Graco (NYSE:GGG) PT Lowered to $85.00

Graco (NYSE:GGG) had its price objective dropped by equities researchers at Robert W. Baird from $88.00 to $85.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 3.48% from the company’s previous close.

Several other equities research analysts have also recently commented on the company. Royal Bank of Canada dropped their price objective on Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. DA Davidson reiterated a “neutral” rating and issued a $79.00 price target on shares of Graco in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $89.25.

Graco Stock Performance

Shares of Graco stock opened at $82.14 on Friday. The company has a 50-day simple moving average of $83.93 and a two-hundred day simple moving average of $82.65. The stock has a market capitalization of $13.88 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 2.82 and a beta of 0.81. Graco has a 52-week low of $70.80 and a 52-week high of $94.77.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (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 period last year, the company posted $0.76 earnings per share. The business’s revenue was down 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that Graco will post 2.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Graco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GGG. Gradient Investments LLC purchased a new position in Graco during the second quarter valued at approximately $27,000. New Covenant Trust Company N.A. bought a new stake in shares of Graco during the 1st quarter valued at $43,000. UMB Bank n.a. lifted its stake in shares of Graco by 187.8% during the 3rd quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock valued at $43,000 after buying an additional 323 shares in the last quarter. Blue Trust Inc. boosted its holdings in Graco by 220.9% in the 2nd quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock worth $55,000 after buying an additional 475 shares during the period. Finally, Tobam increased its stake in Graco by 90.2% in the 1st quarter. Tobam now owns 601 shares of the industrial products company’s stock worth $56,000 after buying an additional 285 shares in the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

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.