Baird analyst Michael Halloran maintains $Graco (GGG.US)$ with a hold rating, and adjusts the target price from $86 to $85.
According to TipRanks data, the analyst has a success rate of 61.4% and a total average return of 11.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Graco (GGG.US)$'s main analysts recently are as follows:
Following Graco's Q3 outcomes, it was noted that the company's performance was notably affected by softness in China, which represents a tenth of its total revenue and was responsible for the majority of the revenue shortfall. Additionally, the stock's valuation is considered appealing, as it is currently below its conventional relative P/E range.
Graco's 3Q earnings did not meet expectations due to lower than anticipated revenue and margins. Despite this, the company's guidance remains unchanged, with management anticipating that 4Q results will be in line with 3Q and consistent with full-year expectations.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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