Graco (NYSE:GGG) Given "Neutral" Rating at DA Davidson

Key Points

• DA Davidson reiterated a neutral rating on Graco with an $85 price target, implying about a 5.1% upside from the current share price.
• Graco's latest quarter missed expectations, reporting EPS of $0.66 versus $0.75 expected and revenue of $540.14M versus $561.35M expected.
• Overall analyst sentiment is a Moderate Buy, with four Buy and three Hold ratings and an average price target of $94.25.

Graco (NYSE:GGG - Get Free Report)'s stock had its "neutral" rating restated by investment analysts at DA Davidson in a research note issued on Monday,Benzinga reports. They currently have a $85.00 price objective on the industrial products company's stock. DA Davidson's target price points to a potential upside of 5.12% from the company's current price.

Several other research analysts have also recently weighed in on GGG. Royal Bank Of Canada reissued an "outperform" rating and set a $95.00 price target on shares of Graco in a research report on Friday. Weiss Ratings upgraded shares of Graco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, February 5th. KeyCorp reiterated a "sector weight" rating on shares of Graco in a research note on Tuesday, January 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 note on Friday. Finally, Jefferies Financial Group increased their price target on shares of Graco from $100.00 to $105.00 and gave the company a "buy" rating in a research note on Wednesday, January 28th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Graco currently has a consensus rating of "Moderate Buy" and an average price target of $94.25.

Graco Price Performance

NYSE GGG traded down $0.72 on Monday, hitting $80.86. The company had a trading volume of 484,668 shares, compared to its average volume of 1,050,235. The company has a market capitalization of $13.42 billion, a PE ratio of 26.33, a PEG ratio of 2.59 and a beta of 1.09. The company's fifty day moving average price is $87.92 and its 200-day moving average price is $85.48. Graco has a 12-month low of $78.87 and a 12-month high of $95.69.

Graco (NYSE:GGG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.09). The company had revenue of $540.14 million during the quarter, compared to analysts' expectations of $561.35 million. Graco had a return on equity of 18.66% and a net margin of 22.96%.Graco's revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. On average, sell-side analysts anticipate that Graco will post 3.15 EPS for the current year.

Insider Buying and Selling at Graco

In related news, EVP Angela F. Wordell sold 2,832 shares of the business's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $93.22, for a total value of $263,999.04. Following the completion of the transaction, the executive vice president owned 13,360 shares of the company's stock, valued at approximately $1,245,419.20. The trade was a 17.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director J Kevin Gilligan sold 12,870 shares of the business's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $89.07, for a total transaction of $1,146,330.90. The SEC filing for this sale provides additional information. Insiders sold a total of 19,394 shares of company stock valued at $1,739,326 in the last quarter. Insiders own 2.18% of the company's stock.

Institutional Trading of Graco

A number of institutional investors have recently modified their holdings of GGG. Goldman Sachs Group Inc. boosted its holdings in Graco by 15.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company's stock worth $27,592,000 after acquiring an additional 44,573 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company's stock worth $42,000 after acquiring an additional 452 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Graco by 97.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,765 shares of the industrial products company's stock worth $152,000 after acquiring an additional 870 shares during the period. Marshall Wace LLP boosted its holdings in Graco by 559.5% in the 2nd quarter. Marshall Wace LLP now owns 108,100 shares of the industrial products company's stock worth $9,293,000 after acquiring an additional 91,708 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in Graco by 4.2% in the 2nd quarter. Federated Hermes Inc. now owns 21,289 shares of the industrial products company's stock worth $1,830,000 after acquiring an additional 852 shares during the period. Hedge funds and other institutional investors own 93.88% of the company's stock.

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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