GGG Price Prediction Next Week
Analysis and Insights
Technical Analysis:
Graco Inc. (GGG) is currently trading at $87.28 as of the latest real-time price. The stock shows a neutral RSI of 62.86, indicating it is not overbought or oversold. The MACD is slightly bullish at 0.29, suggesting weak upward momentum. The stock is trading near its 20-day SMA of $86.07, indicating a stable price range.
News and Event Impact:
- Earnings Disappointment: Graco reported weaker-than-expected Q4 adjusted EPS of 64 cents, below the consensus estimate of 76 cents, leading to a nearly 3% drop in the stock price.
- Tariff Impact: The company is shifting production out of China to mitigate the impact of U.S. tariffs, aiming to reduce import costs. This strategic move could stabilize margins but may face short-term execution risks.
Market Sentiment:
The broader market is mixed, with the S&P 500 and Nasdaq showing gains driven by tech stocks, while tariff concerns weigh on industrials like Graco. The stock's recent underperformance suggests investor caution due to earnings and tariff risks.
Fibonacci Levels:
The stock is trading near its Fibonacci pivot level of $85.53, with resistance at $87.37 and $88.50. The recent price action suggests a potential pullback to the lower Fibonacci support level of $83.69.
Conclusion:
Based on the technical indicators and recent news, Graco Inc. (GGG) is likely to face selling pressure in the next trading week. The stock is expected to decline to $84.50 as it tests the lower Fibonacci support level.
Recommendation: Sell GGG at its current price of $87.28, targeting a price of $84.50 for the next trading week.
GGG Similar Chart Price Prediction
The price of GGG is predicted to go up 1.32%, based on the high correlation periods with NNN. The similarity of these two price pattern on the periods is 90.52%.
GGG
NNN
Up: 1.32%Similarity: 90.52%
GGG Revenue Forecast
GGG EPS Forecast
GGG FAQs
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GGG VS S&P500
Graco has a large installed base and leading market share across a wide range of niche products.
Graco has a healthy level of recurring revenue, generating roughly 40% of its sales from aftermarket parts and accessories, which reduces the volatility of its earnings from cyclical end markets.
The company generates strong free cash flows, averaging around 17% of revenue over the past decade.
GGG Analyst's Forecast
Deane Dray
RBC Capital
Buy
2025-01-03
Price Target
$93 → $97
Upside
+15.37%
RBC Capital analyst Deane Dray raised the firm's price target on Graco to $97 from $93 and keeps an Outperform rating on the shares as part of a broader research note previewing 2025 for the Multi-Industry sector. Secular drivers like electrification, reshoring, and datacenters remain powerful growth drivers, and Trump 2.0 should be decidedly pro-business and tariffs should be a manageable risk, the analyst tells investors in a research note. RBC adds that its sees Graco as one of higher-quality Industrials as it generates a +25% operating margin even as it steps up growth investments, and these margins are supported by the strength of its distribution and ability to pass through price, new product development, exclusive focus on differentiated products, and its core competency in manufacturing.
Deane Dray
RBC Capital
Buy
2024-10-25
Price Target
$96 → $93
Upside
+13.22%
Michael Halloran
Baird
Hold
2024-10-25
Price Target
$88 → $85
Upside
+3.48%
