Graco Inc. (NYSE:GGG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Graco Inc. (NYSE:GGG) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $96.50.

Several equities analysts have recently commented on GGG shares. Robert W. Baird set a $96.00 target price on shares of Graco in a research report on Wednesday, January 28th. Jefferies Financial Group increased their price target on shares of Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Royal Bank Of Canada lifted their price objective on shares of Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. DA Davidson restated a “neutral” rating and set a $85.00 target price on shares of Graco in a research note on Monday, February 2nd. Finally, Weiss Ratings upgraded Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th.

Insider Activity at Graco

In other Graco news, EVP Angela F. Wordell sold 2,832 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $93.22, for a total value of $263,999.04. Following the sale, the executive vice president owned 13,360 shares in the company, valued at $1,245,419.20. This trade represents a 17.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kathryn L. Schoenrock sold 2,223 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $88.06, for a total transaction of $195,757.38. Following the sale, the executive vice president directly owned 7,846 shares in the company, valued at approximately $690,918.76. The trade was a 22.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 19,394 shares of company stock worth $1,739,326 in the last 90 days. 2.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Graco

Hedge funds and other institutional investors have recently bought and sold shares of the company. Root Financial Partners LLC bought a new position in Graco in the third quarter valued at about $29,000. Assetmark Inc. grew its holdings in shares of Graco by 42.6% during the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 139 shares during the last quarter. CX Institutional grew its holdings in shares of Graco by 316.7% during the third quarter. CX Institutional now owns 475 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 361 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Graco by 982.6% in the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after buying an additional 452 shares during the period. Finally, Field & Main Bank bought a new position in Graco in the 4th quarter valued at approximately $41,000. Institutional investors own 93.88% of the company’s stock.

Graco Stock Performance

Shares of NYSE GGG opened at $85.24 on Thursday. The stock has a market capitalization of $14.13 billion, a P/E ratio of 27.59, a PEG ratio of 2.63 and a beta of 1.07. The stock’s fifty day moving average is $89.73 and its 200 day moving average is $85.34. Graco has a 52 week low of $72.06 and a 52 week high of $95.69.

Graco (NYSE:GGG) last posted its quarterly earnings data on Monday, January 26th. The industrial products company reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. The business had revenue of $593.16 million during the quarter, compared to analysts’ expectations of $591.99 million. Graco had a net margin of 23.33% and a return on equity of 19.49%. Graco’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 earnings per share. Equities research analysts forecast that Graco will post 3.06 earnings per share for the current year.

Graco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 6th. Investors of record on Monday, April 13th will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, April 13th. Graco’s dividend payout ratio is currently 38.19%.

Graco announced that its Board of Directors has initiated a stock repurchase plan on Friday, December 5th that authorizes the company to buyback 15,000,000 outstanding shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.