Graco (NYSE:GGG) Given New $87.00 Price Target at Robert W. Baird

Graco (NYSE:GGG) had its price objective lowered by equities researchers at Robert W. Baird from $90.00 to $87.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price objective suggests a potential upside of 4.67% from the company’s current price.

Other analysts also recently issued reports about the stock. Royal Bank of Canada upped their price objective on shares of Graco from $91.00 to $93.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Jefferies Financial Group upped their price objective on shares of Graco from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, StockNews.com raised shares of Graco from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.60.

Graco Stock Down 7.0 %

NYSE GGG opened at $83.12 on Friday. The firm has a market cap of $14.01 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 2.85 and a beta of 0.81. The company has a 50 day moving average price of $91.25 and a 200 day moving average price of $84.85. Graco has a 52 week low of $68.78 and a 52 week high of $94.77.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $0.65 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.09). The firm had revenue of $492.19 million for the quarter, compared to the consensus estimate of $536.19 million. Graco had a return on equity of 23.43% and a net margin of 23.15%. The company’s revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 EPS. On average, equities research analysts anticipate that Graco will post 3.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Angela F. Wordell sold 3,588 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total value of $335,836.80. Following the transaction, the vice president now directly owns 12,725 shares of the company’s stock, valued at $1,191,060. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Graco news, VP Angela F. Wordell sold 3,588 shares of Graco stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $93.60, for a total transaction of $335,836.80. Following the completion of the sale, the vice president now directly owns 12,725 shares in the company, valued at $1,191,060. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anthony J. Gargano sold 1,395 shares of Graco stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $88.00, for a total transaction of $122,760.00. Following the sale, the insider now owns 5,697 shares of the company’s stock, valued at $501,336. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,378 shares of company stock worth $4,376,528. Company insiders own 2.63% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Park Avenue Securities LLC grew its holdings in Graco by 1.9% during the 1st quarter. Park Avenue Securities LLC now owns 7,490 shares of the industrial products company’s stock worth $700,000 after acquiring an additional 139 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in shares of Graco by 5.5% during the 3rd quarter. Meeder Advisory Services Inc. now owns 3,004 shares of the industrial products company’s stock worth $219,000 after buying an additional 157 shares during the last quarter. Taylor Frigon Capital Management LLC lifted its position in shares of Graco by 0.9% during the 3rd quarter. Taylor Frigon Capital Management LLC now owns 18,734 shares of the industrial products company’s stock worth $1,365,000 after buying an additional 163 shares during the last quarter. Spire Wealth Management lifted its position in shares of Graco by 0.3% during the 1st quarter. Spire Wealth Management now owns 66,975 shares of the industrial products company’s stock worth $6,260,000 after buying an additional 176 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its position in shares of Graco by 24.3% during the 4th quarter. Lindbrook Capital LLC now owns 931 shares of the industrial products company’s stock worth $81,000 after buying an additional 182 shares during the last quarter. Institutional investors and hedge funds own 93.88% of the company’s stock.

Graco Company Profile

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.