Graco Inc. (GGG) Given Average Recommendation of “Hold” by Analysts
Shares of Graco Inc. (NYSE:GGG) have received a consensus rating of “Hold” from the eight research firms that are presently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $109.00.
A number of brokerages have issued reports on GGG. BidaskClub cut Graco from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Wolfe Research restated a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. Zacks Investment Research upgraded 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. Royal Bank Of Canada restated a “hold” rating on shares of Graco in a report on Friday, July 28th. Finally, FBR & Co restated a “marketperform” rating on shares of Graco in a report on Tuesday, July 11th.
Graco (NYSE GGG) opened at 113.13 on Wednesday. The firm’s 50-day moving average price is $111.77 and its 200 day moving average price is $104.07. Graco has a one year low of $69.33 and a one year high of $116.75. The firm has a market cap of $6.33 billion, a P/E ratio of 71.78 and a beta of 1.25.
Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share (EPS) 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 firm had revenue of $379.50 million for the quarter, compared to analysts’ expectations of $369.36 million. During the same quarter last year, the business earned $0.89 earnings per share. The company’s revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts forecast that Graco will post $4.53 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Thursday, July 13th. Graco’s dividend payout ratio (DPR) is currently 92.90%.
In other news, VP Jeffrey P. Johnson sold 28,000 shares of Graco stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $113.00, for a total transaction of $3,164,000.00. Following the transaction, the vice president now 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 available at the SEC website. Also, VP Karen Park Gallivan sold 12,242 shares of Graco stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $115.00, for a total value of $1,407,830.00. Following the transaction, the vice president now owns 27,264 shares in the company, valued at approximately $3,135,360. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,021 shares of company stock worth $6,476,784. Company insiders own 5.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley boosted its position in Graco by 12.3% in the first quarter. Morgan Stanley now owns 148,597 shares of the industrial products company’s stock valued at $13,989,000 after buying an additional 16,224 shares during the period. Capstone Asset Management Co. boosted its position in Graco by 2.5% in the second quarter. Capstone Asset Management Co. now owns 5,646 shares of the industrial products company’s stock valued at $617,000 after buying an additional 140 shares during the period. Credit Suisse AG boosted its position in Graco by 10.3% in the first quarter. Credit Suisse AG now owns 59,672 shares of the industrial products company’s stock valued at $5,616,000 after buying an additional 5,584 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Graco by 4.1% in the second quarter. Oregon Public Employees Retirement Fund now owns 21,001 shares of the industrial products company’s stock valued at $2,295,000 after buying an additional 828 shares during the period. Finally, Creative Planning boosted its position in Graco by 5.4% in the first quarter. Creative Planning now owns 1,496 shares of the industrial products company’s stock valued at $141,000 after buying an additional 76 shares during the period. Institutional investors and hedge funds own 86.81% of the company’s stock.
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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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