Graco (NYSE:GGG) Earns Neutral Rating from DA Davidson

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

GGG has been the topic of a number of other research reports. Robert W. Baird lowered their price objective on Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Royal Bank of Canada decreased their price target on Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, StockNews.com cut Graco from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $86.80.

Graco Trading Up 1.0 %

NYSE:GGG opened at $87.64 on Friday. Graco has a 12-month low of $69.78 and a 12-month high of $94.77. The stock’s 50 day simple moving average is $82.35 and its 200-day simple moving average is $83.71. The firm has a market cap of $14.82 billion, a P/E ratio of 30.22, a PEG ratio of 2.88 and a beta of 0.81.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.01. Graco had a net margin of 23.16% and a return on equity of 22.40%. The company had revenue of $553.20 million for the quarter, compared to analysts’ expectations of $562.27 million. During the same period in the previous year, the company posted $0.75 EPS. Graco’s revenue was down 1.1% compared to the same quarter last year. Research analysts forecast that Graco will post 2.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC increased its holdings in Graco by 5.5% during the 2nd quarter. V Square Quantitative Management LLC now owns 2,309 shares of the industrial products company’s stock valued at $183,000 after acquiring an additional 120 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Graco by 7.1% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,031 shares of the industrial products company’s stock worth $161,000 after purchasing an additional 134 shares in the last quarter. iA Global Asset Management Inc. increased its stake in shares of Graco by 8.8% during the 2nd quarter. iA Global Asset Management Inc. now owns 1,687 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 136 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of Graco by 1.9% during the 1st quarter. Park Avenue Securities LLC now owns 7,490 shares of the industrial products company’s stock worth $700,000 after purchasing an additional 139 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Graco by 6.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,397 shares of the industrial products company’s stock valued at $190,000 after buying an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Company Profile

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.