Graco (GGG) Given Neutral Rating at DA Davidson

DA Davidson reiterated their neutral rating on shares of Graco (NYSE:GGG) in a research report sent to investors on Thursday, Zacks.com reports. DA Davidson also issued estimates for Graco’s Q3 2019 earnings at $0.55 EPS, Q4 2019 earnings at $0.46 EPS and Q3 2020 earnings at $0.58 EPS.

Several other research analysts have also weighed in on the company. Zacks Investment Research lowered Graco from a buy rating to a hold rating in a research report on Friday, February 1st. Seaport Global Securities reaffirmed a hold rating on shares of Graco in a research report on Wednesday, January 30th. Jefferies Financial Group started coverage on Graco in a research report on Friday, January 25th. They set a hold rating and a $46.00 price target on the stock. Royal Bank of Canada reaffirmed a hold rating and set a $46.00 price target on shares of Graco in a research report on Wednesday, January 30th. Finally, ValuEngine raised Graco from a sell rating to a hold rating in a research report on Monday, February 4th. Eight equities research analysts have rated the stock with a hold rating, The company currently has an average rating of Hold and an average price target of $46.20.

Graco stock traded up $0.61 during midday trading on Thursday, reaching $51.48. The stock had a trading volume of 529,519 shares, compared to its average volume of 511,920. Graco has a 1-year low of $37.36 and a 1-year high of $53.91. The firm has a market cap of $8.57 billion, a PE ratio of 27.38, a P/E/G ratio of 2.62 and a beta of 0.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.47 and a current ratio of 2.07.

Graco (NYSE:GGG) last announced its earnings results on Wednesday, April 24th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.02). Graco had a net margin of 20.72% and a return on equity of 41.51%. The firm had revenue of $404.90 million during the quarter, compared to analyst estimates of $415.70 million. During the same period in the prior year, the business posted $0.48 EPS. The firm’s quarterly revenue was down .3% compared to the same quarter last year. As a group, equities research analysts predict that Graco will post 2.01 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Friday, April 12th. Graco’s dividend payout ratio (DPR) is 34.04%.

In other news, VP Angela F. Wordell sold 2,500 shares of Graco stock in a transaction that occurred on Tuesday, February 5th. The stock was sold at an average price of $43.63, for a total transaction of $109,075.00. Following the completion of the transaction, the vice president now directly owns 10,802 shares in the company, valued at approximately $471,291.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karen Park Gallivan sold 27,900 shares of Graco stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $50.00, for a total value of $1,395,000.00. Following the transaction, the insider now owns 75,293 shares of the company’s stock, valued at $3,764,650. The disclosure for this sale can be found here. Insiders have sold a total of 322,938 shares of company stock worth $15,347,569 in the last ninety days. Insiders own 4.23% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Graco by 0.5% during the 4th quarter. BlackRock Inc. now owns 14,726,158 shares of the industrial products company’s stock worth $616,289,000 after acquiring an additional 77,882 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Graco by 16.6% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,120,002 shares of the industrial products company’s stock worth $297,973,000 after acquiring an additional 1,011,052 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Graco by 4,085.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,782,062 shares of the industrial products company’s stock worth $66,000 after acquiring an additional 2,715,585 shares during the period. Confluence Investment Management LLC boosted its stake in shares of Graco by 8.1% during the 4th quarter. Confluence Investment Management LLC now owns 2,300,633 shares of the industrial products company’s stock worth $96,281,000 after acquiring an additional 172,923 shares during the period. Finally, WCM Investment Management LLC boosted its stake in shares of Graco by 6.7% during the 4th quarter. WCM Investment Management LLC now owns 1,718,507 shares of the industrial products company’s stock worth $71,920,000 after acquiring an additional 107,239 shares during the period. Institutional investors own 85.70% of the company’s stock.

Graco Company Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.

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Analyst Recommendations for Graco (NYSE:GGG)

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