Zacks Investment Research upgraded shares of W. W. Grainger (NYSE:GWW) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $318.00 price objective on the industrial products company’s stock.
According to Zacks, “Grainger expects its fiscal 2018 earnings per share at $12.95-$14.15. The mid-point of the guidance reflects 18% year-over-year growth driven by better-than-expected fiscal 2017 operating performance, benefits from lower corporate tax rate under the U.S. tax legislation and incremental share buybacks. The company anticipates sales growth at 3%-7% for the fiscal. Grainger will benefit from pricing initiatives, digital marketing strategies, focus on improving cost structure and efforts to bring its Canadian business back to profitability. It also remains focused on improving services to customers and consistent direct-to-customer shipping. Moreover, the stock has outperformed the industry over the past six months.”
A number of other research firms also recently weighed in on GWW. Stephens reaffirmed a hold rating and issued a $264.00 target price on shares of W. W. Grainger in a research report on Thursday, January 25th. BMO Capital Markets raised their target price on shares of W. W. Grainger from $235.00 to $242.00 and gave the company a market perform rating in a research report on Friday, March 16th. They noted that the move was a valuation call. Oppenheimer raised their target price on shares of W. W. Grainger from $245.00 to $320.00 and gave the company an outperform rating in a research report on Thursday, January 25th. TheStreet raised shares of W. W. Grainger from a c+ rating to a b- rating in a research report on Wednesday, December 13th. Finally, Robert W. Baird raised shares of W. W. Grainger from a neutral rating to a buy rating in a research report on Thursday, January 25th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $244.85.
W. W. Grainger stock opened at $286.67 on Wednesday. The firm has a market capitalization of $16,482.09, a P/E ratio of 25.01, a price-to-earnings-growth ratio of 2.20 and a beta of 0.81. W. W. Grainger has a 1-year low of $155.00 and a 1-year high of $298.14. The company has a quick ratio of 1.18, a current ratio of 2.13 and a debt-to-equity ratio of 1.23.
W. W. Grainger (NYSE:GWW) last released its earnings results on Wednesday, January 24th. The industrial products company reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.76. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.57 billion. W. W. Grainger had a net margin of 5.62% and a return on equity of 35.76%. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.45 earnings per share. research analysts anticipate that W. W. Grainger will post 13.76 earnings per share for the current year.
In other news, VP John L. Howard sold 19,500 shares of W. W. Grainger stock in a transaction dated Thursday, April 5th. The shares were sold at an average price of $295.00, for a total value of $5,752,500.00. Following the completion of the transaction, the vice president now owns 57,906 shares of the company’s stock, valued at approximately $17,082,270. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lucas E. Watson acquired 195 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was purchased at an average cost of $256.51 per share, with a total value of $50,019.45. The disclosure for this purchase can be found here. In the last three months, insiders sold 28,758 shares of company stock valued at $7,911,638. Insiders own 10.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of GWW. JPMorgan Chase & Co. lifted its stake in shares of W. W. Grainger by 447.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 201,494 shares of the industrial products company’s stock worth $36,283,000 after buying an additional 164,656 shares during the last quarter. Longview Partners Guernsey LTD lifted its stake in shares of W. W. Grainger by 3.1% during the 4th quarter. Longview Partners Guernsey LTD now owns 5,157,790 shares of the industrial products company’s stock worth $1,218,528,000 after buying an additional 156,313 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of W. W. Grainger by 17.3% during the 4th quarter. Bank of New York Mellon Corp now owns 857,696 shares of the industrial products company’s stock worth $202,631,000 after buying an additional 126,745 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of W. W. Grainger by 7.6% during the 4th quarter. Clearbridge Investments LLC now owns 1,724,480 shares of the industrial products company’s stock worth $407,408,000 after buying an additional 121,831 shares during the last quarter. Finally, Element Capital Management LLC acquired a new stake in shares of W. W. Grainger during the 4th quarter worth about $24,896,000. Institutional investors own 83.66% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “W. W. Grainger (GWW) Lifted to “Buy” at Zacks Investment Research” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this news story on another domain, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this news story can be read at https://www.dispatchtribunal.com/2018/04/07/w-w-grainger-gww-lifted-to-buy-at-zacks-investment-research.html.
W. W. Grainger Company Profile
W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) supplies; and other related products and services that are used by businesses and institutions in the United States, Canada, Europe, Asia, and Latin America. The company offers material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, metalworking tools, and various other products.
Get a free copy of the Zacks research report on W. W. Grainger (GWW)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for W. W. Grainger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W. W. Grainger and related companies with MarketBeat.com's FREE daily email newsletter.