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Graco (GGG) Receives a Hold from Oppenheimer

In a report released today, Bryan Blair from Oppenheimer maintained a Hold rating on Graco (GGGResearch Report). The company’s shares closed last Monday at $67.02.

According to TipRanks.com, Blair is a 5-star analyst with an average return of 17.7% and a 61.9% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Evoqua Water Technologies, and Watts Water Technologies.

Graco has an analyst consensus of Hold, with a price target consensus of $70.75, which is a 6.5% upside from current levels. In a report issued on July 28, Robert W. Baird also maintained a Hold rating on the stock with a $69.00 price target.

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Based on Graco’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $549 million and net profit of $117 million. In comparison, last year the company earned revenue of $507 million and had a net profit of $110 million.

Based on the recent corporate insider activity of 17 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 GGG in relation to earlier this year. Most recently, in May 2022, Kevin J. Gilligan, a Director at GGG sold 13,938 shares for a total of $884,924.

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. 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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