Generac (NYSE:GNRC) Stock Rating Lowered by Citigroup

Generac (NYSE:GNRC) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, MarketBeat reports. They currently have a $237.00 price objective on the technology company’s stock, up from their prior price objective of $207.00. Citigroup’s price target indicates a potential upside of 18.15% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group set a $275.00 target price on shares of Generac in a research report on Thursday, February 12th. Roth Mkm reiterated a “neutral” rating and issued a $220.00 price objective on shares of Generac in a report on Thursday, February 12th. Robert W. Baird set a $292.00 price objective on shares of Generac in a research report on Thursday, February 12th. Guggenheim restated a “neutral” rating and set a $202.00 target price on shares of Generac in a research note on Tuesday, February 10th. Finally, JPMorgan Chase & Co. raised Generac from a “neutral” rating to an “overweight” rating and set a $200.00 target price on the stock in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $222.06.

Generac Stock Down 1.7%

Shares of NYSE GNRC opened at $200.59 on Thursday. The stock has a fifty day moving average price of $191.17 and a 200 day moving average price of $174.49. The company has a current ratio of 2.03, a quick ratio of 1.00 and a debt-to-equity ratio of 0.48. Generac has a 12-month low of $99.50 and a 12-month high of $241.09. The company has a market cap of $11.77 billion, a P/E ratio of 74.85, a P/E/G ratio of 1.49 and a beta of 1.74.

Generac (NYSE:GNRC) last issued its quarterly earnings data on Wednesday, February 11th. The technology company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.20). The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.16 billion. Generac had a return on equity of 14.55% and a net margin of 3.79%.The company’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.80 EPS. Research analysts anticipate that Generac will post 8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO York A. Ragen sold 24,362 shares of Generac stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 137,182 shares in the company, valued at approximately $32,321,451.02. This trade represents a 15.08% decrease in their ownership of the stock. The transaction 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 Inflows and Outflows

Several hedge funds have recently made changes to their positions in GNRC. Massachusetts Financial Services Co. MA bought a new position in shares of Generac in the 3rd quarter worth about $70,744,000. Strs Ohio grew its position in shares of Generac by 583.4% during the 3rd quarter. Strs Ohio now owns 58,096 shares of the technology company’s stock valued at $9,725,000 after buying an additional 49,595 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Generac by 2.6% during the third quarter. Envestnet Asset Management Inc. now owns 597,559 shares of the technology company’s stock worth $100,031,000 after acquiring an additional 15,280 shares during the period. JPMorgan Chase & Co. lifted its holdings in Generac by 2.9% in the second quarter. JPMorgan Chase & Co. now owns 361,189 shares of the technology company’s stock worth $51,728,000 after acquiring an additional 10,325 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Generac by 30.5% in the third quarter. Principal Financial Group Inc. now owns 86,623 shares of the technology company’s stock worth $14,501,000 after acquiring an additional 20,270 shares during the last quarter. Institutional investors and hedge funds own 84.04% of the company’s stock.

Generac Company Profile

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.