W.W. Grainger Inc. (GWW) Price Target Cut to $216.00
W.W. Grainger Inc. (NYSE:GWW) had its price target lowered by investment analysts at Stifel Nicolaus from $235.00 to $216.00 in a research note issued on Wednesday. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 4.93% from the company’s current price.
GWW has been the topic of a number of other research reports. Zacks Investment Research downgraded W.W. Grainger from a “hold” rating to a “sell” rating in a research report on Tuesday, September 13th. BMO Capital Markets reduced their price target on W.W. Grainger from $300.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, July 20th. Macquarie began coverage on W.W. Grainger in a research report on Thursday, August 25th. They set an “outperform” rating and a $274.00 price target on the stock. Royal Bank Of Canada reduced their price target on W.W. Grainger from $197.00 to $187.00 and set an “underperform” rating on the stock in a research report on Wednesday, July 20th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of W.W. Grainger in a research report on Sunday, September 4th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $225.50.
Shares of W.W. Grainger (NYSE:GWW) opened at 205.86 on Wednesday. The company has a market cap of $12.44 billion, a P/E ratio of 18.72 and a beta of 0.81. W.W. Grainger has a 52-week low of $176.85 and a 52-week high of $239.95. The stock’s 50 day moving average price is $222.13 and its 200-day moving average price is $225.65.
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W.W. Grainger (NYSE:GWW) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.99 by $0.07. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.59 billion. W.W. Grainger had a return on equity of 31.26% and a net margin of 6.91%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.03 earnings per share. Equities analysts expect that W.W. Grainger will post $11.54 EPS for the current year.
In related news, VP Joseph C. High sold 1,722 shares of the stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $220.00, for a total transaction of $378,840.00. Following the sale, the vice president now directly owns 7,531 shares of the company’s stock, valued at $1,656,820. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.60% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of W.W. Grainger by 31.8% in the second quarter. Van ECK Associates Corp now owns 601 shares of the company’s stock worth $137,000 after buying an additional 145 shares during the period. CENTRAL TRUST Co increased its stake in shares of W.W. Grainger by 5.1% in the second quarter. CENTRAL TRUST Co now owns 832 shares of the company’s stock worth $189,000 after buying an additional 40 shares during the period. Evercore Wealth Management LLC increased its stake in shares of W.W. Grainger by 4.4% in the second quarter. Evercore Wealth Management LLC now owns 861 shares of the company’s stock worth $195,000 after buying an additional 36 shares during the period. Ingalls & Snyder LLC purchased a new stake in shares of W.W. Grainger during the second quarter worth about $200,000. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in shares of W.W. Grainger during the second quarter worth about $205,000. 82.56% of the stock is currently owned by hedge funds and other institutional investors.
W.W. Grainger Company Profile
W.W. Grainger, Inc (Grainger) is a distributor of maintenance, repair and operating (MRO) supplies and other related products and services. The Company offers its products and services to businesses and institutions in the United States and Canada, with presence also in Europe, Asia and Latin America.
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