Graco Inc. (GGG) Downgraded to Hold at BidaskClub
Graco Inc. (NYSE:GGG) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.
A number of other analysts have also recently weighed in on GGG. TheStreet upgraded Graco from a “c+” rating to a “b+” rating in a research report on Thursday, April 27th. Zacks Investment Research upgraded Graco from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Wednesday, April 5th. Deutsche Bank AG reiterated a “hold” rating and issued a $110.00 price target (up from $105.00) on shares of Graco in a research report on Monday, June 5th. FBR & Co reiterated a “marketperform” rating on shares of Graco in a research report on Tuesday, July 11th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $89.00 price target on shares of Graco in a research report on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the stock. Graco currently has an average rating of “Hold” and a consensus price target of $97.83.
Shares of Graco (NYSE:GGG) traded down 0.15% during trading on Friday, reaching $108.08. The company had a trading volume of 317,274 shares. The firm has a market capitalization of $6.00 billion, a PE ratio of 100.82 and a beta of 1.24. Graco has a 12 month low of $69.33 and a 12 month high of $114.65. The stock has a 50 day moving average price of $111.15 and a 200 day moving average price of $96.90.
Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.30. The business had revenue of $340.59 million for the quarter, compared to analysts’ expectations of $315.62 million. Graco had a return on equity of 35.25% and a net margin of 4.53%. Graco’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 earnings per share. On average, equities research analysts forecast that Graco will post $4.14 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, July 13th. Graco’s dividend payout ratio (DPR) is 135.85%.
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In other Graco news, VP Charles L. Rescorla sold 30,000 shares of the business’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $109.99, for a total value of $3,299,700.00. Following the transaction, the vice president now owns 91,802 shares of the company’s stock, valued at $10,097,301.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Brian J. Zumbolo sold 25,500 shares of the business’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $108.25, for a total value of $2,760,375.00. Following the completion of the transaction, the vice president now directly owns 26,719 shares in the company, valued at approximately $2,892,331.75. The disclosure for this sale can be found here. Insiders sold 599,672 shares of company stock worth $16,059,788 over the last quarter. Company insiders own 5.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Somerset Trust Co raised its position in Graco by 0.4% in the second quarter. Somerset Trust Co now owns 5,093 shares of the industrial products company’s stock worth $557,000 after buying an additional 21 shares in the last quarter. Creative Planning raised its position in Graco by 200.1% in the second quarter. Creative Planning now owns 4,490 shares of the industrial products company’s stock worth $491,000 after buying an additional 2,994 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new position in Graco during the second quarter worth approximately $649,000. GW&K Investment Management LLC raised its position in Graco by 7.0% in the second quarter. GW&K Investment Management LLC now owns 165,393 shares of the industrial products company’s stock worth $18,074,000 after buying an additional 10,870 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Graco by 40.1% in the second quarter. Bank of Montreal Can now owns 95,281 shares of the industrial products company’s stock worth $10,412,000 after buying an additional 27,276 shares in the last quarter. 90.80% of the stock is currently owned by institutional investors.
Graco Company Profile
Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.
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