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

Graco Inc. (NYSE:GGG) has been given an average recommendation of “Hold” by the six ratings firms that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $47.50.

Several equities analysts recently commented on GGG shares. Robert W. Baird boosted their target price on Graco from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Royal Bank of Canada reduced their target price on Graco from $47.00 to $43.00 and set a “sector perform” rating for the company in a research report on Friday, April 24th. DA Davidson reduced their target price on Graco from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, April 21st. Finally, ValuEngine upgraded Graco from a “sell” rating to a “hold” rating in a research report on Thursday, April 2nd.

Shares of NYSE:GGG traded down $0.50 during midday trading on Tuesday, reaching $48.21. 673,230 shares of the company traded hands, compared to its average volume of 705,099. The company has a quick ratio of 2.44, a current ratio of 3.36 and a debt-to-equity ratio of 0.39. Graco has a 12 month low of $38.43 and a 12 month high of $56.99. The firm has a market capitalization of $8.03 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 4.47 and a beta of 0.57. The firm’s fifty day moving average price is $45.92 and its two-hundred day moving average price is $49.31.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, April 22nd. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.06). Graco had a net margin of 20.43% and a return on equity of 31.40%. The company had revenue of $373.60 million for the quarter, compared to the consensus estimate of $386.49 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. Analysts forecast that Graco will post 1.35 earnings per share for the current year.

In other news, Director Martha A. M. Morfitt sold 45,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $47.00, for a total value of $2,115,000.00. Following the completion of the transaction, the director now directly owns 241,869 shares in the company, valued at approximately $11,367,843. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.12% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC boosted its holdings in Graco by 2,476.2% during the 1st quarter. FMR LLC now owns 126,183 shares of the industrial products company’s stock valued at $6,249,000 after acquiring an additional 121,285 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Graco by 19.7% during the 4th quarter. Janney Montgomery Scott LLC now owns 51,817 shares of the industrial products company’s stock valued at $2,695,000 after acquiring an additional 8,540 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Graco by 3.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,246 shares of the industrial products company’s stock valued at $585,000 after acquiring an additional 377 shares during the period. Strs Ohio boosted its holdings in Graco by 79.7% during the 4th quarter. Strs Ohio now owns 14,269 shares of the industrial products company’s stock valued at $741,000 after acquiring an additional 6,327 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in Graco by 1.4% during the 4th quarter. State of Michigan Retirement System now owns 49,100 shares of the industrial products company’s stock valued at $2,553,000 after acquiring an additional 700 shares during the period. Hedge funds and other institutional investors own 85.19% of the company’s stock.

About Graco

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies division, Industrial Products division and Process division.

See Also: Liquidity

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