Graco (NYSE:GGG) Price Target Cut to $86.00 by Analysts at Robert W. Baird

Graco (NYSE:GGG) had its target price dropped by stock analysts at Robert W. Baird from $87.00 to $86.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price target indicates a potential upside of 2.64% from the company’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 research report on Wednesday, June 12th. Royal Bank of Canada restated an “outperform” rating and set a $103.00 price target 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 note on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $90.50.

Graco Stock Performance

GGG stock opened at $83.79 on Friday. The company has a market capitalization of $14.17 billion, a P/E ratio of 28.89, a PEG ratio of 2.68 and a beta of 0.82. The company has a fifty day moving average price of $80.37 and a 200-day moving average price of $85.40. Graco has a 52-week low of $69.78 and a 52-week high of $94.77.

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

Institutional Trading of Graco

Institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC lifted its position in shares of Graco by 5.5% during the 2nd quarter. V Square Quantitative Management LLC now owns 2,309 shares of the industrial products company’s stock worth $183,000 after buying an additional 120 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Graco by 7.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,031 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 134 shares during the period. Park Avenue Securities LLC increased its holdings in Graco by 1.9% during the first quarter. Park Avenue Securities LLC now owns 7,490 shares of the industrial products company’s stock worth $700,000 after buying an additional 139 shares during the last quarter. GAMMA Investing LLC raised its position in Graco by 6.3% in the second quarter. GAMMA Investing LLC now owns 2,397 shares of the industrial products company’s stock worth $190,000 after acquiring an additional 141 shares during the period. Finally, Harvey Investment Co. LLC boosted its stake in Graco by 2.9% in the second quarter. Harvey Investment Co. LLC now owns 5,380 shares of the industrial products company’s stock valued at $427,000 after acquiring an additional 150 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.