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Graco (GGG) Receives a Hold from Berenberg Bank

In a report issued on February 3, Berenberg Bank from Berenberg Bank maintained a Hold rating on Graco (GGGResearch Report), with a price target of $84.00. The company’s shares closed last Monday at $71.84.

Currently, the analyst consensus on Graco is a Moderate Buy with an average price target of $83.67, a 16.3% upside from current levels. In a report issued on February 1, D.A. Davidson also maintained a Hold rating on the stock with a $80.00 price target.

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Based on Graco’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $540 million and net profit of $120 million. In comparison, last year the company earned revenue of $470 million and had a net profit of $115 million.

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Graco, Inc. is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies, Industrial Products and Process divisions. It markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids. The Process segment markets pumps, valves, meters and accessories to move and dispense chemicals, oil & natural gas, water, wastewater, petroleum, food, lubricants and other fluids. The Contractor segment equipment includes sprayers that apply texture to walls and ceilings, highly viscous coatings to roofs and markings on roads, parking lots, athletic fields and floors. Graco was founded by Russell Gray and Leil Gray in April 1926 and is headquartered in Minneapolis, MN.

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