Graco Inc. (GGG) Stock Rating Lowered by Zacks Investment Research
Graco Inc. (NYSE:GGG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
According to Zacks, “Graco Inc. supplies technology and expertise for the management of fluids in both industrial and commercial settings. Based in Minneapolis, Minnesota, Graco serves customers around the world in the manufacturing, processing, construction and maintenance industries. It designs, manu-factures and markets systems and equipment to move, measure, control, dispense and apply fluid materials. The Company helps customers solve difficult manufacturing problems, increase productivity, improve quality, conserve energy, and save expensive materials. “
Several other research analysts also recently commented on the stock. Wolfe Research initiated coverage on shares of Graco in a research report on Tuesday, July 11th. They set an “underperform” rating and a $100.00 price objective for the company. FBR & Co restated a “marketperform” rating on shares of Graco in a research report on Tuesday, July 11th. SunTrust Banks, Inc. restated a “hold” rating and set a $128.00 price objective on shares of Graco in a research report on Friday, October 27th. BidaskClub downgraded shares of Graco from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Finally, KeyCorp restated a “hold” rating on shares of Graco in a research report on Friday, October 20th. Ten equities research analysts have rated the stock with a hold rating, Graco presently has an average rating of “Hold” and an average price target of $116.75.
Shares of Graco (NYSE:GGG) traded up $1.62 on Friday, reaching $132.11. 174,878 shares of the company’s stock traded hands, compared to its average volume of 262,428. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 2.87 and a beta of 1.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.23 and a quick ratio of 1.46.
Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.06 by $0.09. Graco had a net margin of 7.72% and a return on equity of 42.05%. The business had revenue of $379.81 million during the quarter, compared to the consensus estimate of $356.30 million. During the same period in the previous year, the business earned $0.95 earnings per share. The company’s revenue was up 16.1% on a year-over-year basis. research analysts predict that Graco will post 4.36 earnings per share for the current year.
In other Graco news, Director Eric Etchart sold 757 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $119.20, for a total transaction of $90,234.40. Following the sale, the director now owns 12,464 shares of the company’s stock, valued at $1,485,708.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lee R. Mitau sold 8,600 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $131.18, for a total transaction of $1,128,148.00. Following the sale, the director now directly owns 67,404 shares in the company, valued at approximately $8,842,056.72. The disclosure for this sale can be found here. In the last three months, insiders sold 171,116 shares of company stock worth $11,426,627. 5.70% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in GGG. Assetmark bought a new position in shares of Graco during the 3rd quarter worth about $0. Creative Planning boosted its position in shares of Graco by 4.4% during the 3rd quarter. Creative Planning now owns 1,413 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 59 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Graco by 106.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock worth $123,000 after purchasing an additional 578 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Graco during the 3rd quarter worth about $126,000. Finally, Mosaic Family Wealth LLC boosted its position in shares of Graco by 13.0% during the 3rd quarter. Mosaic Family Wealth LLC now owns 1,727 shares of the industrial products company’s stock worth $128,000 after purchasing an additional 199 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.
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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