Graco Inc. (GGG) Downgraded to “Hold” at BidaskClub
BidaskClub downgraded shares of Graco Inc. (NYSE:GGG) from a buy rating to a hold rating in a report published on Friday morning.
Several other analysts have also weighed in on the company. Wolfe Research initiated coverage on Graco in a report on Tuesday, July 11th. They issued an underperform rating and a $100.00 target price on the stock. TheStreet raised Graco from a c+ rating to a b+ rating in a report on Thursday, April 27th. FBR & Co reissued a marketperform rating on shares of Graco in a report on Tuesday, July 11th. Royal Bank Of Canada reissued a hold rating and issued a $104.00 target price on shares of Graco in a report on Friday, April 28th. Finally, Deutsche Bank AG reissued a hold rating and issued a $110.00 target price (up previously from $105.00) on shares of Graco in a report on Monday, June 5th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Graco has a consensus rating of Hold and a consensus price target of $106.20.
Graco (GGG) traded up 0.96% during trading on Friday, hitting $113.42. 135,477 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $111.77 and its 200 day moving average price is $104.07. Graco has a 12-month low of $69.33 and a 12-month high of $116.75. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 71.97 and a beta of 1.25.
Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 26th. The industrial products company reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.32. The firm had revenue of $379.50 million for 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%. Graco’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.89 earnings per share. Equities analysts forecast that Graco will post $4.53 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, August 2nd. Shareholders of record on Monday, July 17th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.27%. The ex-dividend date was Thursday, July 13th. Graco’s dividend payout ratio (DPR) is 92.90%.
In related news, VP Karen Park Gallivan sold 12,242 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $115.00, for a total transaction of $1,407,830.00. Following the sale, the vice president now owns 27,264 shares of the company’s stock, valued at $3,135,360. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eric Etchart sold 793 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $113.90, for a total value of $90,322.70. Following the sale, the director now directly owns 11,224 shares in the company, valued at approximately $1,278,413.60. The disclosure for this sale can be found here. Insiders sold 59,021 shares of company stock worth $6,476,784 in the last three months. 5.70% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised 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 last quarter. Koch Industries Inc. bought a new stake in Graco during the second quarter worth approximately $582,000. Parametric Portfolio Associates LLC raised its stake in Graco by 168.2% in the first quarter. Parametric Portfolio Associates LLC now owns 649,333 shares of the industrial products company’s stock worth $61,128,000 after buying an additional 407,245 shares during the last quarter. Vanguard Group Inc. raised 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 last quarter. Finally, Janus Henderson Group PLC bought a new stake in Graco during the second quarter worth approximately $33,167,000. 90.10% of the stock is currently owned by institutional investors and hedge funds.
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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