Goldman Sachs analyst Joe Ritchie maintains $Graco (GGG.US)$ with a hold rating, and maintains the target price at $83.
According to TipRanks data, the analyst has a success rate of 68.0% and a total average return of 16.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Graco (GGG.US)$'s main analysts recently are as follows:
The weakness in the Chinese market, which represents 10% of the overall revenue, was responsible for 90% of the recent shortfall, as indicated in an analysis following the company's Q3 results. Additionally, the stock's valuation continues to hold appeal, currently sitting below its historical relative P/E range.
Graco's third-quarter earnings did not meet expectations due to lower-than-anticipated revenue and margins. The outlook for the fourth quarter and full-year projections are expected to be in line with the third-quarter performance.
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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