Graco (NYSE:GGG) PT Lowered to $86.00

Graco (NYSE:GGG) had its price objective cut by investment analysts at Robert W. Baird from $87.00 to $86.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price objective would indicate a potential upside of 2.64% from the stock’s previous close.

Other research analysts have also issued reports about the company. StockNews.com lowered Graco from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $103.00 target price on shares of Graco in a report on Thursday, June 27th. Finally, William Blair restated a “market perform” rating on shares of Graco in a research report on Friday, April 26th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.50.

Graco Price Performance

Shares of GGG opened at $83.79 on Friday. The stock has a market capitalization of $14.17 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 2.68 and a beta of 0.82. The business’s fifty day moving average price is $80.37 and its 200 day moving average price is $85.40. Graco has a 12-month low of $69.78 and a 12-month high of $94.77.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $553.20 million for the quarter, compared to analysts’ expectations of $562.27 million. Graco had a return on equity of 22.82% and a net margin of 23.16%. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. As a group, research analysts anticipate that Graco will post 3.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its stake in Graco by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 1,732,600 shares of the industrial products company’s stock valued at $137,361,000 after purchasing an additional 91,794 shares in the last quarter. Optas LLC increased its holdings in Graco by 8.1% in the second quarter. Optas LLC now owns 3,245 shares of the industrial products company’s stock worth $257,000 after buying an additional 242 shares during the last quarter. Institute for Wealth Management LLC. acquired a new stake in Graco in the second quarter valued at approximately $220,000. First Merchants Corp grew its position in Graco by 8.1% in the second quarter. First Merchants Corp now owns 85,129 shares of the industrial products company’s stock worth $6,749,000 after acquiring an additional 6,370 shares in the last quarter. Finally, &PARTNERS bought a new position in shares of Graco during the 2nd quarter valued at $673,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Company Profile

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.