Zacks: Analysts Expect Graco Inc. (GGG) Will Announce Quarterly Sales of $366.99 Million
Brokerages predict that Graco Inc. (NYSE:GGG) will announce $366.99 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued 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 reported sales of $349.06 million during the same quarter last year, which indicates a positive year over year growth rate of 5.1%. The firm is expected to report its next earnings report on Monday, January 29th.
On average, analysts expect that Graco will report full-year sales of $366.99 million for the current fiscal year, with estimates ranging from $1.46 billion to $1.48 billion. For the next year, analysts expect that the business will report sales of $1.54 billion per share, with estimates ranging from $1.53 billion to $1.57 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Graco.
Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.09. The business had revenue of $379.81 million during the quarter, compared to analyst estimates of $356.30 million. Graco had a return on equity of 42.05% and a net margin of 7.72%. Graco’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 EPS.
GGG has been the subject of several research reports. SunTrust Banks, Inc. reissued a “hold” rating and issued a $128.00 target price on shares of Graco in a research report on Friday, October 27th. KeyCorp reaffirmed a “hold” rating on shares of Graco in a research report on Friday, October 20th. BidaskClub downgraded Graco from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Wolfe Research upgraded Graco from an “underperform” rating to a “peer perform” rating and set a $100.00 target price on the stock in a research note on Monday, July 31st. Finally, Robert W. Baird reiterated a “hold” rating and set a $135.00 target price on shares of Graco in a research note on Friday, October 27th. Eleven investment analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average target price of $116.75.
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In related news, insider Daniel Stolyarov sold 500,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $0.11, for a total value of $55,000.00. Also, VP David M. Ahlers sold 22,500 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $120.01, for a total transaction of $2,700,225.00. Following the completion of the transaction, the vice president now directly owns 42,047 shares of the company’s stock, valued at approximately $5,046,060.47. The disclosure for this sale can be found here. Insiders have sold 671,116 shares of company stock valued at $11,481,627 in the last 90 days. Company insiders own 5.70% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Koch Industries Inc. acquired a new position in shares of Graco during the second quarter worth $582,000. Janus Henderson Group PLC acquired a new position in shares of Graco during the second quarter worth $33,167,000. Fiera Capital Corp increased its position in shares of Graco by 7.3% during the second quarter. Fiera Capital Corp now owns 3,021,561 shares of the industrial products company’s stock worth $330,196,000 after purchasing an additional 206,130 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Graco by 109.4% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 341,998 shares of the industrial products company’s stock worth $37,374,000 after purchasing an additional 178,687 shares in the last quarter. Finally, FMR LLC acquired a new position in shares of Graco during the second quarter worth $16,392,000. 86.81% of the stock is owned by institutional investors.
Graco (NYSE GGG) opened at $130.17 on Friday. Graco has a 52-week low of $78.60 and a 52-week high of $134.11. The company has a market capitalization of $7,306.44, a P/E ratio of 28.42, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The company has a current ratio of 2.23, a quick ratio of 1.46 and a debt-to-equity ratio of 0.31.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Monday, October 16th were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, October 13th. This represents a $1.44 annualized dividend and a yield of 1.11%. Graco’s dividend payout ratio is currently 75.79%.
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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