W W Grainger (NYSE:GWW) had its target price cut by analysts at Morgan Stanley from $273.00 to $258.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. The firm currently has an “underweight” rating on the industrial products company’s stock. Morgan Stanley’s target price points to a potential downside of 4.45% from the company’s current price.
Other equities analysts also recently issued reports about the stock. BMO Capital Markets cut their price target on shares of W W Grainger from $320.00 to $310.00 and set a “market perform” rating for the company in a report on Tuesday, April 23rd. ValuEngine raised shares of W W Grainger from a “sell” rating to a “hold” rating in a report on Thursday, June 6th. Gordon Haskett raised shares of W W Grainger from an “underperform” rating to a “hold” rating and set a $264.58 price target for the company in a report on Friday, May 17th. Stephens set a $318.00 price target on shares of W W Grainger and gave the company a “hold” rating in a report on Tuesday, April 23rd. Finally, William Blair reissued a “market perform” rating on shares of W W Grainger in a report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company. W W Grainger presently has a consensus rating of “Hold” and a consensus price target of $308.06.
Shares of NYSE:GWW traded down $9.74 during midday trading on Friday, reaching $270.02. 3,704 shares of the company’s stock were exchanged, compared to its average volume of 486,153. The company has a market capitalization of $15.25 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 1.34 and a beta of 0.96. W W Grainger has a 12 month low of $255.09 and a 12 month high of $372.06. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.36 and a current ratio of 2.40.
W W Grainger (NYSE:GWW) last released its quarterly earnings data on Monday, April 22nd. The industrial products company reported $4.51 EPS for the quarter, topping analysts’ consensus estimates of $4.42 by $0.09. W W Grainger had a net margin of 7.12% and a return on equity of 46.09%. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period last year, the firm earned $4.18 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. Sell-side analysts forecast that W W Grainger will post 17.94 EPS for the current year.
W W Grainger announced that its board has authorized a stock repurchase plan on Wednesday, April 24th that authorizes the company to repurchase 5,000,000 shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wedbush Securities Inc. grew its position in shares of W W Grainger by 4.3% during the 1st quarter. Wedbush Securities Inc. now owns 974 shares of the industrial products company’s stock worth $293,000 after buying an additional 40 shares during the period. Lincoln National Corp grew its position in shares of W W Grainger by 5.6% during the 4th quarter. Lincoln National Corp now owns 873 shares of the industrial products company’s stock worth $246,000 after buying an additional 46 shares during the period. ETF Managers Group LLC grew its position in shares of W W Grainger by 10.6% during the 1st quarter. ETF Managers Group LLC now owns 511 shares of the industrial products company’s stock worth $154,000 after buying an additional 49 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its position in shares of W W Grainger by 0.6% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,784 shares of the industrial products company’s stock worth $2,717,000 after buying an additional 53 shares during the period. Finally, Burney Co. grew its holdings in W W Grainger by 6.7% during the first quarter. Burney Co. now owns 966 shares of the industrial products company’s stock valued at $291,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 74.45% of the company’s stock.
About W W Grainger
W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) products and services in the United States, Canada, Europe, Japan, Mexico, and internationally. The company provides material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, and metalworking tools, as well as gloves, ladders, motors, and janitorial supplies.
Read More: Why does a company issue an IPO?
Receive News & Ratings for W W Grainger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W W Grainger and related companies with MarketBeat.com's FREE daily email newsletter.