Generac (NYSE:GNRC) Shares Gap Down – What’s Next?

Generac Holdings Inc. (NYSE:GNRC) shares gapped down prior to trading on Thursday . The stock had previously closed at $172.29, but opened at $165.47. Generac shares last traded at $170.66, with a volume of 359,422 shares.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GNRC. JPMorgan Chase & Co. increased their price target on Generac from $149.00 to $155.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Roth Mkm lifted their target price on Generac from $135.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Robert W. Baird upped their price target on shares of Generac from $142.00 to $163.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. The Goldman Sachs Group lifted their price objective on shares of Generac from $129.00 to $148.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Stephens reiterated an “overweight” rating and issued a $200.00 target price on shares of Generac in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $154.71.

Generac Stock Performance

The stock has a market capitalization of $10.44 billion, a PE ratio of 44.51, a P/E/G ratio of 2.22 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.99 and a current ratio of 2.25. The firm has a 50 day moving average of $150.92 and a 200-day moving average of $144.27.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.15. Generac had a net margin of 6.03% and a return on equity of 15.35%. The business had revenue of $998.20 million during the quarter, compared to analyst estimates of $1 billion. During the same period in the prior year, the firm earned $1.08 earnings per share. The firm’s revenue was down .2% compared to the same quarter last year. Research analysts forecast that Generac Holdings Inc. will post 6.47 earnings per share for the current year.

Insider Activity

In related news, CEO Aaron Jagdfeld sold 5,000 shares of Generac stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $158.93, for a total transaction of $794,650.00. Following the completion of the sale, the chief executive officer now owns 562,177 shares of the company’s stock, valued at approximately $89,346,790.61. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Generac

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. William Blair Investment Management LLC acquired a new position in shares of Generac during the 2nd quarter worth $98,282,000. Wellington Management Group LLP increased its position in Generac by 432.9% during the fourth quarter. Wellington Management Group LLP now owns 392,270 shares of the technology company’s stock worth $50,697,000 after buying an additional 318,664 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in Generac by 831.1% during the first quarter. DAVENPORT & Co LLC now owns 240,111 shares of the technology company’s stock valued at $30,288,000 after buying an additional 214,322 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Generac by 29.2% in the second quarter. Blair William & Co. IL now owns 457,475 shares of the technology company’s stock worth $60,487,000 after buying an additional 103,439 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Generac by 21.4% during the 2nd quarter. Mackenzie Financial Corp now owns 420,121 shares of the technology company’s stock worth $55,548,000 after acquiring an additional 74,115 shares in the last quarter. Institutional investors own 84.04% of the company’s stock.

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.