Graco (NYSE:GGG) has been assigned a $46.00 price target by Royal Bank of Canada in a report released on Friday, TipRanks reports. The brokerage currently has a “hold” rating on the industrial products company’s stock. Royal Bank of Canada’s price target indicates a potential downside of 1.12% from the company’s previous close.
Other research analysts have also recently issued research reports about the company. ValuEngine cut Graco from a “sell” rating to a “strong sell” rating in a research report on Wednesday, September 4th. Robert W. Baird set a $50.00 target price on Graco and gave the company a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. The company currently has an average rating of “Hold” and an average target price of $47.20.
Shares of NYSE:GGG traded up $0.74 during mid-day trading on Friday, hitting $46.52. 659,450 shares of the company traded hands, compared to its average volume of 528,642. The stock has a market cap of $7.69 billion, a P/E ratio of 24.74, a P/E/G ratio of 2.14 and a beta of 0.97. The company has a current ratio of 2.69, a quick ratio of 1.39 and a debt-to-equity ratio of 0.20. Graco has a 12-month low of $38.59 and a 12-month high of $53.91. The stock has a 50-day moving average price of $45.75 and a two-hundred day moving average price of $48.34.
Graco (NYSE:GGG) last announced its earnings results on Wednesday, October 23rd. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.06). The company had revenue of $400.60 million for the quarter, compared to analysts’ expectations of $418.93 million. Graco had a net margin of 20.29% and a return on equity of 36.17%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. As a group, analysts expect that Graco will post 1.83 earnings per share for the current year.
In related news, Director William J. Carroll sold 6,000 shares of Graco stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $46.53, for a total transaction of $279,180.00. Following the sale, the director now directly owns 49,984 shares in the company, valued at $2,325,755.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.23% of the company’s stock.
A number of institutional investors have recently modified their holdings of GGG. FMR LLC lifted its holdings in Graco by 2,476.2% during the first quarter. FMR LLC now owns 126,183 shares of the industrial products company’s stock worth $6,249,000 after acquiring an additional 121,285 shares during the period. WINTON GROUP Ltd lifted its holdings in Graco by 100.2% during the second quarter. WINTON GROUP Ltd now owns 15,812 shares of the industrial products company’s stock worth $793,000 after acquiring an additional 7,913 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Graco by 0.9% during the second quarter. Nisa Investment Advisors LLC now owns 128,760 shares of the industrial products company’s stock worth $6,461,000 after acquiring an additional 1,200 shares during the period. Raymond James Trust N.A. lifted its holdings in Graco by 18.2% during the second quarter. Raymond James Trust N.A. now owns 5,880 shares of the industrial products company’s stock worth $295,000 after acquiring an additional 907 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Graco by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 67,422 shares of the industrial products company’s stock worth $3,383,000 after acquiring an additional 945 shares during the period. Institutional investors and hedge funds own 84.06% of the company’s stock.
Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.
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