NEW YORK (TheStreet) -- Shares of Generac Holdings Inc. (GNRC) are down by 12.87% to $37.92 in pre-market trading on Thursday, after the company reported a decline in its 2014 third quarter net income to $36.5 million, or 52 cents per share, compared to $47.1 million, or 67 cents per share for the year ago period.
For the most recent third quarter the generator and engine powered products maker said adjusted net income was $57.9 million, or 83 cents per share, compared to $73.7 million, or $1.06 per share for the 2013 third quarter.
Analysts polled by Thomson Reuters had expected Generac to post earnings of $1.03 per share for the quarter.
The company's revenue fell to $352.3 million for the latest quarter, from $363.3 million for the prior year's third quarter.
Analysts were expecting $408.23 million in revenue for the 2014 third quarter.
Separately, TheStreet Ratings team rates GENERAC HOLDINGS INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAC HOLDINGS INC (GNRC) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."
You can view the full analysis from the report here: GNRC Ratings Report