Graco (NYSE:GGG) Price Target Cut to $85.00 by Analysts at BNP Paribas Exane

Graco (NYSE:GGG) had its price target dropped by equities researchers at BNP Paribas Exane from $95.00 to $85.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. BNP Paribas Exane‘s price target would indicate a potential upside of 26.71% from the company’s previous close.

GGG has been the subject of several other reports. DA Davidson reissued a “neutral” rating and set a $85.00 price target on shares of Graco in a report on Monday, July 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $82.00 price objective (down from $95.00) on shares of Graco in a report on Friday. Weiss Ratings upgraded shares of Graco from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 4th. Robert W. Baird set a $80.00 target price on shares of Graco in a research note on Friday. Finally, Wolfe Research downgraded Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.40.

Graco Stock Performance

Shares of NYSE GGG traded down $2.20 during midday trading on Friday, reaching $67.08. 1,762,515 shares of the company traded hands, compared to its average volume of 1,439,613. The firm has a market cap of $10.86 billion, a PE ratio of 21.10, a PEG ratio of 2.54 and a beta of 0.89. The stock’s 50-day simple moving average is $78.52 and its 200-day simple moving average is $78.41. Graco has a 12 month low of $66.55 and a 12 month high of $95.69.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, October 21st. The industrial products company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.02). Graco had a net margin of 22.40% and a return on equity of 19.81%. The firm had revenue of $586.39 million during the quarter, compared to analyst estimates of $590.17 million. During the same quarter in the prior year, the firm posted $0.73 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities research analysts expect that Graco will post 3.22 EPS for the current year.

Hedge Funds Weigh In On Graco

A number of institutional investors have recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC acquired a new position in shares of Graco during the first quarter worth approximately $26,000. Whipplewood Advisors LLC increased its position in Graco by 2,650.0% in the first 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 holdings in Graco by 78.6% during 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 last quarter. Elevation Wealth Partners LLC lifted its position in Graco by 2,540.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 528 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 508 shares during the period. Finally, Root Financial Partners LLC lifted its position in Graco by 43.2% during the 1st quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company’s stock valued at $43,000 after purchasing an additional 152 shares during the period. 93.88% of the stock is owned by institutional investors.

Graco News Roundup

Here are the key news stories impacting Graco this week:

• Positive Sentiment: Graco reported record third-quarter sales of $586.4 million, up 7.9% year over year, while organic incoming orders increased 7%. The growth suggests underlying demand remains healthy. Graco: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Graco’s ETM subsidiary signed a technology licensing agreement with ABB for data-center cooling towers and heat-rejection systems, providing potential exposure to expanding data-center infrastructure spending. Graco Announces Technology Partnership with ABB
• Neutral Sentiment: Technical indicators show GGG is oversold after the recent selloff, and analysts have broadly raised earnings estimates. That could support a short-term rebound, although it does not resolve the company’s weaker near-term guidance. Graco Buy the Dip Analysis
• Negative Sentiment: Third-quarter adjusted EPS of $0.81 and revenue of $586.4 million fell short of Wall Street expectations. Operating earnings declined 10% year over year to $148.1 million, indicating margin compression despite sales growth. Graco Stock Falls on Q3 Earnings
• Negative Sentiment: Fourth-quarter revenue guidance of $610 million to $640 million is below the $641.8 million consensus estimate. The outlook reinforces investor concerns that demand or pricing may not fully offset cost pressures, keeping the stock’s near-term risk skewed lower. Graco Stock Drops as Q3 Results Spotlight Margin Compression

About Graco

Graco Inc is a global manufacturer of equipment used to move, measure, control, dispense and apply fluids and other materials. Its products are used in industrial, commercial and residential applications involving paints, coatings, sealants, adhesives, lubricants, chemicals and other fluids.

The company’s product portfolio includes pumps, valves, meters, regulators, fluid-management systems, lubrication equipment, spray-applied coating and finishing systems, sealant and adhesive equipment, and contractor-oriented painting and texture application tools.