Graco Inc. (GGG) Stock Faces Lower Risks Forward After Forming Bullish Double Top Chart Pattern

December 14, 2017 - By Darrin Black

Investors sentiment increased to 1.15 in 2017 Q2. Its up 0.09, from 1.06 in 2017Q1. It is positive, as 13 investors sold Graco Inc. shares while 117 reduced holdings. 65 funds opened positions while 84 raised stakes. 47.80 million shares or 2.93% less from 49.25 million shares in 2017Q1 were reported.
Sg Americas Secs Ltd Liability Co has invested 0.02% in Graco Inc. (NYSE:GGG). Eagle Asset Management Inc holds 0.23% of its portfolio in Graco Inc. (NYSE:GGG) for 352,548 shares. 5,780 were accumulated by Tocqueville Asset Mgmt Ltd Partnership. 7,385 are owned by Asset Mgmt One Ltd. Weaver C Barksdale & Assocs owns 64 shares or 0.01% of their US portfolio. Ngam Advisors L P reported 0.09% stake. Rocky Mountain Advisers Ltd Liability reported 33 shares stake. Neuberger Berman Ltd Llc owns 910,163 shares. Franklin Resources, a California-based fund reported 8,424 shares. Gotham Asset Management Ltd Co reported 1,833 shares. Jnba Advisors reported 0.47% of its portfolio in Graco Inc. (NYSE:GGG). Cookson Peirce reported 4,710 shares. Voya Investment Mgmt Limited stated it has 0.01% of its portfolio in Graco Inc. (NYSE:GGG). Duncker Streett And Co holds 71 shares or 0% of its portfolio. Da Davidson, Montana-based fund reported 1,220 shares.

Since September 8, 2017, it had 0 insider buys, and 6 selling transactions for $10.44 million activity. Another trade for 1,248 shares valued at $150,144 was sold by Moreau Bernard J. On Friday, September 8 LOWE DAVID M sold $3.46 million worth of Graco Inc. (NYSE:GGG) or 30,000 shares. SHEAHAN MARK W had sold 30,000 shares worth $3.94M. Ahlers David M also sold $2.70 million worth of Graco Inc. (NYSE:GGG) shares.

The chart of Graco Inc. (GGG) shows a double top with $137.05 target or 4.00 % above today’s $131.78 share price. The 8 months chart pattern indicates low risk for the $7.40B company. It was reported on Dec, 14 by Finviz.com. If the $137.05 price target is reached, the company will be worth $295.88 million more. Double tops are rare but powerful chart patterns.

The stock increased 1.91% or $2.47 during the last trading session, reaching $131.78. About 329,606 shares traded or 34.85% up from the average. Graco Inc. (NYSE:GGG) has risen 41.79% since December 14, 2016 and is uptrending. It has outperformed by 25.09% the S&P500.

Analysts await Graco Inc. (NYSE:GGG) to report earnings on January, 29. They expect $1.06 earnings per share, up 6.00 % or $0.06 from last year’s $1 per share. GGG’s profit will be $59.50 million for 31.08 P/E if the $1.06 EPS becomes a reality. After $1.15 actual earnings per share reported by Graco Inc. for the previous quarter, Wall Street now forecasts -7.83 % negative EPS growth.

Graco Inc. (NYSE:GGG) Ratings Coverage

Among 13 analysts covering Graco Inc (NYSE:GGG), 1 have Buy rating, 0 Sell and 12 Hold. Therefore 8% are positive. Graco Inc had 26 analyst reports since September 15, 2015 according to SRatingsIntel. The firm has “Buy” rating by SunTrust given on Tuesday, November 3. The firm has “Neutral” rating given on Thursday, April 14 by SunTrust. As per Wednesday, February 1, the company rating was downgraded by Wunderlich. The firm earned “Hold” rating on Wednesday, October 4 by Robert W. Baird. RBC Capital Markets maintained it with “Hold” rating and $10400 target in Monday, July 10 report. The rating was initiated by Alembic on Tuesday, September 15 with “Neutral”. On Friday, September 15 the stock rating was maintained by RBC Capital Markets with “Hold”. The company was initiated on Thursday, September 17 by Alembic. William Blair downgraded Graco Inc. (NYSE:GGG) on Thursday, July 21 to “Market Perform” rating. The firm has “Sector Perform” rating by RBC Capital Markets given on Wednesday, February 1.

More news for Graco Inc. (NYSE:GGG) were recently published by: Streetinsider.com, which released: “Graco (GGG) Names Emily White to Board” on December 08, 2017. Startribune.com‘s article titled: “Graco Inc. declares 3-for-1 stock split” and published on December 08, 2017 is yet another important article.

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