$355.12 Million in Sales Expected for Graco Inc. (GGG) This Quarter
Equities analysts expect Graco Inc. (NYSE:GGG) to report sales of $355.12 million for the current quarter, Zacks reports. Eight analysts have made estimates for Graco’s earnings, with estimates ranging from $350.00 million to $360.20 million. Graco posted sales of $327.19 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.5%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, October 18th.
On average, analysts expect that Graco will report full-year sales of $355.12 million for the current fiscal year, with estimates ranging from $1.42 billion to $1.45 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.51 billion per share, with estimates ranging from $1.47 billion to $1.53 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Graco.
Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.32. The business had revenue of $379.50 million during the quarter, compared to analyst estimates of $369.36 million. Graco had a net margin of 6.50% and a return on equity of 40.21%. Graco’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.89 EPS.
Several equities analysts have recently issued reports on GGG shares. Deutsche Bank AG restated a “hold” rating and set a $110.00 price objective (up previously from $105.00) on shares of Graco in a report on Monday, June 5th. TheStreet raised shares of Graco from a “c+” rating to a “b+” rating in a research note on Thursday, April 27th. Wolfe Research raised shares of Graco from an “underperform” rating to a “peer perform” rating and set a $100.00 price objective on the stock in a research note on Monday, July 31st. BidaskClub lowered Graco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Finally, FBR & Co reiterated a “marketperform” rating on shares of Graco in a research report on Tuesday, July 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $106.20.
In other news, Director Eric Etchart sold 793 shares of the business’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 value of $90,322.70. Following the transaction, the director now owns 11,224 shares of the company’s stock, valued at $1,278,413.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Karen Park Gallivan sold 12,242 shares of the business’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 completion of the transaction, the vice president now directly owns 27,264 shares in the company, valued at approximately $3,135,360. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 129,021 shares of company stock valued at $6,484,484. 5.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. raised its position in shares of Graco by 106.1% in the second quarter. Advisors Asset Management Inc. now owns 1,123 shares of the industrial products company’s stock worth $123,000 after buying an additional 578 shares in the last quarter. Acrospire Investment Management LLC raised its stake in Graco by 200.0% in the second quarter. Acrospire Investment Management LLC now owns 1,200 shares of the industrial products company’s stock valued at $131,000 after buying an additional 800 shares during the period. Creative Planning raised its stake in Graco by 5.4% in the first quarter. Creative Planning now owns 1,496 shares of the industrial products company’s stock valued at $141,000 after buying an additional 76 shares during the period. Mosaic Family Wealth LLC raised its stake in Graco by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 1,789 shares of the industrial products company’s stock valued at $168,000 after buying an additional 62 shares during the period. Finally, Fiduciary Trust Co. purchased a new stake in Graco during the second quarter valued at $180,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.
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Graco (GGG) traded up 0.17% during mid-day trading on Thursday, reaching $112.66. 194,625 shares of the company’s stock were exchanged. The company’s 50-day moving average is $110.78 and its 200 day moving average is $102.35. Graco has a one year low of $69.33 and a one year high of $116.75. The firm has a market capitalization of $6.31 billion, a P/E ratio of 71.48 and a beta of 1.25.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Investors of record on Monday, July 17th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.28%. The ex-dividend date was Thursday, July 13th. Graco’s payout ratio is 92.90%.
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.
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