Citigroup Lowers Generac (NYSE:GNRC) Price Target to $162.00

Generac (NYSE:GNRC) had its target price decreased by equities researchers at Citigroup from $172.00 to $162.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Citigroup’s target price would indicate a potential upside of 0.63% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Barclays began coverage on shares of Generac in a research report on Wednesday, December 4th. They set an “equal weight” rating and a $189.00 price objective for the company. StockNews.com upgraded Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. boosted their price objective on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. TD Cowen increased their target price on Generac from $172.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, The Goldman Sachs Group boosted their price target on Generac from $148.00 to $193.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.80.

Generac Stock Up 0.6 %

NYSE GNRC opened at $160.98 on Wednesday. Generac has a fifty-two week low of $108.89 and a fifty-two week high of $195.94. The business has a fifty day moving average price of $173.61 and a two-hundred day moving average price of $159.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.03 and a quick ratio of 0.96. The stock has a market capitalization of $9.58 billion, a PE ratio of 33.40, a PEG ratio of 2.04 and a beta of 1.42.

Generac (NYSE:GNRC) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.27. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. Generac’s revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $1.64 earnings per share. Equities analysts expect that Generac will post 6.84 earnings per share for the current fiscal year.

Insider Transactions at Generac

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the sale, the executive vice president now owns 10,738 shares of the company’s stock, valued at $1,971,282.04. This trade represents a 22.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $166.60, for a total transaction of $833,000.00. Following the transaction, the chief executive officer now owns 557,177 shares in the company, valued at $92,825,688.20. The trade was a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,268 shares of company stock valued at $7,577,703. Corporate insiders own 2.90% of the company’s stock.

Institutional Trading of Generac

Large investors have recently made changes to their positions in the company. Raymond James Trust N.A. boosted its holdings in Generac by 52.8% in the third quarter. Raymond James Trust N.A. now owns 3,407 shares of the technology company’s stock worth $541,000 after acquiring an additional 1,177 shares in the last quarter. Willis Investment Counsel lifted its holdings in shares of Generac by 18.7% in the 3rd quarter. Willis Investment Counsel now owns 105,007 shares of the technology company’s stock worth $16,684,000 after purchasing an additional 16,541 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Generac by 85.9% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,021 shares of the technology company’s stock valued at $928,000 after purchasing an additional 3,244 shares during the period. Principal Financial Group Inc. increased its stake in Generac by 5.0% during the 3rd quarter. Principal Financial Group Inc. now owns 71,272 shares of the technology company’s stock valued at $11,324,000 after purchasing an additional 3,426 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in Generac by 54.1% during the third quarter. Glenmede Trust Co. NA now owns 11,984 shares of the technology company’s stock worth $1,904,000 after buying an additional 4,209 shares during the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

Generac Company Profile

Generac Holdings Inc designs, manufactures, and distributes various energy technology products and solution worldwide. The company offers residential automatic standby generators, automatic transfer switch, air-cooled engine residential standby generators, and liquid-cooled engine generators; Mobile Link, a remote monitoring system for home standby generators; residential storage solution, which consists of a system of batteries, an inverter, photovoltaic optimizers, power electronic controls, and other components; smart home solutions, such as smart thermostats and a suite of home monitoring products.