W.W. Grainger Receives “Neutral” Rating from Zacks (GWW)
W.W. Grainger (NYSE:GWW)‘s stock had its “neutral” rating restated by Zacks in a report issued on Thursday, Stock Ratings Network.com reports. They currently have a $271.00 target price on the stock. Zacks‘ price target would indicate a potential upside of 3.47% from the stock’s previous close.
Zacks‘ analyst wrote, “Grainger’s third quarter 2013 earnings increased 5% year over year to $2.95 per share and revenues advanced 5% to $2.28 billion. Citing continuing headwinds of a softer global economy and stronger U.S. dollar, Grainger narrowed its EPS guidance to the range of $11.45-$11.65 for fiscal 2013. Grainger is expected to benefit in the long term from its incessant focus on expanding its sales force, product offerings and strengthening its businesses across all operating regions, as well as continued investment in e-commerce – its most profitable channel. However, the recent slowdown in sales and margin pressure due to Grainger’s accelerated investments remain concerns. We maintain our Neutral recommendation with a target price of $271. “
In other W.W. Grainger news, VP Court D. Carruthers sold 5,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $255.28, for a total value of $1,276,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
GWW has been the subject of a number of other recent research reports. Analysts at Robert W. Baird cut their price target on shares of W.W. Grainger from $290.00 to $280.00 in a research note to investors on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at Raymond James cut their price target on shares of W.W. Grainger from $280.00 to $268.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $255.31.
W.W. Grainger (NYSE:GWW) traded up 1.60% on Thursday, hitting $261.90. 443,405 shares of the company’s stock traded hands. W.W. Grainger has a one year low of $184.78 and a one year high of $271.32. The stock has a 50-day moving average of $257.8 and a 200-day moving average of $248.2. The company has a market cap of $18.201 billion and a price-to-earnings ratio of 25.04.
W.W. Grainger (NYSE:GWW) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $2.95 EPS for the quarter, missing the Thomson Reuters consensus estimate of $3.06 by $0.11. The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the company posted $2.81 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Analysts expect that W.W. Grainger will post $11.70 EPS for the current fiscal year.
W.W. Grainger, Inc(NYSE:GWW) is a distributor of maintenance, repair and operating (MRO) supplies and other related products and services used by businesses and institutions primarily in the United States and Canada .
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