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

Generac (NYSE:GNRC) had its target price dropped by stock analysts at Citigroup from $172.00 to $162.00 in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Citigroup’s price objective indicates a potential upside of 2.04% from the company’s previous close.

GNRC has been the topic of several other research reports. Truist Financial raised their price objective on shares of Generac from $170.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Roth Mkm raised their price target on Generac from $160.00 to $175.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on Generac from $160.00 to $178.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. TD Cowen raised their price objective on Generac from $172.00 to $183.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus boosted their target price on Generac from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Generac presently has a consensus rating of “Moderate Buy” and an average price target of $174.80.

Generac Price Performance

Generac stock opened at $158.76 on Wednesday. The stock has a market cap of $9.45 billion, a price-to-earnings ratio of 32.94, a PEG ratio of 2.04 and a beta of 1.42. The company has a quick ratio of 0.96, a current ratio of 2.03 and a debt-to-equity ratio of 0.56. The business has a 50-day simple moving average of $173.48 and a 200 day simple moving average of $159.57. Generac has a 52 week low of $108.89 and a 52 week high of $195.94.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $2.25 EPS for the quarter, topping the consensus estimate of $1.98 by $0.27. The company had revenue of $1.17 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 earnings per share. On average, research analysts forecast 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 Generac stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the sale, the executive vice president now owns 10,738 shares of the company’s stock, valued at approximately $1,971,282.04. The trade was a 22.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO York A. Ragen sold 29,081 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total transaction of $5,372,133.13. Following the completion of the transaction, the chief financial officer now directly owns 135,613 shares of the company’s stock, valued at approximately $25,051,789.49. The trade was a 17.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,268 shares of company stock worth $7,577,703. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Generac

Several hedge funds have recently made changes to their positions in GNRC. Diversified Trust Co purchased a new position in Generac during the fourth quarter valued at $322,000. Nordea Investment Management AB purchased a new position in Generac during the 4th quarter valued at about $5,229,000. Modus Advisors LLC purchased a new position in Generac during the 4th quarter valued at about $27,000. GAMMA Investing LLC grew its holdings in Generac by 28.5% in the fourth quarter. GAMMA Investing LLC now owns 1,733 shares of the technology company’s stock worth $269,000 after purchasing an additional 384 shares during the period. Finally, Versant Capital Management Inc grew its holdings in Generac by 391.9% in the fourth quarter. Versant Capital Management Inc now owns 182 shares of the technology company’s stock worth $28,000 after purchasing an additional 145 shares during the period. 84.04% of the stock is currently 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.