Graco Inc. (NYSE:GGG) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Sunday, July 16th.

Other research analysts have also recently issued reports about the company. TheStreet upgraded Graco from a “c+” rating to a “b+” rating in a report on Thursday, April 27th. Wolfe Research began coverage on Graco in a report on Tuesday, July 11th. They issued an “underperform” rating and a $100.00 price objective on the stock. Royal Bank Of Canada reissued a “hold” rating and issued a $104.00 target price on shares of Graco in a research report on Friday, April 28th. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Wednesday, April 5th. Finally, FBR & Co reaffirmed a “marketperform” rating on shares of Graco in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Graco currently has a consensus rating of “Hold” and a consensus target price of $101.80.

Shares of Graco (NYSE:GGG) traded down 1.73% during trading on Friday, hitting $105.91. The company had a trading volume of 615,959 shares. Graco has a 52 week low of $69.33 and a 52 week high of $114.65. The firm’s 50 day moving average is $110.33 and its 200-day moving average is $99.90. The stock has a market capitalization of $5.88 billion, a P/E ratio of 98.80 and a beta of 1.24.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.32. The business had revenue of $379.50 million for the quarter, compared to analysts’ expectations of $369.36 million. Graco had a return on equity of 35.25% and a net margin of 4.53%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 EPS. Equities research analysts anticipate that Graco will post $4.14 EPS for the current fiscal year.

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In other Graco news, Director Eric Etchart sold 793 shares of the company’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $113.90, for a total value of $90,322.70. Following the completion of the transaction, the director now owns 11,224 shares in the company, valued at $1,278,413.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William J. Carroll sold 8,600 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $107.96, for a total transaction of $928,456.00. Following the sale, the director now owns 30,703 shares of the company’s stock, valued at approximately $3,314,695.88. The disclosure for this sale can be found here. Insiders sold 235,294 shares of company stock worth $15,930,767 in the last three months. 5.70% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC bought a new position in shares of Graco during the second quarter worth about $10,256,000. Parametrica Management Ltd bought a new position in shares of Graco during the second quarter worth about $371,000. Russell Investments Group Ltd. boosted its position in shares of Graco by 22.8% in the second quarter. Russell Investments Group Ltd. now owns 650,753 shares of the industrial products company’s stock worth $71,160,000 after buying an additional 120,916 shares during the period. BB&T Corp boosted its position in shares of Graco by 0.4% in the second quarter. BB&T Corp now owns 2,567 shares of the industrial products company’s stock worth $280,000 after buying an additional 11 shares during the period. Finally, Whittier Trust Co. boosted its position in shares of Graco by 2.6% in the second quarter. Whittier Trust Co. now owns 23,548 shares of the industrial products company’s stock worth $2,573,000 after buying an additional 601 shares during the period. 90.68% of the stock is owned by institutional investors.

Graco Company Profile

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.

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