FBR Capital maintains a 'Market Perform' on WW Grainger (GWW); Surprisingly Strong Margins Drive Impressive Beat and Raise
Tweet
Share
E-mailGet Alerts GWW Hot Sheet
Price: $958.32 --0%
Rating Summary:
9 Buy, 20 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
Rating Summary:
9 Buy, 20 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
Join SI Premium – FREE
FBR Capital maintains a 'Market Perform' on WW Grainger (NYSE: GWW), PT increased to $149.
FBR analyst says, "Grainger delivered a very impressive 1Q performance with operating EPS of $2.18 significantly ahead of FBR/consensus $1.80. Consistent with results from our Quarterly Distributor Survey, U.S. sales came in better than expectations with March sales +8%, or in line with February, despite tougher comps. The key positive surprise was the solid improvement in gross margins (up 180 bps year over year) to 44%, or the highest in recent memory. Drivers of this improvement included, (1) better pricing (+2%) more than offsetting increased product costs; (2) improved results at the Canadian operations, where pricing, better customer mix, and weaker U.S. dollar helped; and (3) supplier funding for a trade show that does not repeat the rest of the year."
For more ratings news on WW Grainger click here and for the rating history of WW Grainger click here.
Shares of WW Grainger closed at $145.32 yesterday.
FBR analyst says, "Grainger delivered a very impressive 1Q performance with operating EPS of $2.18 significantly ahead of FBR/consensus $1.80. Consistent with results from our Quarterly Distributor Survey, U.S. sales came in better than expectations with March sales +8%, or in line with February, despite tougher comps. The key positive surprise was the solid improvement in gross margins (up 180 bps year over year) to 44%, or the highest in recent memory. Drivers of this improvement included, (1) better pricing (+2%) more than offsetting increased product costs; (2) improved results at the Canadian operations, where pricing, better customer mix, and weaker U.S. dollar helped; and (3) supplier funding for a trade show that does not repeat the rest of the year."
For more ratings news on WW Grainger click here and for the rating history of WW Grainger click here.
Shares of WW Grainger closed at $145.32 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Grainger (GWW) Tops Q1 EPS by 2c, provides guidance
- Grainger (GWW) Raises Quarterly Dividend 10.2% to $2.05; Approves Repurchase of up to 5M Shares
- Impinj Inc (PI) PT Raised to $160 at Needham
Create E-mail Alert Related Categories
Analyst CommentsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
