Home Analysts Viewpoint An Analysis of Graco Inc. (GGG)’s Potential Price Growth

An Analysis of Graco Inc. (GGG)’s Potential Price Growth

An Analysis of Graco Inc. (GGG)’s Potential Price Growth

Graco Inc.’s filing revealed that its Executive Vice President Ahlers David M unloaded Company’s shares for reported $0.64 million on Aug 19. In the deal valued at $70.22 per share,9,051 shares were sold. As a result of this transaction, Ahlers David M now holds 65,135 shares worth roughly $ 4.43 million.

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Then, Ahlers David M sold 44,949 shares, generating $3,181,000 in total proceeds. Upon selling the shares at $70.77, the Executive Vice President now owns 65,135 shares.

Before that, Etchart Eric sold 6,000 shares. Graco Inc. shares valued at $403,200 were divested by the Director at a price of $67.20 per share. As a result of the transaction, Etchart Eric now holds 31,403 shares, worth roughly $2.14 million.

Robert W. Baird downgraded its Graco Inc. [GGG] rating to a Neutral from a an Outperform in a research note published on Friday. PT values the company’s stock at a premium of -11.48 to its Friday closing price. A number of analysts have revised their coverage, including William Blair’s analysts, who increased its forecast for the stock in early December from “a Mkt perform” to “an Outperform”. Morgan Stanley began covering GGG with “an Equal-weight” recommendation on March 31, 2021. Jefferies revised its rating on January 19, 2021. It rated GGG as “a Buy” which previously was an “a Hold”.

Price Performance Review of GGG

On Friday, Graco Inc. [NYSE:GGG] saw its stock jump 0.13% to $68.00. On the same session, the stock had its day’s lowest price of $67.29, but rose to a high of $69.04. Over the last five days, the stock has lost -2.03%. Graco Inc. shares have fallen nearly -15.65% since the year began. Nevertheless, the stocks have fallen -12.56% over the past one year. While a 52-week high of $81.09 was reached on 01/03/22, a 52-week low of $56.48 was recorded on 06/16/22. SMA at 50 days reached $63.67, while 200 days put it at $65.40. A total of 1.3 million shares were traded, compared to the trading of 1.01 million shares in the previous session.

Levels Of Support And Resistance For GGG Stock

The 24-hour chart illustrates a support level at 67.18, which if violated will result in even more drops to 66.36. On the upside, there is a resistance level at 68.93. A further resistance level may holdings at 69.86. The Relative Strength Index (RSI) on the 14-day chart is 61.22, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.95, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 25.66%. Stochastics %K at 74.82% indicates the stock is a holding.

How much short interest is there in Graco Inc.?

A steep rise in short interest was recorded in Graco Inc. stocks on Jul 14, 2022, growing by 0.2 million shares to a total of 2.27 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 2.07 million shares. There was a rise of 8.81%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.36% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.73.

Graco Inc. [GGG] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 16,367,970 shares, or roughly 9.68% of the outstanding GGG shares. In other words, the investor’s shares have fallen by -11,147 from its previous 13-F filing of 16379117.0. Additionally, BlackRock Fund Advisors increased 0.95% of its stake after which the total value it holdings stand at $798,275,795, while Fiera Capital Corp. reduced -4.35% of its stake to hold $579.53 million in the firm. Over the last quarter, Kayne Anderson Rudnick Investment sold -223,796 shares of Graco Inc., while SSgA Funds Management, Inc. sold 399,541 shares. At present, WCM Investment Management LLC is holding 5,966,080 shares valued at $357.67 million. Mairs & Power, Inc. owned 4,488,156 shares of the company at the time of its most recent 13F filing, worth $269.06 million.

However, 13 analysts have rated GGG stock as an Overweight in their predictions for 2022. The most recent change occurred on October 16, 2020 when Berenberg began covering the stock and recommended ‘”a Hold”‘ rating along with a $62 price target.


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