Shares of Generac Holdings Inc. (NYSE:GNRC – Get Rating) dropped 4.4% on Friday after Guggenheim downgraded the stock from a buy rating to a neutral rating. The company traded as low as $123.14 and last traded at $125.16. Approximately 58,899 shares traded hands during trading, a decline of 96% from the average daily volume of 1,381,991 shares. The stock had previously closed at $130.96.
GNRC has been the topic of a number of other research reports. Oppenheimer lowered their target price on Generac from $135.00 to $115.00 in a research note on Thursday, December 8th. Piper Sandler lowered their target price on Generac from $305.00 to $210.00 and set an "overweight" rating on the stock in a research note on Monday, October 17th. Jefferies Financial Group downgraded Generac from a "hold" rating to an "underperform" rating and lowered their target price for the company from $95.00 to $85.00 in a research note on Tuesday, November 29th. Cowen lowered their target price on Generac from $179.00 to $157.00 in a research note on Thursday, November 3rd. Finally, Roth Capital downgraded Generac from a "buy" rating to a "sell" rating and lowered their target price for the company from $320.00 to $75.00 in a research note on Thursday, October 20th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $226.05.
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Insider Buying and Selling at Generac
In other news, Director Robert D. Dixon purchased 2,000 shares of the business's stock in a transaction on Monday, December 5th. The stock was purchased at an average price of $97.27 per share, with a total value of $194,540.00. Following the acquisition, the director now directly owns 8,895 shares in the company, valued at approximately $865,216.65. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.80% of the company's stock.
Hedge Funds Weigh In On Generac
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Generac by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,950,406 shares of the technology company's stock worth $1,238,146,000 after buying an additional 81,342 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Generac by 5.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,393,799 shares of the technology company's stock worth $714,666,000 after acquiring an additional 185,898 shares during the last quarter. Artisan Partners Limited Partnership grew its position in Generac by 92.8% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,692,209 shares of the technology company's stock worth $356,345,000 after acquiring an additional 814,325 shares during the last quarter. Champlain Investment Partners LLC grew its position in Generac by 19.5% during the 2nd quarter. Champlain Investment Partners LLC now owns 1,293,350 shares of the technology company's stock worth $272,354,000 after acquiring an additional 211,470 shares during the last quarter. Finally, Impax Asset Management Group plc grew its position in Generac by 3.5% during the 3rd quarter. Impax Asset Management Group plc now owns 876,077 shares of the technology company's stock worth $155,216,000 after acquiring an additional 29,916 shares during the last quarter. 88.71% of the stock is owned by institutional investors and hedge funds.
Generac Stock Performance
The firm has a market capitalization of $7.76 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 1.74 and a beta of 1.19. The stock has a 50-day moving average of $103.89 and a 200 day moving average of $156.92. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.80 and a current ratio of 2.09.
Generac (NYSE:GNRC – Get Rating) last announced its quarterly earnings data on Wednesday, November 2nd. The technology company reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $1.62 by $0.13. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.09 billion. Generac had a return on equity of 26.03% and a net margin of 10.29%. On average, research analysts anticipate that Generac Holdings Inc. will post 8.5 earnings per share for the current year.
About Generac
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Generac Holdings, Inc engages in the design and manufacture of power generation equipment and other power products. It operates through the following segments: Domestic and International. The Domestic segment includes the legacy Generac, and the impact of acquisitions that are based in the U.S. and Canada.
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