DA Davidson Reaffirms Neutral Rating for Graco (NYSE:GGG)

Graco (NYSE:GGG)‘s stock had its “neutral” rating reaffirmed by stock analysts at DA Davidson in a report released on Monday,Benzinga reports. They presently have a $85.00 target price on the industrial products company’s stock. DA Davidson’s price target suggests a potential downside of 4.19% from the company’s current price.

Several other brokerages have also recently issued reports on GGG. KeyCorp reiterated a “sector weight” rating on shares of Graco in a research report on Tuesday, January 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Graco in a research note on Thursday, January 22nd. Royal Bank Of Canada lifted their target price on Graco from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, January 28th. Jefferies Financial Group upped their price target on shares of Graco from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Finally, Robert W. Baird set a $96.00 price objective on shares of Graco in a research report on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $96.50.

Graco Trading Up 0.3%

Graco stock opened at $88.72 on Monday. Graco has a 52 week low of $72.06 and a 52 week high of $89.70. The stock has a market cap of $14.71 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 2.78 and a beta of 1.08. The company’s 50-day moving average price is $84.50 and its two-hundred day moving average price is $83.95.

Graco (NYSE:GGG) last posted its quarterly earnings data on Monday, January 26th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. Graco had a net margin of 23.33% and a return on equity of 19.49%. The business had revenue of $593.16 million during the quarter, compared to analysts’ expectations of $591.99 million. During the same period last year, the firm posted $0.64 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. Research analysts expect that Graco will post 3.06 earnings per share for the current fiscal year.

Graco announced that its board has approved a share repurchase plan on Friday, December 5th that permits the company to buyback 15,000,000 shares. This buyback authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Root Financial Partners LLC purchased a new stake in shares of Graco in the 3rd quarter valued at approximately $29,000. NewSquare Capital LLC raised its stake in Graco by 320.7% during the 2nd quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 263 shares during the period. CX Institutional lifted its holdings in shares of Graco by 316.7% in the third quarter. CX Institutional now owns 475 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 361 shares in the last quarter. Assetmark Inc. boosted its position in shares of Graco by 42.6% in the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after buying an additional 139 shares during the period. Finally, Field & Main Bank purchased a new position in shares of Graco during the fourth quarter valued at $41,000. 93.88% of the stock is owned by hedge funds and other institutional investors.

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.