Graco Inc. (NYSE:GGG) Receives $109.00 Consensus Target Price from Brokerages
Shares of Graco Inc. (NYSE:GGG) have earned an average rating of “Hold” from the eight research firms that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $109.00.
Several equities analysts have recently commented on GGG shares. Royal Bank Of Canada reaffirmed a “hold” rating and set a $89.00 target price on shares of Graco in a report on Tuesday, April 11th. TheStreet raised Graco from a “c+” rating to a “b+” rating in a report on Thursday, April 27th. Deutsche Bank AG reaffirmed a “hold” rating and set a $110.00 target price (up from $105.00) on shares of Graco in a report on Monday, June 5th. BidaskClub lowered Graco from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Finally, Zacks Investment Research lowered Graco from a “buy” rating to a “hold” rating in a report on Monday, July 10th.
In related news, Director Eric Etchart sold 793 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $113.90, for a total value of $90,322.70. Following the completion of the transaction, the director now directly owns 11,224 shares of the company’s stock, valued at approximately $1,278,413.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $1,407,830.00. Following the completion of the transaction, the vice president now directly owns 27,264 shares of the company’s stock, valued at $3,135,360. The disclosure for this sale can be found here. Insiders sold a total of 134,021 shares of company stock valued at $7,031,734 over the last three months. Corporate insiders own 5.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Graco by 6.8% in the first quarter. Vanguard Group Inc. now owns 4,886,860 shares of the industrial products company’s stock worth $460,049,000 after buying an additional 309,685 shares during the period. BlackRock Inc. increased its stake in Graco by 13,639.9% in the first quarter. BlackRock Inc. now owns 4,370,674 shares of the industrial products company’s stock worth $411,455,000 after buying an additional 4,338,864 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its stake in Graco by 2.3% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,024,638 shares of the industrial products company’s stock worth $190,600,000 after buying an additional 46,205 shares during the period. State Street Corp increased its stake in Graco by 3.2% in the first quarter. State Street Corp now owns 1,465,590 shares of the industrial products company’s stock worth $137,974,000 after buying an additional 45,636 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Graco by 36.5% in the first quarter. Bank of New York Mellon Corp now owns 940,408 shares of the industrial products company’s stock worth $88,531,000 after buying an additional 251,447 shares during the period. Hedge funds and other institutional investors own 90.30% of the company’s stock.
Graco (NYSE GGG) traded up 0.33% during mid-day trading on Friday, reaching $115.88. The company’s stock had a trading volume of 221,679 shares. Graco has a 52 week low of $69.33 and a 52 week high of $116.75. The firm has a 50-day moving average of $110.49 and a 200-day moving average of $101.35. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 73.53 and a beta of 1.25.
Graco (NYSE:GGG) last posted 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 analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 earnings per share. On average, equities research analysts expect that Graco will post $4.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Monday, July 17th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Thursday, July 13th. Graco’s dividend payout ratio (DPR) is 92.90%.
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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