Generac (NYSE:GNRC) Price Target Lowered to $226.00 at Citigroup

Key Points

• Citigroup cut its price target on Generac from $237 to $226 and kept a "neutral" rating, implying roughly a 5.44% upside from the stock's current price.
• Generac's latest quarter missed expectations (EPS $1.61 vs. $1.81 expected) and revenue fell to $1.09B (down 11.6% year-over-year), with the stock trading around $214.35 following the report.

Generac (NYSE:GNRC - Get Free Report) had its price objective lowered by equities research analysts at Citigroup from $237.00 to $226.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "neutral" rating on the technology company's stock. Citigroup's price objective indicates a potential upside of 5.44% from the stock's current price.

Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group boosted their price objective on shares of Generac from $275.00 to $300.00 and gave the company a "buy" rating in a report on Wednesday, April 1st. Jefferies Financial Group began coverage on shares of Generac in a report on Friday, March 20th. They set a "hold" rating and a $222.00 price objective on the stock. Stifel Nicolaus set a $235.00 price objective on shares of Generac in a report on Thursday, February 12th. TD Cowen boosted their price objective on shares of Generac from $220.00 to $255.00 and gave the company a "buy" rating in a report on Thursday, February 12th. Finally, Bank of America decreased their target price on shares of Generac from $260.00 to $248.00 and set a "buy" rating for the company in a research report on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Generac has an average rating of "Moderate Buy" and an average target price of $233.94.

Generac Stock Performance

Shares of GNRC traded down $2.91 during trading hours on Tuesday, reaching $214.35. 297,325 shares of the company traded hands, compared to its average volume of 1,094,688. The stock has a market capitalization of $12.58 billion, a P/E ratio of 79.97, a P/E/G ratio of 1.51 and a beta of 1.78. The company has a quick ratio of 1.00, a current ratio of 2.03 and a debt-to-equity ratio of 0.48. Generac has a 12-month low of $107.33 and a 12-month high of $241.09. The business has a fifty day moving average price of $210.19 and a 200-day moving average price of $178.57.

Generac (NYSE:GNRC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The technology company reported $1.61 earnings per share for the quarter, missing analysts' consensus estimates of $1.81 by ($0.20). The company had revenue of $1.09 billion for the quarter, compared to analysts' expectations of $1.16 billion. Generac had a net margin of 3.79% and a return on equity of 14.55%. Generac's quarterly revenue was down 11.6% compared to the same quarter last year. During the same period last year, the firm earned $2.80 earnings per share. Equities analysts anticipate that Generac will post 8.42 EPS for the current fiscal year.

Insider Transactions at Generac

In related news, CFO York A. Ragen sold 24,362 shares of the business's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $235.61, for a total transaction of $5,739,930.82. Following the completion of the transaction, the chief financial officer directly owned 137,182 shares in the company, valued at $32,321,451.02. The trade was a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new position in Generac during the third quarter valued at $26,000. Sentry Investment Management LLC raised its position in shares of Generac by 69.8% in the third quarter. Sentry Investment Management LLC now owns 163 shares of the technology company's stock worth $28,000 after acquiring an additional 67 shares during the period. First Horizon Corp acquired a new position in shares of Generac in the third quarter worth about $28,000. MUFG Securities EMEA plc acquired a new position in shares of Generac in the second quarter worth about $25,000. Finally, GHP Investment Advisors Inc. acquired a new position in shares of Generac in the first quarter worth about $36,000. 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.

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