Generac (NYSE:GNRC) Stock Price Down 3.7% – What’s Next?

Generac Holdings Inc. (NYSE:GNRC) shares were down 3.7% during mid-day trading on Thursday . The stock traded as low as $138.10 and last traded at $139.48. Approximately 870,665 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 981,726 shares. The stock had previously closed at $144.82.

Analyst Upgrades and Downgrades

GNRC has been the topic of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Generac in a research note on Wednesday, October 8th. Barclays increased their price objective on Generac from $188.00 to $197.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. Roth Capital set a $184.00 target price on Generac and gave the company a “neutral” rating in a report on Thursday, October 30th. UBS Group decreased their price target on Generac from $220.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $240.00 price objective on shares of Generac in a research report on Thursday, October 30th. Fourteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Generac currently has a consensus rating of “Moderate Buy” and an average price target of $191.28.

Generac Stock Down 6.1%

The stock’s fifty day moving average price is $164.42 and its 200 day moving average price is $164.45. The company has a current ratio of 2.18, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock has a market cap of $7.98 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 1.54 and a beta of 1.82.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, October 29th. The technology company reported $1.83 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.42). The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.20 billion. Generac had a net margin of 6.92% and a return on equity of 17.63%. Generac’s revenue for the quarter was down 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.25 earnings per share. As a group, research analysts forecast that Generac Holdings Inc. will post 8 earnings per share for the current fiscal year.

Insider Activity at Generac

In other news, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $166.43, for a total value of $832,150.00. Following the completion of the sale, the chief executive officer owned 542,966 shares of the company’s stock, valued at approximately $90,365,831.38. This represents a 0.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.70% of the company’s stock.

Institutional Trading of Generac

Several large investors have recently modified their holdings of the business. Allworth Financial LP lifted its holdings in Generac by 22.0% in the 3rd quarter. Allworth Financial LP now owns 3,340 shares of the technology company’s stock worth $559,000 after buying an additional 602 shares during the period. Swiss Life Asset Management Ltd increased its stake in shares of Generac by 7.0% during the third quarter. Swiss Life Asset Management Ltd now owns 18,043 shares of the technology company’s stock valued at $3,020,000 after buying an additional 1,173 shares during the period. Investment Research Partners LLC bought a new position in shares of Generac during the third quarter valued at approximately $278,000. CIBC Private Wealth Group LLC lifted its stake in Generac by 18.8% in the third quarter. CIBC Private Wealth Group LLC now owns 1,010 shares of the technology company’s stock worth $169,000 after acquiring an additional 160 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new stake in Generac in the third quarter valued at $1,003,000. 84.04% of the stock is owned by institutional investors.

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.