Graco Inc. (NYSE:GGG – Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $75.57 and last traded at $76.25, with a volume of 8020 shares changing hands. The stock had previously closed at $75.72.
Analyst Upgrades and Downgrades
GGG has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their target price on shares of Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, January 28th. KeyCorp reissued a “sector weight” rating on shares of Graco in a research report on Tuesday, January 27th. DA Davidson reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Graco in a research report on Monday, April 27th. Robert W. Baird cut their price objective on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Finally, Weiss Ratings downgraded Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Graco has an average rating of “Hold” and an average price target of $94.25.
Read Our Latest Stock Analysis on Graco
Graco Trading Up 0.8%
Graco (NYSE:GGG – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a net margin of 22.96% and a return on equity of 18.66%. The company had revenue of $540.14 million for the quarter, compared to the consensus estimate of $561.35 million. During the same quarter last year, the business posted $0.70 earnings per share. Graco’s revenue was up 2.2% on a year-over-year basis. Analysts forecast that Graco Inc. will post 3.12 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Andrea Helen Simon acquired 1,240 shares of Graco stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average price of $80.53 per share, with a total value of $99,857.20. Following the completion of the purchase, the director owned 1,240 shares in the company, valued at approximately $99,857.20. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 2.18% of the stock is currently owned by corporate insiders.
Institutional Trading of Graco
A number of hedge funds have recently bought and sold shares of GGG. AE Wealth Management LLC lifted its position in Graco by 32.7% in the fourth quarter. AE Wealth Management LLC now owns 398,336 shares of the industrial products company’s stock valued at $32,652,000 after purchasing an additional 98,141 shares during the last quarter. Swiss Life Asset Management Ltd increased its stake in shares of Graco by 40.5% during the third quarter. Swiss Life Asset Management Ltd now owns 45,544 shares of the industrial products company’s stock valued at $3,869,000 after buying an additional 13,130 shares during the period. Raiffeisen Bank International AG grew its stake in Graco by 191.8% in the third quarter. Raiffeisen Bank International AG now owns 8,809 shares of the industrial products company’s stock worth $744,000 after purchasing an additional 5,790 shares during the period. CWA Asset Management Group LLC purchased a new stake in Graco in the fourth quarter worth $3,527,000. Finally, Principal Financial Group Inc. grew its stake in Graco by 3.2% in the third quarter. Principal Financial Group Inc. now owns 2,458,857 shares of the industrial products company’s stock worth $208,908,000 after purchasing an additional 75,285 shares during the period. Institutional investors 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.
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