Graco’s (GGG) Hold Rating Reaffirmed at B. Riley

Graco (NYSE:GGG)‘s stock had its “hold” rating reissued by equities research analysts at B. Riley in a research note issued to investors on Wednesday. They currently have a $140.00 target price on the industrial products company’s stock. B. Riley’s price objective points to a potential upside of 4.13% from the stock’s current price.

Several other brokerages have also commented on GGG. Robert W. Baird restated a “hold” rating and set a $143.00 price target on shares of Graco in a research note on Friday, December 15th. FBR & Co set a $140.00 price target on Graco and gave the company a “hold” rating in a research note on Thursday, October 26th. BidaskClub lowered Graco from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. ValuEngine downgraded Graco from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Zacks Investment Research downgraded Graco from a “buy” rating to a “hold” rating in a research report on Friday, November 3rd. Twelve investment analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average target price of $120.22.

Graco (GGG) traded up $1.01 during midday trading on Wednesday, hitting $134.45. The stock had a trading volume of 278,200 shares, compared to its average volume of 277,986. The company has a market cap of $7,510.00, a P/E ratio of 29.14, a P/E/G ratio of 2.92 and a beta of 1.23. Graco has a 52-week low of $82.42 and a 52-week high of $136.49. The company has a quick ratio of 1.46, a current ratio of 2.23 and a debt-to-equity ratio of 0.31.

Shares of Graco are scheduled to split on Thursday, December 28th. The 3-1 split was announced on Friday, December 8th. The newly created shares will be distributed to shareholders after the closing bell on Wednesday, December 27th.

Graco (NYSE:GGG) last released its earnings results on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.09. Graco had a return on equity of 42.05% and a net margin of 7.72%. The business had revenue of $379.81 million for the quarter, compared to analyst estimates of $356.30 million. During the same quarter last year, the firm posted $0.95 earnings per share. The business’s revenue was up 16.1% compared to the same quarter last year. equities analysts expect that Graco will post 4.36 EPS for the current fiscal year.

In other Graco news, Director Eric Etchart sold 759 shares of the firm’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $124.90, for a total value of $94,799.10. Following the completion of the sale, the director now owns 11,983 shares of the company’s stock, valued at $1,496,676.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Mark W. Sheahan sold 30,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $131.31, for a total value of $3,939,300.00. Following the completion of the sale, the vice president now directly owns 49,538 shares of the company’s stock, valued at approximately $6,504,834.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 708,511 shares of company stock worth $17,080,399. 5.70% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Prudential Financial Inc. boosted its holdings in Graco by 19.0% in the second quarter. Prudential Financial Inc. now owns 327,738 shares of the industrial products company’s stock worth $35,816,000 after acquiring an additional 52,346 shares in the last quarter. BB&T Securities LLC boosted its holdings in Graco by 0.5% in the second quarter. BB&T Securities LLC now owns 6,930 shares of the industrial products company’s stock worth $757,000 after acquiring an additional 36 shares in the last quarter. Cardinal Capital Management boosted its holdings in Graco by 6.8% in the third quarter. Cardinal Capital Management now owns 7,621 shares of the industrial products company’s stock worth $942,000 after acquiring an additional 488 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Graco by 8.4% in the second quarter. JPMorgan Chase & Co. now owns 305,782 shares of the industrial products company’s stock worth $33,416,000 after acquiring an additional 23,718 shares in the last quarter. Finally, Chicago Equity Partners LLC acquired a new stake in Graco in the second quarter worth about $1,093,000. 86.24% of the stock is owned by institutional investors and hedge funds.

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About Graco

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.

Analyst Recommendations for Graco (NYSE:GGG)

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