Graco (NYSE:GGG) Stock Rating Reaffirmed by DA Davidson

Graco (NYSE:GGG)‘s stock had its “neutral” rating reissued by investment analysts at DA Davidson in a report released on Friday, Benzinga reports. They currently have a $79.00 target price on the industrial products company’s stock. DA Davidson’s price target would indicate a potential downside of 9.86% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. StockNews.com cut shares of Graco from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Robert W. Baird dropped their price objective on shares of Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a research report on Friday, July 26th. Finally, Royal Bank of Canada decreased their price objective on shares of Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Graco has a consensus rating of “Hold” and a consensus target price of $86.80.

Graco Stock Up 1.0 %

Graco stock opened at $87.64 on Friday. The company’s 50 day moving average is $82.35 and its two-hundred day moving average is $83.71. The firm has a market cap of $14.82 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.88 and a beta of 0.81. Graco has a 52-week low of $69.78 and a 52-week high of $94.77.

Graco (NYSE:GGG) last released its earnings results on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. Graco had a return on equity of 22.40% and a net margin of 23.16%. The firm had revenue of $553.20 million during the quarter, compared to analyst estimates of $562.27 million. During the same period last year, the business posted $0.75 earnings per share. Graco’s revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that Graco will post 2.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Graco

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Graco by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 17,229,664 shares of the industrial products company’s stock valued at $1,494,846,000 after purchasing an additional 144,146 shares during the period. PineStone Asset Management Inc. boosted its holdings in shares of Graco by 134.4% in the second quarter. PineStone Asset Management Inc. now owns 4,169,176 shares of the industrial products company’s stock valued at $330,532,000 after acquiring an additional 2,390,602 shares during the period. Bank of New York Mellon Corp grew its position in shares of Graco by 5.6% during the second quarter. Bank of New York Mellon Corp now owns 1,732,600 shares of the industrial products company’s stock worth $137,361,000 after acquiring an additional 91,794 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of Graco by 14.5% in the 1st quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company’s stock valued at $134,618,000 after acquiring an additional 182,470 shares during the period. Finally, Flossbach Von Storch AG purchased a new stake in Graco in the 1st quarter valued at $111,428,000. 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.