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

Generac (NYSE:GNRC - Free Report) had its price target reduced by Citigroup from $172.00 to $162.00 in a research report sent to investors on Wednesday, Marketbeat.com reports. They currently have a neutral rating on the technology company's stock.

A number of other equities analysts have also commented on the stock. Barclays initiated coverage on shares of Generac in a research report on Wednesday, December 4th. They set an "equal weight" rating and a $189.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of Generac from $148.00 to $193.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Piper Sandler increased their price target on Generac from $190.00 to $200.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. TD Cowen lifted 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, Roth Mkm increased their target price on Generac from $160.00 to $175.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Generac has an average rating of "Moderate Buy" and an average target price of $174.80.

Generac Stock Performance

Shares of NYSE:GNRC traded down $2.24 on Wednesday, hitting $158.76. The company had a trading volume of 726,848 shares, compared to its average volume of 662,149. The stock has a 50 day moving average price of $173.61 and a 200 day moving average price of $159.57. The company has a current ratio of 2.03, a quick ratio of 0.96 and a debt-to-equity ratio of 0.56. The stock has a market cap of $9.45 billion, a price-to-earnings ratio of 32.94, a P/E/G ratio of 2.04 and a beta of 1.42. Generac has a 1-year low of $108.89 and a 1-year high of $195.94.

Generac (NYSE:GNRC - Get Free Report) last announced its earnings results on Thursday, October 31st. The technology company reported $2.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.27. The company had revenue of $1.17 billion for 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%. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.64 earnings per share. Analysts expect that Generac will post 6.84 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Rajendra Kumar Kanuru sold 3,187 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $183.58, for a total transaction of $585,069.46. Following the completion of the sale, the executive vice president now directly owns 10,738 shares in the company, valued at $1,971,282.04. This represents a 22.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Aaron Jagdfeld sold 5,000 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $157.50, for a total transaction of $787,500.00. Following the completion of the transaction, the chief executive officer now owns 570,825 shares in the company, valued at approximately $89,904,937.50. The trade was a 0.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,268 shares of company stock valued at $7,577,703 in the last ninety days. 2.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. William Blair Investment Management LLC acquired a new stake in Generac in the second quarter worth $98,282,000. The Manufacturers Life Insurance Company grew its position in Generac by 114.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 559,816 shares of the technology company's stock valued at $88,944,000 after purchasing an additional 299,205 shares during the period. Jennison Associates LLC bought a new stake in Generac during the 3rd quarter valued at $45,722,000. International Assets Investment Management LLC raised its holdings in Generac by 25,311.7% during the third quarter. International Assets Investment Management LLC now owns 267,077 shares of the technology company's stock worth $42,433,000 after buying an additional 266,026 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in shares of Generac by 678.5% in the third quarter. Stephens Investment Management Group LLC now owns 192,349 shares of the technology company's stock valued at $30,560,000 after buying an additional 167,641 shares in the last quarter. 84.04% of the stock is owned by 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.