Wells Fargo & Company reiterated their market perform rating on shares of W.W. Grainger, Inc. (NYSE:GWW) in a research note issued to investors on Wednesday morning. They currently have a $174.00 price objective on the industrial products company’s stock, down from their prior price objective of $202.50.
GWW has been the subject of a number of other research reports. BMO Capital Markets cut shares of W.W. Grainger from an outperform rating to a market perform rating and decreased their price target for the stock from $290.00 to $255.00 in a report on Thursday, March 30th. J P Morgan Chase & Co started coverage on shares of W.W. Grainger in a report on Friday, June 2nd. They issued a neutral rating and a $180.00 price target for the company. Zacks Investment Research cut shares of W.W. Grainger from a hold rating to a strong sell rating in a report on Friday, April 21st. TheStreet cut shares of W.W. Grainger from a b- rating to a c+ rating in a report on Thursday, May 11th. Finally, Credit Suisse Group cut shares of W.W. Grainger from a neutral rating to an underperform rating and decreased their price target for the stock from $235.00 to $175.00 in a report on Wednesday, April 19th. Six research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. W.W. Grainger currently has an average rating of Hold and an average target price of $187.50.
Shares of W.W. Grainger (NYSE GWW) traded up 0.003% during midday trading on Wednesday, reaching $171.895. 806,601 shares of the company’s stock were exchanged. W.W. Grainger has a one year low of $167.44 and a one year high of $262.72. The stock’s 50-day moving average is $176.17 and its 200 day moving average is $219.41. The firm has a market cap of $10.04 billion, a PE ratio of 17.549 and a beta of 0.76.
W.W. Grainger (NYSE:GWW) last posted its quarterly earnings results on Tuesday, April 18th. The industrial products company reported $2.88 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.99 by $0.11. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.57 billion. W.W. Grainger had a return on equity of 33.24% and a net margin of 5.84%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.18 EPS. Analysts anticipate that W.W. Grainger will post $10.37 EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GWW. Harfst & Associates Inc. purchased a new position in W.W. Grainger during the first quarter worth $116,000. Ibex Wealth Advisors purchased a new position in W.W. Grainger during the fourth quarter worth $134,000. Salem Investment Counselors Inc. purchased a new position in W.W. Grainger during the first quarter worth $138,000. NEXT Financial Group Inc boosted its position in W.W. Grainger by 35.0% in the first quarter. NEXT Financial Group Inc now owns 783 shares of the industrial products company’s stock worth $151,000 after buying an additional 203 shares during the last quarter. Finally, HighPoint Advisor Group LLC purchased a new position in W.W. Grainger during the fourth quarter worth $206,000. 79.75% of the stock is owned by institutional investors.
W.W. Grainger Company Profile
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.
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