In a report released yesterday, Bryan Blair from Oppenheimer maintained a Hold rating on Graco (NYSE: GGG). The company’s shares closed yesterday at $46.86.
Blair observed:
“We toured Division manufacturing in Minneapolis, MN, and met with CEO Pat McHale, IR with each part of the day reinforcing GGG’s through-the-cycle investment philosophy, commitment to product differentiation (affording strong pricing power and customer ROI), and automated/Lean production model. Notably, underlying Industrial demand appears solid (consistent across segments), and efforts are underway to combat incremental cost (including tariff) and FX headwinds, with 2019 pricing (standard January 1st timing, potential for >1.5% average realization) an additional lever to sustain GGG’s anticipated 35%+ IM progression and HSD+ EPS growth.”
According to TipRanks.com, Blair is a 2-star analyst with an average return of 5.4% and a 80.0% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Carlisle Companies Inc.
Graco has an analyst consensus of Hold, with a price target consensus of $48.25, a 3.0% upside from current levels. In a report issued on August 20, D.A. Davidson also maintained a Hold rating on the stock with a $49 price target.
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The company has a one-year high of $49.69 and a one-year low of $37.35. Currently, Graco has an average volume of 565.1K.
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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.
