Oppenheimer Holdings, Inc. Upgrades W.W. Grainger, Inc. (GWW) to “Outperform”

W.W. Grainger, Inc. (NYSE:GWW) was upgraded by stock analysts at Oppenheimer Holdings, Inc. from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, October 18th. The firm presently has a $245.00 target price on the industrial products company’s stock. Oppenheimer Holdings, Inc.’s price target points to a potential upside of 22.65% from the stock’s current price. Oppenheimer Holdings also issued estimates for W.W. Grainger’s Q4 2017 earnings at $2.11 EPS, FY2017 earnings at $10.65 EPS, Q1 2018 earnings at $2.75 EPS, Q2 2018 earnings at $2.84 EPS, Q3 2018 earnings at $3.21 EPS, Q4 2018 earnings at $2.55 EPS, FY2018 earnings at $11.35 EPS and FY2019 earnings at $13.35 EPS.

Other analysts have also issued reports about the stock. Morgan Stanley reduced their price target on shares of W.W. Grainger from $174.00 to $172.00 and set an “underweight” rating for the company in a research report on Thursday, July 20th. Northcoast Research began coverage on shares of W.W. Grainger in a research report on Tuesday, July 25th. They issued a “neutral” rating for the company. Zacks Investment Research upgraded shares of W.W. Grainger from a “sell” rating to a “hold” rating in a research report on Friday, July 21st. KeyCorp restated a “sector weight” rating on shares of W.W. Grainger in a research report on Monday, August 21st. Finally, Credit Suisse Group upgraded shares of W.W. Grainger to a “hold” rating and set a $175.00 price target for the company in a research report on Wednesday, July 19th. Seven investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. W.W. Grainger has an average rating of “Hold” and a consensus price target of $190.85.

Shares of W.W. Grainger (GWW) traded down 0.71% on Wednesday, hitting $199.76. The stock had a trading volume of 999,411 shares. The stock has a 50 day moving average of $182.71 and a 200 day moving average of $178.13. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 23.84 and a beta of 0.76. W.W. Grainger has a 12-month low of $155.00 and a 12-month high of $262.71.

W.W. Grainger (NYSE:GWW) last released its earnings results on Tuesday, October 17th. The industrial products company reported $2.90 EPS for the quarter, beating the consensus estimate of $2.56 by $0.34. W.W. Grainger had a net margin of 4.83% and a return on equity of 34.25%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same period in the prior year, the business earned $3.06 earnings per share. The business’s quarterly revenue was up 1.5% on a year-over-year basis. Equities analysts predict that W.W. Grainger will post $10.68 earnings per share for the current fiscal year.

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In other W.W. Grainger news, VP Eric R. Tapia sold 190 shares of the stock in a transaction on Friday, October 20th. The shares were sold at an average price of $208.26, for a total value of $39,569.40. Following the completion of the sale, the vice president now directly owns 3,748 shares of the company’s stock, valued at approximately $780,558.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.60% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of W.W. Grainger by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 5,549,453 shares of the industrial products company’s stock worth $1,001,844,000 after acquiring an additional 111,244 shares during the period. Longview Partners Guernsey LTD lifted its holdings in shares of W.W. Grainger by 32.6% during the 2nd quarter. Longview Partners Guernsey LTD now owns 3,755,706 shares of the industrial products company’s stock worth $678,018,000 after acquiring an additional 923,948 shares during the period. BlackRock Inc. lifted its holdings in shares of W.W. Grainger by 1.7% during the 2nd quarter. BlackRock Inc. now owns 3,476,970 shares of the industrial products company’s stock worth $627,699,000 after acquiring an additional 59,673 shares during the period. State Street Corp lifted its holdings in shares of W.W. Grainger by 5.4% during the 2nd quarter. State Street Corp now owns 3,251,383 shares of the industrial products company’s stock worth $586,971,000 after acquiring an additional 165,293 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of W.W. Grainger by 20.0% during the 2nd quarter. Northern Trust Corp now owns 1,288,602 shares of the industrial products company’s stock worth $232,633,000 after acquiring an additional 214,775 shares during the period. 80.34% of the stock is owned by institutional investors.

About W.W. Grainger

W.W. Grainger, Inc (Grainger) is a distributor of maintenance, repair and operating (MRO) supplies and other related products and services. The Company offers its products and services to businesses and institutions in the United States and Canada, with presence also in Europe, Asia and Latin America.

Analyst Recommendations for W.W. Grainger (NYSE:GWW)

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