Q3 2017 Earnings Estimate for Graco Inc. (NYSE:GGG) Issued By FBR & Co
Graco Inc. (NYSE:GGG) – FBR & Co issued their Q3 2017 earnings per share (EPS) estimates for shares of Graco in a research note issued to investors on Thursday. FBR & Co analyst L. Burke forecasts that the industrial products company will post earnings per share of $1.02 for the quarter. FBR & Co currently has a “Marketperform” rating on the stock. FBR & Co also issued estimates for Graco’s Q4 2017 earnings at $1.08 EPS and FY2018 earnings at $4.63 EPS.
Several other research analysts have also issued reports on GGG. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research note on Wednesday, April 5th. Royal Bank Of Canada reiterated a “hold” rating and issued a $89.00 price target on shares of Graco in a research note on Tuesday, April 11th. TheStreet upgraded shares of Graco from a “c+” rating to a “b+” rating in a research note on Thursday, April 27th. 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 note on Monday, June 5th. Finally, BidaskClub lowered shares of 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 five have issued a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $101.80.
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Shares of Graco (GGG) opened at 115.39 on Friday. The stock’s 50 day moving average is $110.07 and its 200 day moving average is $100.22. Graco has a 52-week low of $69.33 and a 52-week high of $116.20. The company has a market capitalization of $6.41 billion, a P/E ratio of 107.64 and a beta of 1.24.
Graco (NYSE:GGG) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.06 by $0.32. The company had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. Graco had a net margin of 4.53% and a return on equity of 35.25%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 earnings per share.
Hedge funds have recently added to or reduced their stakes in the stock. 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 worth $728,000 after buying an additional 37 shares in the last quarter. Nationwide Fund Advisors raised its stake in Graco by 0.9% in the first quarter. Nationwide Fund Advisors now owns 93,502 shares of the industrial products company’s stock worth $8,802,000 after buying an additional 802 shares in the last quarter. Retirement Systems of Alabama raised its stake in Graco by 59.9% in the first quarter. Retirement Systems of Alabama now owns 114,949 shares of the industrial products company’s stock worth $10,821,000 after buying an additional 43,042 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in Graco by 126.5% in the first quarter. Conestoga Capital Advisors LLC now owns 22,248 shares of the industrial products company’s stock worth $2,094,000 after buying an additional 12,425 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Graco by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 14,100 shares of the industrial products company’s stock worth $1,327,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 90.68% of the company’s stock.
In other Graco news, VP Brian J. Zumbolo sold 25,500 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $108.25, for a total transaction of $2,760,375.00. Following the completion of the sale, the vice president now directly owns 26,719 shares in the company, valued at approximately $2,892,331.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William J. Carroll sold 8,600 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $107.96, for a total transaction of $928,456.00. Following the sale, the director now owns 30,703 shares of the company’s stock, valued at $3,314,695.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 228,536 shares of company stock valued at $17,336,317. 5.70% of the stock is owned by company insiders.
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. The ex-dividend date is Thursday, July 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.25%. Graco’s payout ratio is 92.90%.
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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