Graco Inc. (NYSE:GGG) Receives $94.25 Consensus Target Price from Brokerages

Shares of Graco Inc. (NYSE:GGG) have been given an average rating of “Hold” by the seven brokerages that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $94.25.

A number of equities analysts have commented on the stock. Robert W. Baird dropped their price objective on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, April 24th. Weiss Ratings cut shares of Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Graco in a research note on Friday, April 24th. Finally, DA Davidson reissued a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research note on Monday, April 27th.

Insider Transactions at Graco

In related news, Director Andrea Helen Simon purchased 1,240 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the transaction, the director directly owned 1,240 shares in the company, valued at $99,857.20. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.18% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Graco

A number of large investors have recently made changes to their positions in GGG. Cassaday & Co Wealth Management LLC purchased a new stake in Graco in the 1st quarter worth about $26,000. Whipplewood Advisors LLC raised its position in Graco by 2,650.0% in the 1st quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 318 shares during the period. Essential Partners LLC raised its position in Graco by 78.6% in the 1st quarter. Essential Partners LLC now owns 359 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 158 shares during the period. Assetmark Inc. raised its position in Graco by 42.6% in the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 139 shares during the period. Finally, Field & Main Bank purchased a new stake in Graco in the 4th quarter worth about $41,000. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Stock Performance

Shares of NYSE GGG opened at $74.28 on Tuesday. The company has a market cap of $12.33 billion, a P/E ratio of 24.20, a P/E/G ratio of 2.40 and a beta of 0.93. The firm’s fifty day moving average is $80.56 and its two-hundred day moving average is $84.47. Graco has a 52-week low of $73.48 and a 52-week high of $95.69.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The company had revenue of $540.14 million during the quarter, compared to the consensus estimate of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.70 earnings per share. As a group, analysts forecast that Graco will post 3.1 EPS for the current fiscal year.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.