a research report on Thursday, March 26th. Raymond James Financial set a $302.00 price target on shares of Generac in a research note on Friday, May 22nd. Finally, Wall Street Zen raised shares of Generac from a “hold” rating to a “strong-buy” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $284.18.

Generac Stock Performance

The stock has a market capitalization of $13.69 billion, a PE ratio of 72.72, a P/E/G ratio of 2.36 and a beta of 1.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The business’s fifty day moving average price is $265.87 and its 200-day moving average price is $215.17.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, April 29th. The technology company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.33 by $0.47. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Generac had a net margin of 4.37% and a return on equity of 15.45%. Generac’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.26 earnings per share. As a group, equities research analysts expect that Generac Holdings Inc. will post 8.91 EPS for the current year.

Insider Buying and Selling at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on 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 owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. This represents a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Norman P. Taffe sold 550 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $272.26, for a total value of $149,743.00. Following the completion of the sale, the insider owned 16,108 shares in the company, valued at $4,385,564.08. This trade represents a 3.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Generac

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MUFG Securities EMEA plc bought a new position in Generac in the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Generac during the 3rd quarter valued at about $26,000. Avalon Trust Co purchased a new position in shares of Generac during the first quarter worth about $32,000. Essential Partners LLC increased its position in shares of Generac by 57.0% in the first quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after purchasing an additional 61 shares during the last quarter. Finally, GHP Investment Advisors Inc. purchased a new stake in Generac in the first quarter valued at approximately $36,000. 84.04% of the stock is currently owned by hedge funds and other 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.