Graco Inc. (NYSE:GGG) Downgraded by BidaskClub
Graco Inc. (NYSE:GGG) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Sunday.
Several other analysts have also recently commented on the stock. TheStreet upgraded shares of Graco from a “c+” rating to a “b+” rating in a research note on Thursday, April 27th. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Wednesday, April 5th. Royal Bank Of Canada reiterated a “hold” rating and issued a $104.00 price target on shares of Graco in a research note on Friday, April 28th. Deutsche Bank AG reiterated a “hold” rating and issued a $110.00 price target (up previously from $105.00) on shares of Graco in a research note on Monday, June 5th. Finally, Wolfe Research started coverage on shares of Graco in a research note on Tuesday, July 11th. They issued an “underperform” rating and a $100.00 price target on the stock. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $97.83.
Graco (GGG) traded down 0.15% on Friday, reaching $108.08. The company had a trading volume of 317,274 shares. The stock has a market capitalization of $6.00 billion, a PE ratio of 100.82 and a beta of 1.24. Graco has a 12-month low of $69.33 and a 12-month high of $114.65. The stock’s 50 day moving average price is $111.15 and its 200-day moving average price is $96.90.
Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, April 26th. The industrial products company reported $1.05 EPS for the quarter, topping the consensus estimate of $0.75 by $0.30. The business had revenue of $340.59 million for the quarter, compared to analysts’ expectations of $315.62 million. Graco had a net margin of 4.53% and a return on equity of 35.25%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.70 EPS. Equities analysts expect that Graco will post $4.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Thursday, July 13th. Graco’s dividend payout ratio is 135.85%.
In other news, Director Eric Etchart sold 576 shares of the company’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $96.78, for a total transaction of $55,745.28. Following the sale, the director now directly owns 8,693 shares in the company, valued at approximately $841,308.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian J. Zumbolo sold 25,500 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $108.25, for a total transaction of $2,760,375.00. Following the sale, the vice president now owns 26,719 shares in the company, valued at $2,892,331.75. The disclosure for this sale can be found here. Insiders have sold a total of 599,672 shares of company stock worth $16,059,788 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in shares of Graco by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 346,915 shares of the industrial products company’s stock valued at $28,826,000 after buying an additional 18,120 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Graco by 9.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,520 shares of the industrial products company’s stock valued at $791,000 after buying an additional 810 shares in the last quarter. Norges Bank acquired a new stake in shares of Graco during the fourth quarter valued at about $34,615,000. Teachers Advisors LLC boosted its stake in shares of Graco by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 58,189 shares of the industrial products company’s stock valued at $4,835,000 after buying an additional 2,950 shares in the last quarter. Finally, Park National Corp OH acquired a new stake in shares of Graco during the first quarter valued at about $203,000. Hedge funds and other institutional investors own 90.80% of the company’s stock.
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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