Graco Inc. (NYSE:GGG) Receives Average Recommendation of “Hold” from Brokerages

Graco Inc. (NYSE:GGG) has received a consensus rating of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $94.25.

Several brokerages have issued reports on GGG. DA Davidson reaffirmed a “neutral” rating and issued a $85.00 target price on shares of Graco in a report on Monday, April 27th. Robert W. Baird decreased their target price on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, April 24th. Weiss Ratings cut shares of Graco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 29th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $95.00 target price on shares of Graco in a report on Friday, April 24th.

Graco Price Performance

Shares of NYSE GGG opened at $73.87 on Tuesday. Graco has a 1 year low of $73.56 and a 1 year high of $95.69. The stock has a market cap of $12.26 billion, a P/E ratio of 24.06, a price-to-earnings-growth ratio of 2.43 and a beta of 0.93. The firm has a 50-day moving average of $81.44 and a 200 day moving average of $84.69.

Graco (NYSE:GGG) last issued its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.09). The business had revenue of $540.14 million for the quarter, compared to analysts’ expectations of $561.35 million. Graco had a net margin of 22.96% and a return on equity of 18.66%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the business earned $0.70 earnings per share. Research analysts expect that Graco will post 3.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Graco

In related news, Director Andrea Helen Simon acquired 1,240 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was purchased at an average cost of $80.53 per share, with a total value of $99,857.20. Following the completion of the acquisition, the director directly owned 1,240 shares of the company’s stock, valued at approximately $99,857.20. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GGG. Cassaday & Co Wealth Management LLC purchased a new position in shares of Graco during the first quarter valued at approximately $26,000. Whipplewood Advisors LLC grew its position in Graco by 2,650.0% during the first quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company’s stock valued at $28,000 after buying an additional 318 shares during the period. Essential Partners LLC grew its position in Graco by 78.6% during the first quarter. Essential Partners LLC now owns 359 shares of the industrial products company’s stock valued at $30,000 after buying an additional 158 shares during the period. Assetmark Inc. grew its position in Graco by 42.6% during the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after buying an additional 139 shares during the period. Finally, Field & Main Bank bought a new stake in Graco during the fourth quarter valued at approximately $41,000. 93.88% of the stock is owned by hedge funds and other institutional investors.

About Graco

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.