Why Generac Lost Power on Tuesday
The weight of last week's big gains continues to work against shares of power storage and generator company Generac Holdings (NYSE: GNRC). The stock is down another 7.3% as of 12:25 p.m. ET Tuesday following downgrades and lowered price targets from another handful of Wall Street firms.
By most measures, the company dished out solid fourth-quarter numbers last Wednesday. While sales were down 2% year over year, operating earnings of $1.78 per share were better than analysts were expecting. The company believes revenue will continue declining through 2023, but adds that "operating and free cash flow generation is expected to return to strong levels for the full year." It was enough to push the stock firmly higher early last week.
Now that gain is prompting second thoughts from the analyst community.
Source Fool.com
