In a report released today, Christopher Glynn from Oppenheimer assigned a Buy rating to WW Grainger (GWW), with a price target of $400.00. The company’s shares closed last Thursday at $371.36, close to its 52-week high of $392.53.
According to TipRanks.com, Glynn is a 5-star analyst with an average return of 9.9% and a 61.8% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Wesco International.
Currently, the analyst consensus on WW Grainger is a Moderate Buy with an average price target of $380.70, a 1.9% upside from current levels. In a report issued on October 13, Jefferies also maintained a Buy rating on the stock with a $450.00 price target.
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Based on WW Grainger’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.84 billion and net profit of $114 million. In comparison, last year the company earned revenue of $2.89 billion and had a net profit of $260 million.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GWW in relation to earlier this year.
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W.W. Grainger, Inc. operates as a supplier of maintenance, repair and operating products (MRO), with operations also in Europe, Asia and Latin America. It operates through two segments: United States and Canada. The United States segment offers a selection of MRO products and services through its eCommerce platforms, catalogs, branches and sales and service representatives. The Canada segment provides a combination of product breadth, local availability, speed of delivery, detailed product information and competitively priced products and services. The company was founded by William Wallace Grainger in 1927 and is headquartered in Lake Forest, IL.