Zacks: Brokerages Expect Graco Inc. (GGG) Will Announce Quarterly Sales of $366.99 Million

Equities analysts expect Graco Inc. (NYSE:GGG) to post $366.99 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Graco’s earnings, with the lowest sales estimate coming in at $360.04 million and the highest estimate coming in at $374.90 million. Graco posted sales of $349.06 million during the same quarter last year, which suggests a positive year over year growth rate of 5.1%. The firm is scheduled to announce its next earnings report after the market closes on Monday, January 29th.

On average, analysts expect that Graco will report full year sales of $366.99 million for the current year, with estimates ranging from $1.46 billion to $1.48 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.55 billion per share, with estimates ranging from $1.53 billion to $1.57 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that follow Graco.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.38 EPS for the quarter, beating the 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 analysts’ expectations of $356.30 million. During the same quarter last year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis.

GGG has been the subject of several recent research reports. SunTrust Banks reaffirmed a “hold” rating and issued a $42.67 price target on shares of Graco in a report on Friday, October 27th. Zacks Investment Research cut Graco from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. ValuEngine cut Graco from a “buy” rating to a “hold” rating in a report on Friday, December 1st. B. Riley reaffirmed a “hold” rating and issued a $46.67 price target on shares of Graco in a report on Wednesday, December 20th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 price target on shares of Graco in a report on Friday, October 27th. Thirteen investment analysts have rated the stock with a hold rating, Graco currently has a consensus rating of “Hold” and an average price target of $41.67.

In other Graco news, VP Mark W. Sheahan sold 30,000 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $131.31, for a total transaction of $3,939,300.00. Following the completion of the sale, the vice president now owns 49,538 shares of the company’s stock, valued at $6,504,834.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Karen Park Gallivan sold 27,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $46.67, for a total value of $1,260,090.00. Following the sale, the vice president now directly owns 72,305 shares of the company’s stock, valued at approximately $3,374,474.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 681,252 shares of company stock valued at $18,239,770. 5.70% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the business. Ballentine Partners LLC acquired a new stake in Graco during the third quarter worth $210,000. Boston Private Wealth LLC acquired a new stake in shares of Graco in the third quarter valued at $210,000. Janney Montgomery Scott LLC acquired a new stake in shares of Graco in the third quarter valued at $223,000. CIBC Asset Management Inc acquired a new stake in shares of Graco in the third quarter valued at $234,000. Finally, Parallax Volatility Advisers L.P. grew its stake in shares of Graco by 127.0% in the second quarter. Parallax Volatility Advisers L.P. now owns 1,918 shares of the industrial products company’s stock valued at $210,000 after buying an additional 1,073 shares in the last quarter. 29.92% of the stock is owned by institutional investors.

Graco (NYSE:GGG) traded up $0.86 during trading hours on Monday, hitting $47.92. The company had a trading volume of 531,000 shares, compared to its average volume of 676,985. Graco has a 12-month low of $28.60 and a 12-month high of $47.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.46 and a current ratio of 2.23. The firm has a market capitalization of $8,069.25, a PE ratio of 75.66, a PEG ratio of 2.86 and a beta of 1.23.

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

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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.

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Earnings History and Estimates for Graco (NYSE:GGG)

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