GGG - Graco: Still A Hold As Construction And Housing Begin To Struggle
2024-06-07 02:03:11 ET
Summary
- Graco reported first quarter results and the top and bottom line continue to decline.
- The stock can be seen as fairly valued or maybe even slightly overvalued at this point.
- But the declining construction sales could be seen as a harbinger of further troubles the economy might be headed for.
- The stock is still a "Hold" at this point.
At the beginning of the year – in mid-January 2024 – I published my last article about Graco, Inc. ( GGG ) and in these almost five months the stock first increased to an all-time high of $94.77 and then started declining again and is now trading about 16.5% below that all-time high. Compared to my last article the stock lost about 5% in value while the S&P 500 increased 13% in the same timeframe....
Graco: Still A Hold As Construction And Housing Begin To Struggle