Graco (NYSE:GGG) Given Neutral Rating at DA Davidson

Graco (NYSE:GGG)‘s stock had its “neutral” rating reaffirmed by analysts at DA Davidson in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $85.00 price target on the industrial products company’s stock. DA Davidson’s target price would suggest a potential upside of 6.82% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. Robert W. Baird set a $94.00 target price on Graco in a research report on Friday. Wolfe Research downgraded shares of Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Royal Bank Of Canada upped their price objective on Graco from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Weiss Ratings downgraded shares of Graco from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, July 21st. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $95.00.

Graco Stock Performance

GGG traded up $0.07 during midday trading on Monday, hitting $79.57. The stock had a trading volume of 79,070 shares, compared to its average volume of 1,224,669. The company has a market cap of $12.89 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 2.56 and a beta of 0.93. The business has a fifty day moving average of $75.07 and a 200 day moving average of $82.65. Graco has a 1 year low of $72.51 and a 1 year high of $95.69.

Graco (NYSE:GGG) last released its earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.10. The firm had revenue of $590.55 million during the quarter, compared to analyst estimates of $608.06 million. Graco had a net margin of 23.53% and a return on equity of 19.54%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.75 earnings per share. On average, equities research analysts anticipate that Graco will post 3.1 earnings per share for the current year.

Institutional Investors Weigh In On Graco

Hedge funds have recently made changes to their positions in the business. Fulton Bank N.A. lifted its position in shares of Graco by 5.0% during the second quarter. Fulton Bank N.A. now owns 5,270 shares of the industrial products company’s stock worth $398,000 after purchasing an additional 249 shares in the last quarter. Focus Financial Network Inc. increased its position in shares of Graco by 5.2% in the second quarter. Focus Financial Network Inc. now owns 24,204 shares of the industrial products company’s stock worth $1,830,000 after acquiring an additional 1,200 shares in the last quarter. Elevation Wealth Partners LLC increased its stake in shares of Graco by 2,540.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 528 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 508 shares during the last quarter. Martin Capital Partners LLC bought a new position in shares of Graco in the 2nd quarter valued at approximately $320,000. Finally, Ballast Advisors LLC acquired a new position in Graco during the 1st quarter worth $74,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Company Profile

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.