Generac (NYSE:GNRC) Downgraded to “Neutral” Rating by Citigroup

Generac (NYSE:GNRC) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday. They currently have a $237.00 price objective on the technology company’s stock. Citigroup’s target price would suggest a potential upside of 11.48% from the stock’s current price.

Several other analysts have also issued reports on the stock. Wells Fargo & Company upped their target price on shares of Generac from $185.00 to $234.00 and gave the stock an “overweight” rating in a research note on Thursday, February 12th. Stifel Nicolaus set a $235.00 price objective on shares of Generac in a research report on Thursday, February 12th. JPMorgan Chase & Co. upgraded shares of Generac from a “neutral” rating to an “overweight” rating and set a $200.00 price objective for the company in a research note on Monday, December 8th. TD Cowen boosted their target price on Generac from $220.00 to $255.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, Bank of America reduced their target price on Generac from $236.00 to $224.00 and set a “buy” rating for the company in a report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Generac presently has an average rating of “Moderate Buy” and an average target price of $222.06.

Generac Stock Up 0.9%

GNRC stock opened at $212.60 on Thursday. The firm has a market capitalization of $12.48 billion, a PE ratio of 79.33, a P/E/G ratio of 1.53 and a beta of 1.74. The company has a quick ratio of 1.00, a current ratio of 2.03 and a debt-to-equity ratio of 0.48. Generac has a twelve month low of $99.50 and a twelve month high of $241.09. The stock’s 50 day moving average is $188.62 and its 200-day moving average is $174.23.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.20). Generac had a return on equity of 14.55% and a net margin of 3.79%.The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the company posted $2.80 EPS. The company’s quarterly revenue was down 11.6% compared to the same quarter last year. Sell-side analysts expect that Generac will post 8 EPS for the current fiscal year.

Insider Buying and Selling

In other Generac news, CFO York A. Ragen sold 24,362 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total value of $5,739,930.82. Following the transaction, the chief financial officer directly owned 137,182 shares in the company, valued at $32,321,451.02. The trade was a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Generac

A number of hedge funds have recently modified their holdings of the stock. MUFG Securities EMEA plc bought a new position in Generac during the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd bought a new position in Generac during the third quarter worth about $26,000. First Horizon Corp purchased a new position in shares of Generac in the third quarter worth about $28,000. Sentry Investment Management LLC raised its position in shares of Generac by 69.8% in the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company’s stock valued at $28,000 after purchasing an additional 67 shares during the period. Finally, Quent Capital LLC bought a new stake in shares of Generac in the third quarter valued at approximately $41,000. Institutional investors own 84.04% of the company’s stock.

About Generac

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.