Generac Holdings (NYSE:GNRC), the designer and manufacturer of energy technology solutions, left investors disappointed after releasing its Q4 results. The company posted revenues of $1.06 billion in Q4, an increase of 1% year-over-year, but fell short of Street estimates of $1.09 billion.
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Generac reported adjusted earnings of $2.07 per share in Q4 compared to earnings of $1.78 per share in the same period last year. However, this was slightly below consensus estimates of $2.09 per share.
Looking forward to FY24, the company expects net sales to increase between 3% and 7% year-over-year, with a net income margin in the range of 6.5% to 7.5%.
Is GNRC Stock a Buy?
Analysts remain cautiously optimistic about GNRC stock with a Moderate Buy consensus rating based on six Buys and five Holds. Over the past year, GNRC stock has slipped by more than 1%, and the average GNRC price target of $143.30 implies an upside potential of 24.9% at current levels.
