Generac (NYSE:GNRC) Stock Price Down 11% – Time to Sell?

Generac Holdings Inc. (NYSE:GNRC) fell 11% during mid-day trading on Wednesday. The stock traded as low as $186.78 and last traded at $186.2540. 451,748 shares changed hands during trading, a decline of 59% from the average daily volume of 1,092,147 shares. The stock had previously closed at $209.28.

Analysts Set New Price Targets

Several research firms have recently commented on GNRC. KeyCorp reissued an “overweight” rating on shares of Generac in a report on Monday, October 26th. Cantor Fitzgerald cut their price objective on Generac from $333.00 to $297.00 and set an “overweight” rating for the company in a research report on Monday, October 5th. Wells Fargo & Company set a $280.00 target price on Generac in a report on Thursday, September 17th. Jefferies Financial Group restated a “buy” rating on shares of Generac in a research report on Thursday, October 29th. Finally, UBS Group reaffirmed a “buy” rating on shares of Generac in a research note on Friday, September 25th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Generac currently has a consensus rating of “Moderate Buy” and an average target price of $290.41.

Generac Stock Performance

The firm has a fifty day moving average of $199.20 and a 200-day moving average of $217.96. The company has a quick ratio of 1.06, a current ratio of 1.97 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 1.72 and a beta of 1.86.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, October 28th. The technology company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.14. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. Generac had a return on equity of 18.78% and a net margin of 6.52%. Generac’s revenue was up 16.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.83 earnings per share. As a group, sell-side analysts anticipate that Generac Holdings Inc. will post 9.80 EPS for the current year.

Insider Buying and Selling at Generac

In other Generac news, insider Norman P. Taffe sold 400 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $188.70, for a total value of $75,480.00. Following the sale, the insider owned 11,276 shares of the company’s stock, valued at $2,127,781.20. This represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kyle Raabe sold 603 shares of the stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $212.57, for a total transaction of $128,179.71. Following the completion of the sale, the insider owned 9,966 shares in the company, valued at $2,118,472.62. This represents a 5.71% decrease in their ownership of the stock. 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. In the last three months, insiders sold 12,892 shares of company stock worth $2,561,730. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Generac

Large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in shares of Generac in the second quarter valued at $1,170,960,000. Arrowstreet Capital Limited Partnership increased its position in Generac by 9.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,038,493 shares of the technology company’s stock worth $202,849,000 after purchasing an additional 86,863 shares in the last quarter. Bank of America Corp DE increased its position in Generac by 19.7% during the 1st quarter. Bank of America Corp DE now owns 742,576 shares of the technology company’s stock worth $145,047,000 after purchasing an additional 122,101 shares in the last quarter. Park Presidio Capital LLC acquired a new position in Generac in the 2nd quarter valued at about $158,140,000. Finally, Jennison Associates LLC raised its stake in Generac by 1.0% in the 1st quarter. Jennison Associates LLC now owns 520,628 shares of the technology company’s stock valued at $101,694,000 after purchasing an additional 4,985 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

About Generac

Generac Holdings Inc is a technology and energy solutions company that designs and manufactures power generation equipment and other energy-related products. Its offerings include standby and portable generators, commercial and industrial power systems, energy storage solutions, and products that help customers manage and monitor energy use.

The company serves residential, commercial, industrial, and utility customers. Its products are used for backup power, prime power, and distributed energy applications across homes, businesses, data centers, healthcare facilities, construction sites, and other critical operations.