Generac (NYSE:GNRC) Given New $226.00 Price Target at Citigroup

Generac (NYSE:GNRC) had its price target reduced by Citigroup from $237.00 to $226.00 in a report published on Tuesday morning,Benzinga reports. Citigroup currently has a neutral rating on the technology company’s stock.

Several other equities analysts have also issued reports on GNRC. Barclays boosted their price objective on Generac from $213.00 to $228.00 and gave the company an “equal weight” rating in a research report on Friday, March 27th. Guggenheim restated a “neutral” rating and set a $202.00 target price on shares of Generac in a report on Tuesday, February 10th. UBS Group reaffirmed a “buy” rating and issued a $270.00 price target on shares of Generac in a research note on Friday, February 13th. Roth Mkm reiterated a “neutral” rating and issued a $220.00 price target on shares of Generac in a report on Thursday, February 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $277.00 price objective on shares of Generac in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $233.94.

Generac Price Performance

GNRC opened at $214.09 on Tuesday. The stock has a market cap of $12.56 billion, a P/E ratio of 79.89, a P/E/G ratio of 2.15 and a beta of 1.78. Generac has a 12 month low of $107.33 and a 12 month high of $241.09. The company has a quick ratio of 1.00, a current ratio of 2.03 and a debt-to-equity ratio of 0.48. The company has a fifty day simple moving average of $210.83 and a 200 day simple moving average of $178.91.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, February 11th. The technology company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.81 by ($0.20). Generac had a return on equity of 14.55% and a net margin of 3.79%.The business had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm posted $2.80 earnings per share. The business’s revenue was down 11.6% on a year-over-year basis. On average, research analysts expect that Generac will post 8.42 EPS for the current year.

Insider Transactions at Generac

In other Generac news, CFO York A. Ragen sold 24,362 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total value of $5,739,930.82. Following the sale, the chief financial officer owned 137,182 shares in the company, valued at approximately $32,321,451.02. The trade was a 15.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of Generac

A number of hedge funds and other institutional investors have recently made changes to their positions in GNRC. DAVENPORT & Co LLC increased its stake in shares of Generac by 4.4% during the fourth quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company’s stock worth $53,190,000 after purchasing an additional 16,229 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Generac in the 3rd quarter valued at $70,744,000. Strs Ohio boosted its stake in Generac by 583.4% in the 3rd quarter. Strs Ohio now owns 58,096 shares of the technology company’s stock valued at $9,725,000 after purchasing an additional 49,595 shares during the period. Envestnet Asset Management Inc. grew its holdings in Generac by 2.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 597,559 shares of the technology company’s stock valued at $100,031,000 after buying an additional 15,280 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Generac by 30.5% in the 3rd quarter. Principal Financial Group Inc. now owns 86,623 shares of the technology company’s stock valued at $14,501,000 after buying an additional 20,270 shares in the last quarter. 84.04% of the stock is currently owned by institutional investors and hedge funds.

About Generac

Generac Holdings Inc (NYSE: GNRC) is a leading manufacturer of backup power generation products for residential, commercial and industrial applications. The company offers a comprehensive portfolio of standby and portable generators, transfer switches and power management systems designed to provide reliable electricity during power outages and other critical situations. With an emphasis on innovation, Generac has expanded its offerings to include clean energy technologies such as battery storage and integrated solar-plus-storage systems.

Generac’s product lineup addresses a broad range of customer needs.