Generac (NYSE:GNRC) Trading Down 10.3% After Insider Selling

Generac Holdings Inc. (NYSE:GNRC)’s share price traded down 10.3% on Tuesday after an insider sold shares in the company. The stock traded as low as $230.00 and last traded at $231.2730. Approximately 511,870 shares were traded during trading, a decline of 50% from the average session volume of 1,022,328 shares. The stock had previously closed at $257.81.

Specifically, insider Norman P. Taffe sold 550 shares of the company’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $256.00, for a total value of $140,800.00. Following the sale, the insider directly owned 15,808 shares in the company, valued at $4,046,848. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GNRC. UBS Group boosted their target price on shares of Generac from $305.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Argus boosted their price target on shares of Generac from $255.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Generac in a report on Wednesday, June 3rd. Wells Fargo & Company boosted their target price on Generac from $238.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Canaccord Genuity Group raised their price target on Generac from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, April 30th. One investment 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, Generac currently has a consensus rating of “Moderate Buy” and an average price target of $284.18.

Generac Stock Up 0.5%

The company has a debt-to-equity ratio of 0.47, a current ratio of 2.03 and a quick ratio of 0.99. The firm has a market cap of $13.95 billion, a price-to-earnings ratio of 74.26, a price-to-earnings-growth ratio of 2.21 and a beta of 1.89. The firm has a 50 day moving average price of $266.50 and a 200-day moving average price of $216.51.

Generac (NYSE:GNRC) last posted its quarterly earnings results on Wednesday, April 29th. The technology company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.47. The business had revenue of $1.06 billion for 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 quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.26 earnings per share. As a group, equities analysts predict that Generac Holdings Inc. will post 8.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Generac during the third quarter worth approximately $26,000. Avalon Trust Co bought a new position in Generac in the first quarter valued at approximately $32,000. Essential Partners LLC grew its holdings in Generac by 57.0% during the 1st quarter. Essential Partners LLC now owns 168 shares of the technology company’s stock worth $33,000 after acquiring an additional 61 shares during the period. MUFG Securities EMEA plc acquired a new stake in Generac during the 2nd quarter worth $25,000. Finally, GHP Investment Advisors Inc. bought a new stake in shares of Generac during the 1st quarter valued at $36,000. Institutional investors own 84.04% of the company’s stock.

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.