Graco (NYSE:GGG) Hits New 52-Week Low – Should You Sell?

Shares of Graco Inc. (NYSE:GGG) reached a new 52-week low on Wednesday . The company traded as low as $73.26 and last traded at $73.4630, with a volume of 764733 shares traded. The stock had previously closed at $75.86.

Analyst Ratings Changes

A number of analysts recently weighed in on GGG shares. Robert W. Baird cut their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 target price on shares of Graco in a research note on Friday, April 24th. DA Davidson restated a “neutral” rating and set a $85.00 target price on shares of Graco in a research note on Monday, April 27th. Finally, Weiss Ratings lowered shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $94.25.

Graco Price Performance

The company has a market capitalization of $12.19 billion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 2.39 and a beta of 0.93. The company’s 50 day simple moving average is $80.19 and its 200 day simple moving average is $84.45.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.09). The company had revenue of $540.14 million during the quarter, compared to analysts’ expectations of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, equities analysts forecast that Graco Inc. will post 3.1 EPS for the current year.

Insider Buying and Selling

In related news, Director Andrea Helen Simon purchased 1,240 shares of the company’s stock in a transaction on Monday, April 27th. The shares were bought at an average cost of $80.53 per share, for a total transaction of $99,857.20. Following the completion of the purchase, the director directly owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.18% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Graco

Several large investors have recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Graco by 3.2% in the fourth quarter. State Street Corp now owns 7,813,877 shares of the industrial products company’s stock valued at $640,503,000 after acquiring an additional 242,817 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Graco by 5.9% in the fourth quarter. Geode Capital Management LLC now owns 4,652,241 shares of the industrial products company’s stock valued at $380,642,000 after acquiring an additional 261,126 shares during the period. Morgan Stanley boosted its holdings in shares of Graco by 5.4% in the fourth quarter. Morgan Stanley now owns 4,057,036 shares of the industrial products company’s stock valued at $332,556,000 after acquiring an additional 206,949 shares during the period. Amundi boosted its holdings in shares of Graco by 2.6% in the third quarter. Amundi now owns 2,076,887 shares of the industrial products company’s stock valued at $176,016,000 after acquiring an additional 53,126 shares during the period. Finally, Norges Bank acquired a new stake in shares of Graco in the fourth quarter valued at approximately $161,949,000. 93.88% of the stock is owned by institutional investors and hedge funds.

About Graco

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.