Graco Inc. (GGG) Upgraded by BidaskClub to “Buy”
Graco Inc. (NYSE:GGG) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Friday.
A number of other equities research analysts also recently weighed in on GGG. Royal Bank Of Canada reissued a “hold” rating and set a $104.00 target price on shares of Graco in a report on Friday, April 28th. TheStreet raised Graco from a “c+” rating to a “b+” rating in a report on Thursday, April 27th. Deutsche Bank AG reissued a “hold” rating and set a $110.00 target price (up previously from $105.00) on shares of Graco in a report on Monday, June 5th. Zacks Investment Research downgraded Graco from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Finally, Wolfe Research started coverage on Graco in a report on Tuesday, July 11th. They set an “underperform” rating and a $100.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $106.20.
Graco (NYSE:GGG) traded down 0.90% during trading on Friday, reaching $112.37. 162,979 shares of the company traded hands. Graco has a 12 month low of $69.33 and a 12 month high of $116.75. The company’s 50-day moving average is $111.29 and its 200 day moving average is $103.25. The company has a market cap of $6.29 billion, a PE ratio of 71.30 and a beta of 1.25.
Graco (NYSE:GGG) last posted its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.32. Graco had a return on equity of 40.21% and a net margin of 6.50%. The company had revenue of $379.50 million during the quarter, compared to the consensus estimate of $369.36 million. During the same quarter last year, the firm earned $0.89 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. On average, analysts anticipate that Graco will post $4.53 earnings per share for the current year.
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In related news, VP Karen Park Gallivan sold 12,242 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $115.00, for a total value of $1,407,830.00. Following the completion of the transaction, the vice president now owns 27,264 shares of the company’s stock, valued at $3,135,360. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eric Etchart sold 793 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $113.90, for a total value of $90,322.70. Following the completion of the transaction, the director now directly owns 11,224 shares of the company’s stock, valued at approximately $1,278,413.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 119,021 shares of company stock valued at $6,483,384. 5.70% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Graco by 2.1% in the second quarter. Vanguard Group Inc. now owns 4,991,585 shares of the industrial products company’s stock worth $545,481,000 after buying an additional 104,725 shares during the period. BlackRock Inc. increased its position in Graco by 1.0% in the second quarter. BlackRock Inc. now owns 4,414,343 shares of the industrial products company’s stock worth $482,397,000 after buying an additional 43,669 shares during the period. Fiera Capital Corp increased its position in Graco by 7.3% in the second quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock worth $330,196,000 after buying an additional 206,130 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in Graco by 2.3% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,024,638 shares of the industrial products company’s stock worth $190,600,000 after buying an additional 46,205 shares during the period. Finally, State Street Corp increased its position in Graco by 3.2% in the first quarter. State Street Corp now owns 1,465,590 shares of the industrial products company’s stock worth $137,974,000 after buying an additional 45,636 shares during the period. 90.10% of the stock is owned by institutional investors and hedge funds.
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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