Graco (NYSE:GGG) Hits New 52-Week Low – Should You Sell?

Shares of Graco Inc. (NYSE:GGG) reached a new 52-week low on Wednesday . The stock traded as low as $73.26 and last traded at $73.4630, with a volume of 764733 shares trading hands. The stock had previously closed at $75.86.

Wall Street Analyst Weigh In

GGG has been the subject of several research analyst reports. Weiss Ratings downgraded Graco from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. DA Davidson reissued a “neutral” rating and issued a $85.00 price objective on shares of Graco in a report on Monday, April 27th. Royal Bank Of Canada reissued an “outperform” rating and issued a $95.00 price objective on shares of Graco in a report on Friday, April 24th. Finally, Robert W. Baird decreased their price target on Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $94.25.

Graco Stock Down 3.2%

The company has a fifty day moving average of $80.19 and a two-hundred day moving average of $84.45. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 23.93, a P/E/G ratio of 2.39 and a beta of 0.93.

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

Insider Buying and Selling

In other Graco news, Director Andrea Helen Simon bought 1,240 shares of Graco stock in a transaction on Monday, April 27th. The stock was bought at an average price of $80.53 per share, with a total value of $99,857.20. Following the completion of the acquisition, the director owned 1,240 shares in the company, valued at $99,857.20. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.18% of the company’s stock.

Institutional Investors Weigh In On Graco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC lifted its holdings in Graco by 34.8% in the first quarter. Parallel Advisors LLC now owns 8,217 shares of the industrial products company’s stock valued at $696,000 after acquiring an additional 2,122 shares during the period. Essential Partners LLC increased its position in shares of Graco by 78.6% in the first quarter. Essential Partners LLC now owns 359 shares of the industrial products company’s stock valued at $30,000 after buying an additional 158 shares in the last quarter. Edgestream Partners L.P. purchased a new position in shares of Graco in the first quarter valued at $2,775,000. Oddo BHF Asset Management Sas increased its position in shares of Graco by 5.6% in the first quarter. Oddo BHF Asset Management Sas now owns 52,272 shares of the industrial products company’s stock valued at $4,425,000 after buying an additional 2,788 shares in the last quarter. Finally, South Dakota Investment Council increased its position in shares of Graco by 158.3% in the first quarter. South Dakota Investment Council now owns 18,440 shares of the industrial products company’s stock valued at $1,561,000 after buying an additional 11,300 shares in the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

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.