Graco (NYSE:GGG) Stock Rating Reaffirmed by Royal Bank of Canada

Graco (NYSE:GGG)‘s stock had its “outperform” rating reaffirmed by Royal Bank of Canada in a research note issued on Thursday, Benzinga reports. They currently have a $103.00 target price on the industrial products company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 29.92% from the company’s previous close.

GGG has been the subject of several other research reports. StockNews.com cut shares of Graco from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Robert W. Baird dropped their price objective on shares of Graco from $90.00 to $87.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, William Blair reaffirmed a “market perform” rating on shares of Graco in a report on Friday, April 26th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $90.75.

Graco Stock Up 0.0 %

GGG stock opened at $79.28 on Thursday. Graco has a twelve month low of $69.78 and a twelve month high of $94.77. The company has a market cap of $13.41 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 2.59 and a beta of 0.82. The business’s 50-day simple moving average is $81.44 and its 200 day simple moving average is $86.01.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, April 24th. The industrial products company reported $0.65 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 quarter in the prior year, the business earned $0.74 EPS. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, equities research analysts anticipate that Graco will post 3.05 EPS for the current year.

Institutional Investors Weigh In On Graco

Several institutional investors have recently added to or reduced their stakes in GGG. Kestra Advisory Services LLC lifted its position in Graco by 107.9% in the 3rd quarter. Kestra Advisory Services LLC now owns 5,203 shares of the industrial products company’s stock valued at $379,000 after acquiring an additional 2,700 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in Graco during the 3rd quarter worth about $243,000. Envestnet Asset Management Inc. lifted its position in Graco by 60.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 207,202 shares of the industrial products company’s stock worth $15,101,000 after buying an additional 78,107 shares in the last quarter. FMR LLC lifted its position in Graco by 874.0% during the 3rd quarter. FMR LLC now owns 440,363 shares of the industrial products company’s stock worth $32,094,000 after buying an additional 395,150 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in Graco by 61.2% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 8,225 shares of the industrial products company’s stock worth $599,000 after buying an additional 3,124 shares in the last quarter. 93.88% of the stock is owned by institutional investors.

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.