Graco (NYSE:GGG) Stock Price Target Cut by Royal Bank Of Canada

by · The Markets Daily

Graco (NYSE:GGG – Get Free Report) had its price objective dropped by Royal Bank Of Canada from $96.00 to $95.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 18.81% from the stock’s previous close.

Several other equities analysts have also issued reports on GGG. Wolfe Research lowered Graco from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of Graco from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Robert W. Baird set a $94.00 price objective on Graco in a research report on Friday, July 24th. Finally, DA Davidson reissued a “neutral” rating and set a $85.00 price target on shares of Graco in a research note on Monday, July 27th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $94.75.

Get Our Latest Research Report on GGG

Graco Stock Up 0.2%

NYSE GGG opened at $79.96 on Wednesday. Graco has a 12-month low of $72.51 and a 12-month high of $95.69. The firm has a 50-day moving average price of $78.99 and a two-hundred day moving average price of $78.65. The company has a market capitalization of $12.95 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.44 and a beta of 0.89.

Graco (NYSE:GGG – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.10. The firm had revenue of $590.55 million for the quarter, compared to analyst estimates of $608.06 million. Graco had a return on equity of 19.54% and a net margin of 23.53%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS. Equities analysts expect that Graco will post 3.22 EPS for the current year.

Hedge Funds Weigh In On Graco

A number of institutional investors and hedge funds have recently made changes to their positions in GGG. Krilogy Financial LLC acquired a new position in shares of Graco during the third quarter worth approximately $612,000. NorthCrest Asset Manangement LLC bought a new position in Graco in the 3rd quarter valued at about $498,000. GAMMA Investing LLC boosted its stake in Graco by 24.2% during the 3rd quarter. GAMMA Investing LLC now owns 5,219 shares of the industrial products company’s stock valued at $401,000 after purchasing an additional 1,016 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Graco by 30.1% in the third quarter. Farther Finance Advisors LLC now owns 6,043 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 1,398 shares in the last quarter. Finally, North Point Portfolio Managers Corp OH purchased a new position in shares of Graco during the third quarter valued at approximately $186,000. Institutional investors own 93.88% of the company’s stock.

Graco Company Profile

(Get Free Report)

Graco Inc is a Minneapolis-based manufacturer of equipment used to manage, measure, control and apply fluids and coatings. Its products are used in industrial, commercial and residential applications, including fluid handling, lubrication, dispensing, sealing, bonding, painting and corrosion protection.

The company’s product portfolio includes pumps, valves, meters, regulators, controls, proportioning systems and spray equipment. Graco also supplies equipment for paint and texture application, protective coatings, sealants and adhesives, vehicle servicing, and the automated lubrication of machinery.

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