Graco Inc. (GGG) Expected to Announce Quarterly Sales of $368.29 Million
Wall Street brokerages expect Graco Inc. (NYSE:GGG) to report sales of $368.29 million for the current quarter, according to Zacks. Seven analysts have issued estimates for Graco’s earnings, with the highest sales estimate coming in at $375.85 million and the lowest estimate coming in at $362.00 million. Graco reported sales of $348.13 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.8%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, July 26th.
On average, analysts expect that Graco will report full year sales of $368.29 million for the current financial year, with estimates ranging from $1.40 billion to $1.43 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.48 billion per share, with estimates ranging from $1.47 billion to $1.50 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Graco.
Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.30. Graco had a net margin of 4.53% and a return on equity of 35.25%. The company had revenue of $340.59 million for the quarter, compared to analyst estimates of $315.62 million. During the same quarter last year, the firm posted $0.70 earnings per share. The company’s quarterly revenue was up 11.7% compared to the same quarter last year.
A number of equities research analysts recently weighed in on the company. 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 note on Wednesday, April 5th. Royal Bank Of Canada restated a “hold” rating and issued a $89.00 price target on shares of Graco in a research note on Tuesday, April 11th. TheStreet upgraded Graco from a “c+” rating to a “b+” rating in a research note on Thursday, April 27th. Deutsche Bank AG restated a “hold” rating and issued a $110.00 price target (up previously from $105.00) on shares of Graco in a research note on Monday, June 5th. Finally, BidaskClub cut Graco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. Graco presently has a consensus rating of “Hold” and an average target price of $97.83.
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Graco (NYSE GGG) traded down 0.76% during trading on Friday, hitting $107.94. 211,927 shares of the stock were exchanged. The firm’s 50 day moving average price is $110.63 and its 200-day moving average price is $99.43. Graco has a 1-year low of $69.33 and a 1-year high of $114.65. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 100.69 and a beta of 1.24.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 2nd. Investors of record on Monday, July 17th will be paid 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 presently 135.85%.
In other Graco news, Director Eric Etchart sold 302 shares of the stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $98.20, for a total transaction of $29,656.40. Following the transaction, the director now owns 8,917 shares in the company, valued at approximately $875,649.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian J. Zumbolo sold 25,500 shares of the 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 transaction, the vice president now owns 26,719 shares in the company, valued at approximately $2,892,331.75. The disclosure for this sale can be found here. Insiders have sold a total of 236,172 shares of company stock worth $16,016,168 in the last quarter. Company insiders own 5.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BB&T Corp boosted its position in Graco by 0.4% in the second quarter. BB&T Corp now owns 2,567 shares of the industrial products company’s stock valued at $280,000 after buying an additional 11 shares during the last quarter. Somerset Trust Co raised its stake in Graco by 0.4% in the second quarter. Somerset Trust Co now owns 5,093 shares of the industrial products company’s stock valued at $557,000 after buying an additional 21 shares during the period. Profund Advisors LLC raised its stake in Graco by 0.5% in the first quarter. Profund Advisors LLC now owns 7,738 shares of the industrial products company’s stock valued at $728,000 after buying an additional 37 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in Graco by 0.6% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 9,651 shares of the industrial products company’s stock valued at $909,000 after buying an additional 54 shares during the period. Finally, Mosaic Family Wealth LLC raised its stake in Graco by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 1,789 shares of the industrial products company’s stock valued at $168,000 after buying an additional 62 shares during the period. Hedge funds and other institutional investors own 90.78% of the company’s stock.
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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