W W Grainger (NYSE:GWW) had its target price dropped by equities researchers at Morgan Stanley from $273.00 to $258.00 in a research note issued on Friday, BenzingaRatingsTable reports. The brokerage presently has an “underweight” rating on the industrial products company’s stock. Morgan Stanley’s price target points to a potential downside of 5.43% from the stock’s previous close.
A number of other equities research analysts have also recently issued reports on GWW. BMO Capital Markets reduced their price objective on W W Grainger from $320.00 to $310.00 and set a “market perform” rating for the company in a report on Tuesday, April 23rd. ValuEngine upgraded shares of W W Grainger from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. Gordon Haskett upgraded shares of W W Grainger from an “underperform” rating to a “hold” rating and set a $264.58 price objective for the company in a research report on Friday, May 17th. Stephens set a $318.00 target price on shares of W W Grainger and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Finally, William Blair reissued a “market perform” rating on shares of W W Grainger in a research note on Monday, April 22nd. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $308.06.
GWW traded down $6.94 during mid-day trading on Friday, reaching $272.82. The stock had a trading volume of 2,533 shares, compared to its average volume of 486,153. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.36 and a current ratio of 2.40. The firm has a market capitalization of $15.25 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.34 and a beta of 0.96. W W Grainger has a 52 week low of $255.09 and a 52 week high of $372.06.
W W Grainger (NYSE:GWW) last issued its quarterly earnings data on Monday, April 22nd. The industrial products company reported $4.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.42 by $0.09. W W Grainger had a return on equity of 46.09% and a net margin of 7.12%. The business had revenue of $2.80 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the business posted $4.18 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts forecast that W W Grainger will post 17.94 EPS for the current year.
W W Grainger declared that its Board of Directors has initiated a stock repurchase program on Wednesday, April 24th that permits the company to repurchase 5,000,000 shares. This repurchase authorization permits the industrial products company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GWW. Kayne Anderson Rudnick Investment Management LLC grew its position in W W Grainger by 0.5% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,460 shares of the industrial products company’s stock valued at $4,954,000 after buying an additional 84 shares during the period. Belpointe Asset Management LLC bought a new position in shares of W W Grainger during the first quarter worth $206,000. Marshall Wace North America L.P. bought a new position in shares of W W Grainger during the first quarter worth $211,000. Marshall Wace LLP purchased a new stake in W W Grainger during the first quarter valued at $1,482,000. Finally, Clearbridge Investments LLC raised its stake in W W Grainger by 4.3% during the first quarter. Clearbridge Investments LLC now owns 2,229,414 shares of the industrial products company’s stock valued at $670,897,000 after purchasing an additional 92,579 shares in the last quarter. 74.45% of the stock is owned by hedge funds and other institutional investors.
W W Grainger Company Profile
W.W. Grainger, Inc distributes maintenance, repair, and operating (MRO) products and services in the United States, Canada, Europe, Japan, Mexico, and internationally. The company provides material handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies, and metalworking tools, as well as gloves, ladders, motors, and janitorial supplies.
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