Graco Inc. (NYSE:GGG) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Graco Inc. (NYSE:GGG) have earned an average rating of “Hold” from the ten brokerages that are currently covering the company. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $82.71.
GGG has been the topic of a number of research analyst reports. Deutsche Bank AG initiated coverage on shares of Graco in a report on Tuesday, September 6th. They issued a “hold” rating and a $83.00 price target on the stock. Zacks Investment Research upgraded shares of Graco from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. KeyCorp initiated coverage on shares of Graco in a report on Wednesday, May 25th. They issued a “sector weight” rating on the stock. Finally, William Blair lowered shares of Graco from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $89.00 to $78.00 in a report on Thursday, July 21st.
In related news, insider Patrick J. Mchale sold 11,500 shares of Graco stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $74.19, for a total transaction of $853,185.00. Following the transaction, the insider now owns 142,230 shares in the company, valued at approximately $10,552,043.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Creative Planning increased its stake in Graco by 13.9% in the second quarter. Creative Planning now owns 1,354 shares of the company’s stock valued at $107,000 after buying an additional 165 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in Graco by 0.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,584 shares of the company’s stock valued at $135,000 after buying an additional 12 shares during the period. Tower Research Capital LLC TRC increased its stake in Graco by 292.6% in the second quarter. Tower Research Capital LLC TRC now owns 2,336 shares of the company’s stock valued at $185,000 after buying an additional 1,741 shares during the period. Fifth Third Bancorp increased its stake in Graco by 4.6% in the second quarter. Fifth Third Bancorp now owns 2,476 shares of the company’s stock valued at $196,000 after buying an additional 110 shares during the period. Finally, Princeton Alpha Management LP purchased a new stake in Graco during the second quarter valued at about $204,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.
Graco (NYSE:GGG) opened at 73.41 on Tuesday. The company has a 50-day moving average price of $74.11 and a 200 day moving average price of $79.16. Graco has a 12-month low of $63.05 and a 12-month high of $86.62. The stock has a market cap of $4.09 billion, a price-to-earnings ratio of 21.64 and a beta of 1.54.
Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.89 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.11. The company earned $348.10 million during the quarter, compared to analyst estimates of $352.49 million. Graco had a net margin of 15.01% and a return on equity of 30.04%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 EPS. On average, equities research analysts predict that Graco will post $3.37 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Monday, October 17th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.80%. Graco’s payout ratio is 38.94%.
Graco Company Profile
Graco Inc (Graco) is a manufacturing company. The Company designs, manufactures and markets equipment to pump, meter, mix and dispense fluid and powder materials. The Company operates through three segments: Industrial, Process and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.
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