Bank of America Has Lowered Expectations for Generac (NYSE:GNRC) Stock Price

Generac (NYSE:GNRC) had its target price reduced by stock analysts at Bank of America from $260.00 to $248.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Bank of America‘s price target would indicate a potential upside of 20.80% from the stock’s current price.

A number of other brokerages also recently commented on GNRC. Guggenheim reissued a “neutral” rating and issued a $202.00 price objective on shares of Generac in a research report on Tuesday, February 10th. Barclays increased their target price on Generac from $186.00 to $213.00 and gave the company an “equal weight” rating in a report on Thursday, February 12th. Citigroup cut Generac from a “buy” rating to a “neutral” rating and raised their price target for the company from $207.00 to $237.00 in a research note on Thursday, March 12th. Jefferies Financial Group began coverage on Generac in a research report on Friday, March 20th. They set a “hold” rating and a $222.00 price objective for the company. Finally, Stifel Nicolaus set a $235.00 price objective on Generac in a report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $227.35.

Generac Trading Down 1.9%

GNRC opened at $205.30 on Thursday. The business has a fifty day moving average price of $199.40 and a 200 day moving average price of $175.53. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.03 and a quick ratio of 1.00. Generac has a 12 month low of $99.50 and a 12 month high of $241.09. The stock has a market capitalization of $12.05 billion, a price-to-earnings ratio of 76.60, a PEG ratio of 1.52 and a beta of 1.74.

Generac (NYSE:GNRC) last announced its quarterly earnings data on Wednesday, February 11th. The technology company reported $1.61 EPS 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 analyst estimates of $1.16 billion. Generac had a return on equity of 14.55% and a net margin of 3.79%.The business’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.80 earnings per share. Sell-side analysts expect that Generac will post 8 earnings per share for the current fiscal year.

Insider Transactions at Generac

In other Generac news, CFO York A. Ragen sold 24,362 shares of Generac stock in a transaction that occurred 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 of the company’s stock, 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 filing with the SEC, which is available at this hyperlink. 2.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GNRC. DAVENPORT & Co LLC increased its holdings in shares of Generac by 4.4% in the fourth quarter. DAVENPORT & Co LLC now owns 387,082 shares of the technology company’s stock valued at $53,190,000 after purchasing an additional 16,229 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Generac in the 3rd quarter valued at about $70,744,000. Strs Ohio lifted its stake in shares of Generac by 583.4% in the third quarter. Strs Ohio now owns 58,096 shares of the technology company’s stock valued at $9,725,000 after purchasing an additional 49,595 shares during the period. Envestnet Asset Management Inc. grew its position in Generac by 2.6% during the third quarter. Envestnet Asset Management Inc. now owns 597,559 shares of the technology company’s stock worth $100,031,000 after buying an additional 15,280 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of Generac by 2.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 361,189 shares of the technology company’s stock valued at $51,728,000 after acquiring an additional 10,325 shares during the period. 84.04% of the stock is currently owned by institutional investors and hedge funds.

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.