Generac (NYSE:GNRC) Stock Price Down 10.1% – Here’s What Happened

Shares of Generac Holdings Inc. (NYSE:GNRC) traded down 10.1% during trading on Wednesday . The company traded as low as $183.83 and last traded at $188.0280. 852,193 shares were traded during trading, a decline of 27% from the average session volume of 1,164,694 shares. The stock had previously closed at $209.21.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GNRC shares. Roth Mkm reiterated a “neutral” rating and issued a $220.00 price objective on shares of Generac in a report on Thursday, February 12th. TD Cowen increased their target price on Generac from $220.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Jefferies Financial Group began coverage on Generac in a research report on Friday, March 20th. They issued a “hold” rating and a $222.00 target price on the stock. Stifel Nicolaus set a $235.00 price target on Generac in a research report on Thursday, February 12th. Finally, Wells Fargo & Company increased their price objective on Generac from $185.00 to $234.00 and gave the company an “overweight” rating in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $222.06.

Generac Stock Performance

The company has a market cap of $12.03 billion, a PE ratio of 76.54, a PEG ratio of 1.47 and a beta of 1.74. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.00 and a current ratio of 2.03. The firm’s 50 day moving average is $198.50 and its 200-day moving average is $175.32.

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

Insider Activity

In other news, CFO York A. Ragen sold 24,362 shares of Generac stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the transaction, the chief financial officer owned 137,182 shares in the company, valued at $32,321,451.02. The trade was a 15.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Generac

Several hedge funds and other institutional investors have recently bought and sold shares of GNRC. Rockefeller Capital Management L.P. grew its stake in shares of Generac by 53.8% in the 4th quarter. Rockefeller Capital Management L.P. now owns 22,951 shares of the technology company’s stock valued at $3,130,000 after buying an additional 8,026 shares during the period. Meadowbrook Advisors Group LLC acquired a new position in Generac in the fourth quarter valued at approximately $368,000. Hsbc Holdings PLC grew its position in Generac by 42.8% in the fourth quarter. Hsbc Holdings PLC now owns 93,080 shares of the technology company’s stock worth $12,711,000 after acquiring an additional 27,893 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Generac by 166.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 418 shares of the technology company’s stock worth $57,000 after acquiring an additional 261 shares during the period. Finally, MidFirst Bank acquired a new stake in Generac during the fourth quarter worth $580,000. 84.04% of the stock is currently owned by institutional investors and hedge funds.

About Generac

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.