Graco (NYSE:GGG) Price Target Cut to $95.00 by Analysts at Royal Bank Of Canada

Graco (NYSE:GGG – Get Free Report) had its price target decreased by Royal Bank Of Canada from $96.00 to $95.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Royal Bank Of Canada’s price target would suggest a potential upside of 18.81% from the company’s current price.

Several other research firms have also commented on GGG. DA Davidson reaffirmed a “neutral” rating and issued a $85.00 price target on shares of Graco in a report on Monday, July 27th. Wolfe Research lowered shares of Graco from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Robert W. Baird set a $94.00 price objective on shares of Graco in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded shares of Graco from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $94.75.

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Graco Price Performance

Shares of Graco stock opened at $79.96 on Wednesday. The business has a 50-day moving average of $78.99 and a 200-day moving average of $78.65. Graco has a 1-year low of $72.51 and a 1-year high of $95.69. The company has a market capitalization of $12.95 billion, a PE ratio of 25.13, a P/E/G ratio of 2.44 and a beta of 0.89.

Graco (NYSE:GGG – Get Free Report) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $608.06 million. Graco had a net margin of 23.53% and a return on equity of 19.54%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. On average, equities analysts expect that Graco will post 3.22 earnings per share for the current fiscal year.

Institutional Trading of Graco

A number of institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new position in Graco during the second quarter valued at approximately $16,632,000. Hsbc Holdings PLC bought a new stake in shares of Graco in the 2nd quarter valued at about $100,157,000. Amundi grew its holdings in Graco by 7.5% during the second quarter. Amundi now owns 2,090,184 shares of the industrial products company’s stock worth $158,039,000 after purchasing an additional 146,032 shares during the period. Nykredit A S bought a new position in shares of Graco during the 2nd quarter worth approximately $6,051,000. Finally, Maren Capital LLC raised its stake in Graco by 30.5% in the 2nd quarter. Maren Capital LLC now owns 1,020,271 shares of the industrial products company’s stock valued at $77,143,000 after acquiring an additional 238,487 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.

About Graco

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Graco Inc is a Minneapolis-based manufacturer of equipment used to manage, measure, control and apply fluids and coatings. Its products are used in industrial, commercial and residential applications, including fluid handling, lubrication, dispensing, sealing, bonding, painting and corrosion protection.

The company’s product portfolio includes pumps, valves, meters, regulators, controls, proportioning systems and spray equipment. Graco also supplies equipment for paint and texture application, protective coatings, sealants and adhesives, vehicle servicing, and the automated lubrication of machinery.

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