BNP Paribas Upgrades Graco (NYSE:GGG) to Outperform

Graco (NYSE:GGG) was upgraded by stock analysts at BNP Paribas from a “neutral” rating to an “outperform” rating in a report issued on Thursday, MarketBeat reports. The firm presently has a $105.00 target price on the industrial products company’s stock. BNP Paribas’ target price indicates a potential upside of 23.95% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Royal Bank of Canada dropped their price objective on Graco from $96.00 to $93.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. DA Davidson reaffirmed a “neutral” rating and issued a $79.00 price target on shares of Graco in a research report on Friday, September 27th. Finally, Robert W. Baird reduced their price objective on Graco from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Graco presently has an average rating of “Hold” and a consensus price target of $92.40.

Graco Stock Down 0.0 %

Shares of Graco stock opened at $84.71 on Thursday. Graco has a 12-month low of $77.49 and a 12-month high of $94.77. The stock has a 50 day moving average price of $87.21 and a two-hundred day moving average price of $83.66. The stock has a market capitalization of $14.30 billion, a P/E ratio of 29.93, a PEG ratio of 3.11 and a beta of 0.83.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.05). The firm had revenue of $519.21 million for the quarter, compared to the consensus estimate of $538.19 million. Graco had a return on equity of 21.24% and a net margin of 22.87%. Graco’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. Sell-side analysts anticipate that Graco will post 2.89 earnings per share for the current year.

Insider Transactions at Graco

In related news, insider David J. Thompson sold 3,216 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $88.31, for a total value of $284,004.96. Following the completion of the transaction, the insider now owns 27,246 shares of the company’s stock, valued at $2,406,094.26. This represents a 10.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kathryn L. Schoenrock sold 1,527 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $90.30, for a total transaction of $137,888.10. Following the transaction, the executive vice president now owns 6,374 shares of the company’s stock, valued at approximately $575,572.20. This represents a 19.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,098 shares of company stock valued at $2,776,150. 2.63% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Graco

A number of hedge funds have recently modified their holdings of GGG. Blue Trust Inc. grew its position in Graco by 220.9% in the second quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock valued at $55,000 after acquiring an additional 475 shares during the period. Chevy Chase Trust Holdings LLC boosted its stake in shares of Graco by 15.1% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 30,646 shares of the industrial products company’s stock valued at $2,430,000 after purchasing an additional 4,032 shares in the last quarter. &PARTNERS bought a new stake in shares of Graco in the 2nd quarter worth about $673,000. First Merchants Corp increased its position in shares of Graco by 8.1% during the 2nd quarter. First Merchants Corp now owns 85,129 shares of the industrial products company’s stock worth $6,749,000 after purchasing an additional 6,370 shares in the last quarter. Finally, Institute for Wealth Management LLC. acquired a new stake in shares of Graco during the 2nd quarter worth about $220,000. 93.88% of the stock is owned by institutional investors and hedge funds.

About Graco

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.