Graco (NYSE:GGG) Hits New 12-Month Low – Here’s Why

Shares of Graco Inc. (NYSE:GGG) reached a new 52-week low during trading on Monday . The company traded as low as $75.57 and last traded at $76.25, with a volume of 8020 shares traded. The stock had previously closed at $75.72.

Analyst Ratings Changes

GGG has been the topic of a number of recent analyst reports. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 price target on shares of Graco in a research report on Friday, April 24th. DA Davidson restated a “neutral” rating and set a $85.00 price target on shares of Graco in a research report on Monday, April 27th. Robert W. Baird dropped their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 24th. Jefferies Financial Group boosted their price target on shares of Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings downgraded shares of Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $94.25.

Graco Stock Up 0.8%

The firm’s 50 day moving average is $84.03 and its 200 day moving average is $85.16. The firm has a market capitalization of $12.67 billion, a price-to-earnings ratio of 24.89, a price-to-earnings-growth ratio of 2.43 and a beta of 0.96.

Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The firm had revenue of $540.14 million for the quarter, compared to analyst estimates of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.70 EPS. On average, sell-side analysts predict that Graco Inc. will post 3.12 earnings per share for the current year.

Insider Activity

In other Graco news, Director Andrea Helen Simon acquired 1,240 shares of Graco stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average price of $80.53 per share, with a total value of $99,857.20. Following the purchase, the director owned 1,240 shares in the company, valued at approximately $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.18% of the company’s stock.

Hedge Funds Weigh In On Graco

A number of hedge funds and other institutional investors have recently made changes to their positions in GGG. State Street Corp increased its position in shares of Graco by 3.2% during the 4th quarter. State Street Corp now owns 7,813,877 shares of the industrial products company’s stock worth $640,503,000 after purchasing an additional 242,817 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Graco by 5.9% during the 4th quarter. Geode Capital Management LLC now owns 4,652,241 shares of the industrial products company’s stock worth $380,642,000 after buying an additional 261,126 shares during the period. Morgan Stanley boosted its stake in Graco by 5.4% during the 4th quarter. Morgan Stanley now owns 4,057,036 shares of the industrial products company’s stock worth $332,556,000 after acquiring an additional 206,949 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Graco by 3.2% in the third quarter. Principal Financial Group Inc. now owns 2,458,857 shares of the industrial products company’s stock valued at $208,908,000 after buying an additional 75,285 shares in the last quarter. Finally, Amundi lifted its stake in Graco by 2.6% in the third quarter. Amundi now owns 2,076,887 shares of the industrial products company’s stock valued at $176,016,000 after buying an additional 53,126 shares in the last quarter. 93.88% of the stock is owned by institutional investors.

About Graco

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.