Somewhat Favorable News Coverage Somewhat Unlikely to Impact Graco (GGG) Share Price
Media stories about Graco (NYSE:GGG) have been trending somewhat positive this week, Accern reports. The research group identifies positive and negative news coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Graco earned a news impact score of 0.07 on Accern’s scale. Accern also assigned media coverage about the industrial products company an impact score of 45.7711295427412 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the headlines that may have effected Accern Sentiment’s analysis:
- Zacks: Brokerages Expect Graco Inc. (GGG) Will Announce Quarterly Sales of $355.12 Million (americanbankingnews.com)
- Graco Inc. Announces Third Quarter 2017 Earnings Conference Call (finance.yahoo.com)
- Eric Etchart Sells 759 Shares of Graco Inc. (GGG) Stock (americanbankingnews.com)
- $1.05 Earnings Per Share Expected for Graco Inc. (GGG) This Quarter (americanbankingnews.com)
A number of research analysts recently issued reports on GGG shares. BidaskClub upgraded shares of Graco from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a research report on Monday, July 31st. Royal Bank Of Canada restated a “hold” rating on shares of Graco in a research report on Friday, July 28th. Robert W. Baird restated a “hold” rating and set a $129.00 price objective on shares of Graco in a research report on Wednesday. Finally, Wolfe Research restated a “market perform” rating on shares of Graco in a research report on Tuesday, August 1st. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Graco currently has a consensus rating of “Hold” and an average target price of $110.00.
Shares of Graco (NYSE GGG) opened at 124.92 on Friday. The stock has a market cap of $6.99 billion, a P/E ratio of 79.26 and a beta of 1.25. The stock’s 50 day moving average is $118.49 and its 200 day moving average is $109.72. Graco has a 12 month low of $69.33 and a 12 month high of $125.55.
Graco (NYSE:GGG) last released its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.32. The company had revenue of $379.50 million during the quarter, compared to analysts’ expectations of $369.36 million. Graco had a return on equity of 40.21% and a net margin of 6.50%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 EPS. Analysts predict that Graco will post $4.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 16th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, October 13th. Graco’s dividend payout ratio (DPR) is currently 92.90%.
In other news, VP Karen Park Gallivan sold 12,242 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $1,407,830.00. Following the completion of the transaction, the vice president now directly owns 27,264 shares in the company, valued at approximately $3,135,360. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Eric Etchart sold 759 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $124.90, for a total value of $94,799.10. Following the transaction, the director now owns 11,983 shares of the company’s stock, valued at $1,496,676.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,258 shares of company stock valued at $7,758,309. Company insiders own 5.70% of the company’s stock.
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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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