Graco (NYSE:GGG) Cut to Hold at StockNews.com

Graco (NYSE:GGG) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other analysts have also recently issued reports on GGG. William Blair reissued a “market perform” rating on shares of Graco in a research note on Friday. Jefferies Financial Group raised their price target on shares of Graco from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Royal Bank of Canada raised their price target on shares of Graco from $91.00 to $93.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, Robert W. Baird decreased their price target on shares of Graco from $90.00 to $87.00 and set a “neutral” rating for the company in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $88.25.

Graco Stock Performance

NYSE GGG opened at $82.56 on Friday. The business has a 50 day simple moving average of $91.03 and a 200 day simple moving average of $84.96. Graco has a 52-week low of $69.78 and a 52-week high of $94.77. The stock has a market cap of $13.96 billion, a price-to-earnings ratio of 28.47, a PEG ratio of 2.65 and a beta of 0.81.

Graco (NYSE:GGG) last posted its earnings results on Wednesday, April 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). Graco had a return on equity of 23.01% and a net margin of 23.15%. The business had revenue of $492.19 million for the quarter, compared to the consensus estimate of $536.19 million. During the same period in the previous year, the company posted $0.74 earnings per share. Graco’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, analysts predict that Graco will post 3.14 EPS for the current year.

Insider Activity

In other news, insider Christian E. Rothe sold 15,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $90.04, for a total value of $1,350,600.00. Following the completion of the sale, the insider now owns 25,583 shares of the company’s stock, valued at approximately $2,303,493.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Timothy R. White sold 2,895 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $87.49, for a total value of $253,283.55. Following the completion of the sale, the insider now owns 50,782 shares of the company’s stock, valued at approximately $4,442,917.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christian E. Rothe sold 15,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $90.04, for a total value of $1,350,600.00. Following the completion of the sale, the insider now directly owns 25,583 shares of the company’s stock, valued at approximately $2,303,493.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,378 shares of company stock valued at $4,376,528. 2.63% of the stock is owned by insiders.

Institutional Investors Weigh In On Graco

Several large investors have recently made changes to their positions in the stock. Park Avenue Securities LLC lifted its holdings in Graco by 1.9% during the 1st quarter. Park Avenue Securities LLC now owns 7,490 shares of the industrial products company’s stock valued at $700,000 after purchasing an additional 139 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in Graco by 5.5% during the 3rd quarter. Meeder Advisory Services Inc. now owns 3,004 shares of the industrial products company’s stock valued at $219,000 after purchasing an additional 157 shares during the last quarter. Taylor Frigon Capital Management LLC lifted its holdings in Graco by 0.9% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 18,734 shares of the industrial products company’s stock valued at $1,365,000 after purchasing an additional 163 shares during the last quarter. Spire Wealth Management lifted its holdings in Graco by 0.3% during the 1st quarter. Spire Wealth Management now owns 66,975 shares of the industrial products company’s stock valued at $6,260,000 after purchasing an additional 176 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its holdings in Graco by 24.3% during the 4th quarter. Lindbrook Capital LLC now owns 931 shares of the industrial products company’s stock valued at $81,000 after purchasing an additional 182 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.