Graco Inc. (GGG) Given Average Recommendation of “Hold” by Analysts
Shares of Graco Inc. (NYSE:GGG) have been assigned a consensus rating of “Hold” from the ten brokerages that are presently covering the firm. One analyst has rated the stock with a sell recommendation and eight have issued a hold recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $82.71.
GGG has been the subject of a number of research reports. William Blair downgraded shares of Graco from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $89.00 to $78.00 in a research report on Thursday, July 21st. Deutsche Bank AG assumed coverage on shares of Graco in a research note on Tuesday, September 6th. They set a “hold” rating and a $83.00 price target on the stock. Finally, Zacks Investment Research cut shares of Graco from a “hold” rating to a “sell” rating in a research note on Wednesday, October 12th.
Graco (NYSE:GGG) traded down 0.19% during mid-day trading on Tuesday, hitting $71.78. 121,198 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $73.38 and its 200-day moving average price is $77.40. Graco has a 12 month low of $63.05 and a 12 month high of $86.62. The stock has a market cap of $4.00 billion, a PE ratio of 21.16 and a beta of 1.51.
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Graco (NYSE:GGG) last released its earnings results on Wednesday, July 20th. The company reported $0.89 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.11. Graco had a net margin of 15.01% and a return on equity of 30.04%. The company had revenue of $348.10 million for the quarter, compared to the consensus estimate of $352.49 million. During the same period in the prior year, the company earned $1.05 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. Equities analysts expect that Graco will post $3.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Monday, October 17th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Thursday, October 13th. Graco’s dividend payout ratio is presently 38.94%.
In other Graco news, insider Patrick J. Mchale sold 11,500 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $74.19, for a total value of $853,185.00. Following the sale, the insider now directly owns 142,230 shares in the company, valued at approximately $10,552,043.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.60% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the company. Creative Planning boosted its stake in Graco by 13.9% in the second quarter. Creative Planning now owns 1,354 shares of the company’s stock valued at $107,000 after buying an additional 165 shares during the period. Tower Research Capital LLC TRC boosted its stake in Graco by 292.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,336 shares of the company’s stock valued at $185,000 after buying an additional 1,741 shares during the period. Fifth Third Bancorp boosted its stake in Graco by 4.6% in the second quarter. Fifth Third Bancorp now owns 2,476 shares of the company’s stock valued at $196,000 after buying an additional 110 shares during the period. Princeton Alpha Management LP bought a new stake in Graco during the second quarter valued at $204,000. Finally, Hsbc Holdings PLC boosted its stake in Graco by 1.4% in the second quarter. Hsbc Holdings PLC now owns 2,675 shares of the company’s stock valued at $211,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 90.53% of the company’s stock.
Graco Inc (Graco) is a manufacturing company. The Company designs, manufactures and markets equipment to pump, meter, mix and dispense fluid and powder materials. The Company operates through three segments: Industrial, Process and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.
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