Graco (GGG) Stock Rating Upgraded by Zacks Investment Research

Graco (NYSE:GGG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

According to Zacks, “Graco Inc., together with its subsidiaries, designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. It operates through three segments: Industrial, Process, and Contractor. The Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators etc. The Process segment offers pumps that move chemicals, water, wastewater, petroleum, food, and other fluids; pressure valves used in the oil and natural gas industry, other industrial processes, and research facilities etc. The Contractor segment offers sprayers that apply paint and texture to walls, other structures, and ceilings; and highly viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors. “

Several other brokerages also recently issued reports on GGG. B. Riley restated a “neutral” rating on shares of Graco in a research report on Wednesday, November 1st. ValuEngine downgraded Graco from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. KeyCorp restated a “hold” rating on shares of Graco in a research report on Friday, October 20th. Royal Bank of Canada restated a “hold” rating and set a $49.00 price objective on shares of Graco in a research report on Thursday. Finally, Oppenheimer restated a “hold” rating on shares of Graco in a research report on Thursday, December 28th. Thirteen analysts have rated the stock with a hold rating, Graco has an average rating of “Hold” and a consensus price target of $41.67.

Graco (GGG) traded up $0.42 during mid-day trading on Thursday, hitting $46.33. 1,001,384 shares of the stock were exchanged, compared to its average volume of 861,633. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.46 and a current ratio of 2.23. Graco has a 52 week low of $27.49 and a 52 week high of $46.70. The firm has a market cap of $2,600.00, a P/E ratio of 74.73, a price-to-earnings-growth ratio of 2.74 and a beta of 1.24.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.03. Graco had a return on equity of 42.05% and a net margin of 7.72%. The firm 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 firm posted $0.32 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. equities research analysts expect that Graco will post 1.45 earnings per share for the current year.

In other Graco news, VP Mark W. Sheahan sold 30,000 shares of the business’s stock in a transaction on 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 transaction, the vice president now directly owns 49,538 shares in the company, valued at approximately $6,504,834.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christian E. Rothe sold 12,750 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $132.01, for a total value of $1,683,127.50. Following the completion of the transaction, the chief financial officer now owns 16,905 shares of the company’s stock, valued at $2,231,629.05. The disclosure for this sale can be found here. Insiders sold a total of 734,752 shares of company stock valued at $18,245,690 over the last quarter. 5.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC raised its holdings in Graco by 6.6% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 655,299 shares of the industrial products company’s stock valued at $81,054,000 after acquiring an additional 40,284 shares during the last quarter. Burgundy Asset Management Ltd. raised its holdings in Graco by 2.3% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 539,482 shares of the industrial products company’s stock valued at $66,729,000 after acquiring an additional 11,896 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Graco by 4.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 108,820 shares of the industrial products company’s stock valued at $13,460,000 after acquiring an additional 5,072 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Graco in the 3rd quarter valued at $1,380,000. Finally, California Public Employees Retirement System raised its holdings in Graco by 5.5% in the 3rd quarter. California Public Employees Retirement System now owns 166,717 shares of the industrial products company’s stock valued at $20,621,000 after acquiring an additional 8,717 shares during the last quarter. Institutional investors own 86.24% of the company’s stock.

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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.

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