DA Davidson Reaffirms "Neutral" Rating for Graco (NYSE:GGG)

Key Points

• DA Davidson reaffirmed its “Neutral” rating on Graco and set an $85 price target, implying approximately 6.82% upside from the prior close.
• Analyst sentiment remains cautious: Graco has an average “Hold” rating and a consensus price target of $95, with two Buy ratings and five Holds.
• Graco reported quarterly EPS of $0.91, beating estimates of $0.81, while revenue of $590.55 million fell short of expectations but increased 3.3% year over year.

Graco (NYSE:GGG - Get Free Report)'s stock had its "neutral" rating reissued by investment analysts at DA Davidson in a research report issued on Monday,Benzinga reports. They presently have a $85.00 target price on the industrial products company's stock. DA Davidson's price target would suggest a potential upside of 6.82% from the company's previous close.

Several other analysts have also recently commented on the company. Wolfe Research cut Graco from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. Royal Bank Of Canada boosted their price target on Graco from $92.00 to $96.00 and gave the stock an "outperform" rating in a research note on Friday. Robert W. Baird set a $94.00 target price on shares of Graco in a research report on Friday. Finally, Weiss Ratings downgraded shares of Graco from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $95.00.

Graco Price Performance

Shares of Graco stock traded up $0.07 during trading on Monday, hitting $79.57. 79,070 shares of the stock were exchanged, compared to its average volume of 1,224,669. The firm's 50-day moving average price is $75.07 and its 200 day moving average price is $82.65. The stock has a market cap of $12.89 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 2.56 and a beta of 0.93. Graco has a 12-month low of $72.51 and a 12-month high of $95.69.

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, beating analysts' consensus estimates of $0.81 by $0.10. The company had revenue of $590.55 million for the quarter, compared to analyst estimates of $608.06 million. Graco had a net margin of 23.53% and a return on equity of 19.54%. Graco's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. As a group, research analysts forecast that Graco will post 3.1 earnings per share for the current year.

Institutional Investors Weigh In On Graco

A number of institutional investors have recently added to or reduced their stakes in GGG. Mercer Global Advisors Inc. ADV grew its position in Graco by 0.5% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,277 shares of the industrial products company's stock worth $1,745,000 after acquiring an additional 109 shares during the last quarter. Stonebridge Capital Advisors LLC lifted its holdings in Graco by 0.3% during the second quarter. Stonebridge Capital Advisors LLC now owns 41,431 shares of the industrial products company's stock worth $3,562,000 after acquiring an additional 119 shares in the last quarter. ICW Investment Advisors LLC increased its stake in Graco by 5.2% in the 2nd quarter. ICW Investment Advisors LLC now owns 2,723 shares of the industrial products company's stock valued at $234,000 after buying an additional 135 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Graco by 5.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,813 shares of the industrial products company's stock valued at $231,000 after acquiring an additional 139 shares during the period. Finally, Root Financial Partners LLC increased its holdings in Graco by 43.2% in the 1st quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company's stock valued at $43,000 after buying an additional 152 shares during the period. 93.88% of the stock is owned by institutional investors and hedge funds.

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.

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