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

Generac (NYSE:GNRC) had its price objective reduced by Citigroup from $172.00 to $162.00 in a research note published on Wednesday morning, MarketBeat Ratings reports. They currently have a neutral rating on the technology company’s stock.

A number of other equities analysts have also recently weighed in on GNRC. TD Cowen upped their price target on Generac from $172.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Truist Financial raised their price target on shares of Generac from $170.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Piper Sandler boosted their price objective on shares of Generac from $190.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Robert W. Baird lowered their target price on Generac from $187.00 to $181.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, StockNews.com upgraded Generac from a “hold” rating to a “buy” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Generac currently has an average rating of “Moderate Buy” and an average target price of $174.80.

Generac Price Performance

GNRC opened at $157.44 on Wednesday. Generac has a 52-week low of $108.89 and a 52-week high of $195.94. The company has a 50 day moving average of $173.34 and a two-hundred day moving average of $159.56. The company has a market cap of $9.37 billion, a P/E ratio of 32.66, a P/E/G 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.

Generac (NYSE:GNRC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.27. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Generac had a return on equity of 16.70% and a net margin of 7.17%. The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 EPS. On average, analysts expect that Generac will post 6.84 earnings per share for the current year.

Insider Transactions at Generac

In other news, CFO York A. Ragen sold 29,081 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.73, for a total value of $5,372,133.13. Following the completion of the sale, the chief financial officer now owns 135,613 shares of the company’s stock, valued at $25,051,789.49. This trade represents a 17.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Aaron Jagdfeld sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $166.60, for a total value of $833,000.00. Following the sale, the chief executive officer now owns 557,177 shares of the company’s stock, valued at $92,825,688.20. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,268 shares of company stock valued at $7,577,703 over the last three months. Company insiders own 2.90% of the company’s stock.

Institutional Trading of Generac

A number of hedge funds have recently made changes to their positions in GNRC. Modus Advisors LLC purchased a new stake in Generac in the 4th quarter worth approximately $27,000. Versant Capital Management Inc increased its stake in shares of 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 acquiring an additional 145 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Generac during the third quarter valued at $31,000. SouthState Corp purchased a new position in Generac in the third quarter valued at about $32,000. Finally, Sunbelt Securities Inc. increased its position in Generac by 97.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 203 shares of the technology company’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

About Generac

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.