$355.12 Million in Sales Expected for Graco Inc. (GGG) This Quarter
Equities research analysts predict that Graco Inc. (NYSE:GGG) will announce sales of $355.12 million for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Graco’s earnings, with estimates ranging from $350.00 million to $360.20 million. Graco reported sales of $327.19 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.5%. The company is scheduled to report its next earnings report after the market closes on Wednesday, October 25th.
According to Zacks, analysts expect that Graco will report full-year sales of $355.12 million for the current fiscal year, with estimates ranging from $1.42 billion to $1.45 billion. For the next financial year, analysts expect that the company will post sales of $1.51 billion per share, with estimates ranging from $1.47 billion to $1.53 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Graco.
Graco (NYSE:GGG) last announced 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 net margin of 6.50% and a return on equity of 40.21%. The firm had revenue of $379.50 million for the quarter, compared to analyst estimates of $369.36 million. During the same quarter in the prior year, the business posted $0.89 EPS. The business’s revenue was up 9.0% compared to the same quarter last year.
Several analysts have recently issued reports on GGG shares. Deutsche Bank AG reissued a “hold” rating and issued a $110.00 price target (up previously from $105.00) on shares of Graco in a research report on Monday, June 5th. BidaskClub lowered shares of Graco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Wolfe Research raised shares of Graco from an “underperform” rating to a “peer perform” rating and set a $100.00 price target on the stock in a research report on Monday, July 31st. FBR & Co reissued a “marketperform” rating on shares of Graco in a research report on Tuesday, July 11th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $104.00 price target on shares of Graco in a research report on Monday, June 5th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Graco currently has an average rating of “Hold” and a consensus price target of $106.20.
In other news, VP Karen Park Gallivan sold 12,242 shares of the business’s stock in a transaction that occurred on 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 sale, 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 is accessible through the SEC website. Also, VP David M. Ahlers sold 22,500 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $120.01, for a total transaction of $2,700,225.00. Following the completion of the sale, the vice president now directly owns 42,047 shares in the company, valued at approximately $5,046,060.47. The disclosure for this sale can be found here. In the last three months, insiders sold 67,499 shares of company stock worth $7,663,509. Insiders own 5.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Graco by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,991,585 shares of the industrial products company’s stock worth $545,481,000 after acquiring an additional 104,725 shares during the period. BlackRock Inc. increased its holdings in Graco by 1.0% during the 2nd quarter. BlackRock Inc. now owns 4,414,343 shares of the industrial products company’s stock worth $482,397,000 after acquiring an additional 43,669 shares during the period. Fiera Capital Corp increased its holdings in Graco by 7.3% during the 2nd quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock worth $330,196,000 after acquiring an additional 206,130 shares during the period. State Street Corp increased its holdings in Graco by 3.2% during the 1st quarter. State Street Corp now owns 1,465,590 shares of the industrial products company’s stock worth $137,974,000 after acquiring an additional 45,636 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Graco by 36.5% during the 1st quarter. Bank of New York Mellon Corp now owns 940,408 shares of the industrial products company’s stock worth $88,531,000 after acquiring an additional 251,447 shares during the period. 86.85% of the stock is currently owned by institutional investors and hedge funds.
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Graco (NYSE GGG) opened at 119.91 on Friday. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of 76.09 and a beta of 1.24. The firm’s 50 day moving average is $114.70 and its 200-day moving average is $106.53. Graco has a 12 month low of $69.33 and a 12 month high of $121.40.
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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