Graco (NYSE:GGG) Price Target Lowered to $70.00 at Morgan Stanley

Graco (NYSE:GGGGet Rating) had its target price cut by Morgan Stanley from $80.00 to $70.00 in a research report issued on Thursday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price target suggests a potential upside of 10.83% from the company’s current price.

Several other equities analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Graco from a “buy” rating to a “hold” rating and set a $73.00 price target on the stock. in a report on Thursday, April 7th. lowered shares of Graco from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. DA Davidson reaffirmed a “neutral” rating on shares of Graco in a report on Thursday, April 28th. Finally, Robert W. Baird decreased their price objective on shares of Graco from $80.00 to $71.00 in a research report on Friday, April 29th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to, the company has a consensus rating of “Hold” and a consensus target price of $74.25.

NYSE:GGG traded down $0.12 on Thursday, reaching $63.16. 3,682 shares of the company’s stock traded hands, compared to its average volume of 599,296. The firm has a market cap of $10.69 billion, a PE ratio of 25.41, a P/E/G ratio of 3.03 and a beta of 0.75. The stock has a 50-day simple moving average of $64.17 and a 200-day simple moving average of $70.52. The company has a quick ratio of 1.89, a current ratio of 2.98 and a debt-to-equity ratio of 0.04. Graco has a 12 month low of $58.41 and a 12 month high of $81.09.

Graco (NYSE:GGGGet Rating) last announced its earnings results on Wednesday, April 27th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.63 by ($0.06). Graco had a net margin of 21.45% and a return on equity of 26.28%. The business had revenue of $494.29 million for the quarter, compared to analysts’ expectations of $503.33 million. During the same quarter last year, the firm earned $0.58 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts anticipate that Graco will post 2.64 earnings per share for the current year.

In other news, Director J Kevin Gilligan sold 13,938 shares of the stock in a transaction dated Thursday, May 5th. The shares were sold at an average price of $63.50, for a total value of $885,063.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.52% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in GGG. Rockefeller Capital Management L.P. lifted its position in shares of Graco by 400.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 355 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 284 shares in the last quarter. Amplius Wealth Advisors LLC bought a new position in Graco in the 4th quarter valued at about $30,000. Duncker Streett & Co. Inc. boosted its stake in Graco by 51.7% during the 4th quarter. Duncker Streett & Co. Inc. now owns 408 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 139 shares in the last quarter. Prospera Financial Services Inc bought a new position in Graco during the first quarter valued at about $29,000. Finally, Allworth Financial LP grew its stake in shares of Graco by 804.3% in the 1st quarter. Allworth Financial LP now owns 425 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 378 shares during the last quarter. 84.53% of the stock is currently owned by institutional investors.

About Graco (Get Rating)

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems and applicators, and precision dispensing solutions.

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