Graco Inc. (NYSE:GGG) Stock Rating Reaffirmed by FBR & Co
Graco Inc. (NYSE:GGG)‘s stock had its “marketperform” rating reaffirmed by FBR & Co in a research note issued on Tuesday, July 11th. FBR & Co also issued estimates for Graco’s FY2017 earnings at $4.10 EPS and FY2018 earnings at $4.40 EPS.
Several other research analysts have also recently commented on the company. TheStreet raised Graco from a “c+” rating to a “b+” rating in a research note on Thursday, April 27th. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Wednesday, April 5th. Wolfe Research started coverage on Graco in a research report on Tuesday, July 11th. They set an “underperform” rating and a $100.00 price objective for the company. BidaskClub cut Graco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $104.00 price objective on shares of Graco in a research report on Friday, April 28th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $106.20.
Shares of Graco (NYSE:GGG) opened at 115.88 on Tuesday. Graco has a 1-year low of $69.33 and a 1-year high of $116.75. The firm has a 50-day moving average price of $110.49 and a 200-day moving average price of $101.35. The stock has a market capitalization of $6.49 billion, a PE ratio of 73.53 and a beta of 1.25.
Graco (NYSE:GGG) last released its earnings results on Wednesday, July 26th. The industrial products company reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.32. Graco had a return on equity of 40.21% and a net margin of 6.50%. The firm had revenue of $379.50 million during the quarter, compared to analysts’ expectations of $369.36 million. During the same period in the previous year, the firm posted $0.89 EPS. Graco’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities research analysts forecast that Graco will post $4.52 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: “Graco Inc. (NYSE:GGG) Stock Rating Reaffirmed by FBR & Co” was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another site, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/08/09/graco-inc-nyseggg-rating-reiterated-by-fbr-co-updated-updated-updated.html.
In other Graco news, Director Eric Etchart sold 793 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $113.90, for a total transaction of $90,322.70. Following the completion of the sale, the director now directly owns 11,224 shares of the company’s stock, valued at approximately $1,278,413.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Karen Park Gallivan sold 12,242 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $115.00, for a total value of $1,407,830.00. Following the sale, 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 129,021 shares of company stock valued at $6,484,484 over the last three months. Company insiders own 5.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Chicago Equity Partners LLC bought a new stake in Graco during the second quarter valued at approximately $1,093,000. Commerce Bank increased its stake in Graco by 1.5% in the second quarter. Commerce Bank now owns 4,038 shares of the industrial products company’s stock valued at $441,000 after buying an additional 60 shares in the last quarter. Principal Financial Group Inc. increased its stake in Graco by 7.1% in the second quarter. Principal Financial Group Inc. now owns 240,251 shares of the industrial products company’s stock valued at $26,255,000 after buying an additional 15,938 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Graco during the second quarter valued at approximately $496,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Graco by 12.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,071 shares of the industrial products company’s stock valued at $226,000 after buying an additional 231 shares in the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.
Graco Company Profile
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.
Receive News & Stock Ratings for Graco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco Inc. and related stocks with our FREE daily email newsletter.