KeyCorp Weighs in on Graco Inc.’s FY2017 Earnings (GGG)

Graco Inc. (NYSE:GGG) – Investment analysts at KeyCorp raised their FY2017 earnings estimates for Graco in a research note issued on Thursday. KeyCorp analyst J. Hammond now anticipates that the industrial products company will post earnings of $1.47 per share for the year, up from their previous estimate of $1.45. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for Graco’s Q4 2017 earnings at $0.36 EPS and FY2018 earnings at $1.80 EPS.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The firm had revenue of $379.81 million during the quarter, compared to analysts’ expectations of $356.30 million. Graco had a net margin of 7.72% and a return on equity of 42.05%. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share.

Other research analysts have also recently issued research reports about the stock. B. Riley restated a “neutral” rating on shares of Graco in a research note on Wednesday, November 1st. Robert W. Baird restated a “hold” rating and set a $43.00 price target on shares of Graco in a research note on Wednesday, October 4th. Zacks Investment Research upgraded shares of Graco from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. ValuEngine cut shares of Graco from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, SunTrust Banks reiterated a “hold” rating and issued a $42.67 target price on shares of Graco in a research note on Friday, October 27th. Thirteen analysts have rated the stock with a hold rating, Graco currently has a consensus rating of “Hold” and an average target price of $41.67.

Graco (NYSE GGG) opened at $47.92 on Monday. The company has a market cap of $8,069.25, a PE ratio of 75.66, a price-to-earnings-growth ratio of 2.90 and a beta of 1.23. 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 one year low of $28.60 and a one year high of $47.98.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Monday, January 22nd will be paid a $0.3975 dividend. The ex-dividend date is Friday, January 19th. This represents a $1.59 dividend on an annualized basis and a dividend yield of 3.32%. This is a boost from Graco’s previous quarterly dividend of $0.36. Graco’s payout ratio is 75.79%.

In related news, VP Mark W. Sheahan sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were 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 owns 49,538 shares in the company, valued at approximately $6,504,834.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Christian E. Rothe sold 12,750 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $132.01, for a total transaction 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 approximately $2,231,629.05. The disclosure for this sale can be found here. Insiders sold 681,252 shares of company stock valued at $18,239,770 in the last quarter. 5.70% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of GGG. Schroder Investment Management Group bought a new position in Graco in the 2nd quarter worth approximately $1,458,000. Franklin Resources Inc. raised its position in Graco by 24.6% in the 2nd quarter. Franklin Resources Inc. now owns 8,424 shares of the industrial products company’s stock worth $921,000 after purchasing an additional 1,664 shares during the last quarter. Alliancebernstein L.P. raised its position in Graco by 2.9% in the 2nd quarter. Alliancebernstein L.P. now owns 34,873 shares of the industrial products company’s stock worth $3,811,000 after purchasing an additional 970 shares during the last quarter. Teachers Advisors LLC raised its position in Graco by 41.7% in the 2nd quarter. Teachers Advisors LLC now owns 86,730 shares of the industrial products company’s stock worth $9,478,000 after purchasing an additional 25,531 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in Graco by 18.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 109,197 shares of the industrial products company’s stock worth $11,933,000 after purchasing an additional 17,334 shares during the last quarter. Hedge funds and other institutional investors own 29.68% of the company’s stock.

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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.

Earnings History and Estimates for Graco (NYSE:GGG)

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