Q3 2017 EPS Estimates for Graco Inc. Lifted by Analyst (GGG)
Graco Inc. (NYSE:GGG) – KeyCorp boosted their Q3 2017 earnings estimates for shares of Graco in a report released on Tuesday. KeyCorp analyst J. Hammond now expects that the industrial products company will post earnings per share of $1.04 for the quarter, up from their prior estimate of $1.03. KeyCorp also issued estimates for Graco’s Q4 2017 earnings at $1.05 EPS.
Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.32. The firm had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. Graco had a return on equity of 40.21% and a net margin of 6.50%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 EPS.
Several other brokerages also recently commented on GGG. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 target price on the stock in a report on Monday, July 31st. TheStreet upgraded shares of Graco from a “c+” rating to a “b+” rating in a report on Thursday, April 27th. Wolfe Research upgraded shares of Graco from an “underperform” rating to a “peer perform” rating and set a $100.00 target price on the stock in a report on Monday, July 31st. Royal Bank Of Canada reiterated a “hold” rating and issued a $104.00 target price on shares of Graco in a report on Friday, April 28th. Finally, FBR & Co reiterated a “marketperform” rating on shares of Graco in a report on Tuesday, July 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $106.20.
Graco (NYSE GGG) opened at 115.58 on Thursday. The firm has a 50-day moving average of $111.12 and a 200-day moving average of $103.01. Graco has a 52-week low of $69.33 and a 52-week high of $116.75. The stock has a market capitalization of $6.47 billion, a PE ratio of 73.34 and a beta of 1.25.
A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Graco by 13,639.9% in the first quarter. BlackRock Inc. now owns 4,370,674 shares of the industrial products company’s stock valued at $411,455,000 after buying an additional 4,338,864 shares in the last quarter. Koch Industries Inc. bought a new stake in Graco during the second quarter valued at about $582,000. Parametric Portfolio Associates LLC raised its stake in Graco by 168.2% in the first quarter. Parametric Portfolio Associates LLC now owns 649,333 shares of the industrial products company’s stock valued at $61,128,000 after buying an additional 407,245 shares in the last quarter. Vanguard Group Inc. raised its stake in Graco by 6.8% in the first quarter. Vanguard Group Inc. now owns 4,886,860 shares of the industrial products company’s stock valued at $460,049,000 after buying an additional 309,685 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new stake in Graco during the second quarter valued at about $33,167,000. Institutional investors own 90.10% of the company’s stock.
In other Graco news, VP Jeffrey P. Johnson sold 28,000 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $113.00, for a total value of $3,164,000.00. Following the sale, the vice president now directly owns 42,213 shares in the company, valued at approximately $4,770,069. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Peter J. O’shea sold 15,986 shares of the firm’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $113.50, for a total transaction of $1,814,411.00. Following the completion of the sale, the vice president now owns 20,638 shares in the company, valued at $2,342,413. The disclosure for this sale can be found here. Insiders sold a total of 119,021 shares of company stock worth $6,483,384 in the last quarter. Insiders own 5.70% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Monday, July 17th were issued a $0.36 dividend. The ex-dividend date was Thursday, July 13th. This represents a $1.44 annualized dividend and a yield of 1.25%. Graco’s dividend payout ratio (DPR) is presently 92.90%.
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.
Receive News & Ratings for Graco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.