Graco (NYSE:GGG) Hits New 52-Week Low – What’s Next?

Graco Inc. (NYSE:GGG) hit a new 52-week low during trading on Monday . The stock traded as low as $75.57 and last traded at $76.25, with a volume of 8020 shares. The stock had previously closed at $75.72.

Wall Street Analysts Forecast Growth

GGG has been the topic of several recent analyst reports. DA Davidson reiterated a “neutral” rating and issued a $85.00 price target on shares of Graco in a report on Monday, April 27th. Jefferies Financial Group lifted their price target on shares of Graco from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, January 28th. Robert W. Baird cut their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $95.00 price target on shares of Graco in a report on Friday, April 24th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Graco in a report on Tuesday, January 27th. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $94.25.

Graco Stock Down 1.1%

The firm has a market cap of $12.51 billion, a P/E ratio of 24.54, a PEG ratio of 2.44 and a beta of 0.96. The firm’s fifty day moving average is $83.47 and its two-hundred day moving average is $85.08.

Graco (NYSE:GGG) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $561.35 million. During the same quarter last year, the firm earned $0.70 EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that Graco Inc. will post 3.12 EPS for the current year.

Insider Activity at Graco

In other Graco news, Director Andrea Helen Simon bought 1,240 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were purchased at an average price of $80.53 per share, for a total transaction of $99,857.20. Following the acquisition, the director owned 1,240 shares in the company, valued at approximately $99,857.20. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.18% of the company’s stock.

Institutional Trading of Graco

A number of hedge funds have recently modified their holdings of GGG. Cassaday & Co Wealth Management LLC bought a new stake in shares of Graco during the 1st quarter valued at $26,000. Whipplewood Advisors LLC boosted its holdings in shares of Graco by 2,650.0% during the 1st quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock valued at $28,000 after buying an additional 318 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Graco during the 3rd quarter valued at $29,000. Assetmark Inc. boosted its holdings in shares of Graco by 42.6% during the 3rd quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after buying an additional 139 shares in the last quarter. Finally, Field & Main Bank bought a new stake in shares of Graco during the 4th quarter valued at $41,000. Institutional investors own 93.88% of the company’s stock.

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.