Graco (NYSE:GGG) PT Lowered to $93.00

Graco (NYSE:GGG) had its price objective dropped by equities research analysts at Royal Bank of Canada from $96.00 to $93.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the industrial products company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 13.22% from the stock’s current price.

Several other analysts have also recently issued reports on GGG. Robert W. Baird dropped their target price on Graco from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday. DA Davidson reaffirmed a “neutral” rating and set a $79.00 price objective on shares of Graco in a research report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $89.25.

Graco Trading Down 0.2 %

Shares of Graco stock opened at $82.14 on Friday. Graco has a 12 month low of $70.80 and a 12 month high of $94.77. The stock’s fifty day moving average price is $83.93 and its 200-day moving average price is $82.65. The firm has a market cap of $13.88 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.82 and a beta of 0.81.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). Graco had a net margin of 23.16% and a return on equity of 22.40%. The business had revenue of $519.21 million during the quarter, compared to the consensus estimate of $538.19 million. During the same quarter in the prior year, the firm posted $0.76 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. Analysts forecast that Graco will post 2.98 earnings per share for the current year.

Institutional Trading of Graco

Several hedge funds and other institutional investors have recently made changes to their positions in GGG. Park Avenue Securities LLC raised its stake in Graco by 1.9% in the first quarter. Park Avenue Securities LLC now owns 7,490 shares of the industrial products company’s stock valued at $700,000 after buying an additional 139 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Graco by 9.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 88,143 shares of the industrial products company’s stock valued at $8,238,000 after purchasing an additional 7,611 shares during the last quarter. Diversified Trust Co raised its position in shares of Graco by 80.6% in the 1st quarter. Diversified Trust Co now owns 19,321 shares of the industrial products company’s stock valued at $1,806,000 after purchasing an additional 8,625 shares during the last quarter. Claro Advisors LLC boosted its stake in Graco by 2.5% in the 1st quarter. Claro Advisors LLC now owns 9,021 shares of the industrial products company’s stock worth $843,000 after purchasing an additional 224 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Graco by 671.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,320 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 1,149 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.