Research Analysts Offer Predictions for Graco Inc.’s Q2 2019 Earnings (GGG)

Graco Inc. (NYSE:GGG) – Analysts at William Blair boosted their Q2 2019 EPS estimates for shares of Graco in a research report issued on Thursday, April 25th. William Blair analyst N. Heymann now forecasts that the industrial products company will earn $0.54 per share for the quarter, up from their prior estimate of $0.53. William Blair also issued estimates for Graco’s Q3 2019 earnings at $0.55 EPS.

GGG has been the topic of several other reports. ValuEngine upgraded Graco from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Zacks Investment Research downgraded Graco from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. Jefferies Financial Group started coverage on Graco in a research report on Friday, January 25th. They issued a “hold” rating and a $46.00 price objective on the stock. Royal Bank of Canada restated a “hold” rating and issued a $46.00 price objective on shares of Graco in a research report on Wednesday, January 30th. Finally, DA Davidson restated a “neutral” rating on shares of Graco in a research report on Thursday. Eight analysts have rated the stock with a hold rating, Graco has an average rating of “Hold” and a consensus target price of $46.20.

Shares of NYSE:GGG opened at $51.48 on Monday. The company has a current ratio of 2.07, a quick ratio of 1.47 and a debt-to-equity ratio of 0.21. Graco has a 52-week low of $37.36 and a 52-week high of $53.91. The firm has a market capitalization of $8.57 billion, a PE ratio of 27.38, a P/E/G ratio of 2.62 and a beta of 0.98.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $404.90 million during the quarter, compared to analysts’ expectations of $415.70 million. During the same quarter in the prior year, the company earned $0.48 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year.

A number of institutional investors have recently added to or reduced their stakes in GGG. BB&T Corp increased its stake in Graco by 3.5% during the fourth quarter. BB&T Corp now owns 7,656 shares of the industrial products company’s stock worth $321,000 after acquiring an additional 259 shares during the last quarter. Naples Global Advisors LLC increased its stake in Graco by 5.1% during the fourth quarter. Naples Global Advisors LLC now owns 5,865 shares of the industrial products company’s stock worth $253,000 after acquiring an additional 285 shares during the last quarter. Eukles Asset Management increased its stake in Graco by 1.9% during the first quarter. Eukles Asset Management now owns 15,744 shares of the industrial products company’s stock worth $780,000 after acquiring an additional 287 shares during the last quarter. Stephens Inc. AR increased its stake in Graco by 6.6% during the fourth quarter. Stephens Inc. AR now owns 5,236 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 322 shares during the last quarter. Finally, Brinker Capital Inc. increased its stake in Graco by 1.0% during the fourth quarter. Brinker Capital Inc. now owns 35,329 shares of the industrial products company’s stock worth $1,479,000 after acquiring an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 85.70% of the company’s stock.

In related news, VP Angela F. Wordell sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $43.63, for a total value of $109,075.00. Following the completion of the transaction, the vice president now directly owns 10,802 shares in the company, valued at $471,291.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karen Park Gallivan sold 27,900 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $50.00, for a total value of $1,395,000.00. Following the completion of 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 sold 322,938 shares of company stock valued at $15,347,569 over the last quarter. Insiders own 4.23% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $0.64 annualized dividend and a yield of 1.24%. Graco’s payout ratio is currently 34.04%.

About Graco

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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Earnings History and Estimates for Graco (NYSE:GGG)

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