Generac (NYSE:GNRC) Stock Price Down 5.6% – Should You Sell?

Generac Holdings Inc. (NYSE:GNRC) shares traded down 5.6% during mid-day trading on Wednesday . The stock traded as low as $245.00 and last traded at $246.3370. 324,829 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 1,023,639 shares. The stock had previously closed at $260.99.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating on shares of Generac in a research note on Tuesday, June 2nd. Citigroup lifted their price objective on Generac from $226.00 to $263.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. lifted their price objective on Generac from $229.00 to $267.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Stifel Nicolaus set a $275.00 price objective on Generac in a research note on Thursday, April 30th. Finally, Wells Fargo & Company boosted their target price on Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $276.88.

Generac Stock Performance

The firm has a 50 day moving average of $240.14 and a two-hundred day moving average of $199.62. The stock has a market cap of $14.26 billion, a PE ratio of 75.65, a PEG ratio of 2.49 and a beta of 1.93. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99.

Generac (NYSE:GNRC) last posted its earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.47. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Generac had a return on equity of 15.45% and a net margin of 4.37%.The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 earnings per share. Research analysts predict that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Norman P. Taffe sold 550 shares of Generac stock in a transaction on Friday, June 5th. The shares were sold at an average price of $272.26, for a total value of $149,743.00. Following the transaction, the insider directly owned 16,108 shares of the company’s stock, valued at $4,385,564.08. The trade was a 3.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Aaron Jagdfeld sold 5,000 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $272.18, for a total transaction of $1,360,900.00. Following the completion of the sale, the chief executive officer owned 564,528 shares of the company’s stock, valued at approximately $153,653,231.04. This trade represents a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Generac

A number of institutional investors and hedge funds have recently made changes to their positions in GNRC. Invesco Ltd. grew its holdings in shares of Generac by 49.9% during the fourth quarter. Invesco Ltd. now owns 2,423,971 shares of the technology company’s stock worth $330,557,000 after buying an additional 806,430 shares during the last quarter. State Street Corp raised its stake in Generac by 2.1% during the 2nd quarter. State Street Corp now owns 2,189,927 shares of the technology company’s stock valued at $313,619,000 after acquiring an additional 45,592 shares during the last quarter. Victory Capital Management Inc. lifted its position in Generac by 17.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,138,139 shares of the technology company’s stock worth $355,530,000 after acquiring an additional 324,809 shares during the period. Boston Partners lifted its position in Generac by 7.1% during the 3rd quarter. Boston Partners now owns 1,947,332 shares of the technology company’s stock worth $326,003,000 after acquiring an additional 128,439 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Generac by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,490,876 shares of the technology company’s stock valued at $202,943,000 after purchasing an additional 6,332 shares during the last quarter. 84.04% of the stock is owned by hedge funds and other institutional investors.

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.