W W Grainger (NYSE:GWW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage currently has a $319.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 16.22% from the stock’s current price.
According to Zacks, “Grainger’s top and bottom lines improved year over year in fourth-quarter fiscal 2017. Both the figures beat the Zacks Consensus Estimate. Grainger raised its fiscal 2018 earnings per share guidance range to $12.95-$14.15, reflecting contribution from the better-than-expected fiscal 2017 operating performance, benefits from lower corporate tax rate under the U.S. tax legislation and from incremental share buybacks funded by the benefits of the tax legislation. The company maintains sales growth guidance in the range of 3-7% for fiscal 2018. 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 year.”
Other research analysts have also recently issued reports about the stock. Robert W. Baird upgraded shares of W W Grainger from a “neutral” rating to a “buy” rating in a research report on Thursday, January 25th. Credit Suisse Group increased their price target on shares of W W Grainger from $190.00 to $240.00 and gave the company an “underperform” rating in a research report on Thursday, January 25th. Oppenheimer upgraded shares of W W Grainger from a “market perform” rating to an “outperform” rating and set a $245.00 target price on the stock in a report on Wednesday, October 18th. Stifel Nicolaus restated a “hold” rating and issued a $278.00 target price on shares of W W Grainger in a report on Friday. Finally, KeyCorp restated a “hold” rating on shares of W W Grainger in a report on Monday, November 13th. Six research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $234.38.
W W Grainger (NYSE:GWW) last issued its quarterly earnings results on Wednesday, January 24th. The industrial products company reported $2.94 EPS for the quarter, beating analysts’ consensus estimates of $2.18 by $0.76. W W Grainger had a net margin of 5.62% and a return on equity of 35.76%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the business earned $2.45 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. equities research analysts predict that W W Grainger will post 13.78 EPS for the current fiscal year.
In related news, VP Laura D. Brown sold 9,158 shares of the firm’s stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $232.86, for a total value of $2,132,531.88. Following the completion of the sale, the vice president now owns 16,893 shares of the company’s stock, valued at $3,933,703.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John L. Howard sold 21,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $220.56, for a total value of $4,631,760.00. The disclosure for this sale can be found here. 9.60% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Tredje AP fonden lifted its stake in W W Grainger by 32.2% in the third quarter. Tredje AP fonden now owns 3,450 shares of the industrial products company’s stock worth $620,000 after acquiring an additional 840 shares during the period. Ronna Sue Cohen purchased a new stake in W W Grainger in the third quarter worth $3,651,000. MU Investments Co. Ltd. lifted its stake in W W Grainger by 29.2% in the fourth quarter. MU Investments Co. Ltd. now owns 24,800 shares of the industrial products company’s stock worth $5,901,000 after acquiring an additional 5,600 shares during the period. Koch Industries Inc. lifted its stake in W W Grainger by 27,293.0% in the second quarter. Koch Industries Inc. now owns 471,433 shares of the industrial products company’s stock worth $469,000 after acquiring an additional 469,712 shares during the period. Finally, Moors & Cabot Inc. purchased a new stake in W W Grainger in the second quarter worth $1,195,000. 85.02% of the stock is owned by institutional investors.
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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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