Graco Inc. (NYSE:GGG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Graco Inc. (NYSE:GGG) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $96.50.

Several equities research analysts have weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Graco from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, January 28th. Royal Bank Of Canada boosted their target price on Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, January 28th. Robert W. Baird set a $96.00 price target on Graco in a report on Wednesday, January 28th. DA Davidson reissued a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research note on Monday, February 2nd. Finally, Weiss Ratings raised Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, February 5th.

Insider Buying and Selling at Graco

In other Graco news, EVP Angela F. Wordell sold 2,832 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $93.22, for a total transaction of $263,999.04. Following the completion of the sale, the executive vice president directly owned 13,360 shares of the company’s stock, valued at approximately $1,245,419.20. The trade was a 17.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Timothy R. White sold 1,469 shares of Graco stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $90.70, for a total value of $133,238.30. Following the transaction, the insider directly owned 51,430 shares in the company, valued at approximately $4,664,701. The trade was a 2.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 19,394 shares of company stock worth $1,739,326. 2.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in GGG. Root Financial Partners LLC purchased a new position in Graco during the third quarter worth about $29,000. NewSquare Capital LLC boosted its stake in shares of Graco by 320.7% in the 2nd quarter. NewSquare Capital LLC now owns 345 shares of the industrial products company’s stock worth $30,000 after buying an additional 263 shares during the last quarter. CX Institutional boosted its stake in shares of Graco by 316.7% in the 3rd quarter. CX Institutional now owns 475 shares of the industrial products company’s stock worth $40,000 after buying an additional 361 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Graco by 42.6% in the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 139 shares in the last quarter. Finally, Field & Main Bank purchased a new stake in shares of Graco during the fourth quarter valued at approximately $41,000. 93.88% of the stock is owned by institutional investors.

Graco Stock Performance

Shares of GGG opened at $92.97 on Friday. The firm has a market cap of $15.37 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 2.92 and a beta of 1.08. Graco has a 52-week low of $72.06 and a 52-week high of $95.69. The business’s 50 day moving average price is $87.31 and its two-hundred day moving average price is $84.76.

Graco (NYSE:GGG) last released its quarterly earnings data on Monday, January 26th. The industrial products company reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. Graco had a net margin of 23.33% and a return on equity of 19.49%. The company had revenue of $593.16 million during the quarter, compared to analyst estimates of $591.99 million. During the same quarter in the previous year, the business posted $0.64 EPS. Graco’s revenue for the quarter was up 8.1% compared to the same quarter last year. Research analysts predict that Graco will post 3.06 EPS for the current fiscal year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Monday, April 13th will be paid a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, April 13th. Graco’s payout ratio is 38.19%.

Graco announced that its board has approved a stock repurchase program on Friday, December 5th that allows the company to buyback 15,000,000 shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.