Oppenheimer Issues a Hold Rating on Graco

By Carrie Williams

In a report released today, Jim Giannakouros from Oppenheimer assigned a Hold rating to Graco (NYSE: GGG). The company’s shares opened today at $45.63, close to its 52-week high of $45.70.

Giannakouros observed:

“We are adjusting our EPS estimates to reflect GGG’s 3-for-1 stock split, effective December 27, 2017. Our updated 4Q17, 2017, 2018, and 2019 EPS estimates for GGG are $0.35, $1.45, $1.57, and $1.67, respectively.”

According to TipRanks.com, Giannakouros is a 4-star analyst with an average return of 7.5% and a 62.4% success rate. Giannakouros covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Carlisle Companies Inc.

Currently, the analyst consensus on Graco is Hold and the average price target is $138.67, representing a 203.9% upside.

In a report issued on December 13, Robert W. Baird also reiterated a Hold rating on the stock with a $143 price target.

Graco’s market cap is currently $7.61B and has a P/E ratio of 24.28. The company has a book value ratio of 3.5212.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. Last month, Charles Rescorla, the VP of GGG sold 47,000 shares for a total of $6,106,687.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Graco, Inc. designs, manufactures and markets premium equipment to pump, meter, mix and dispense a wide variety of fluids and coatings. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.