Brokerages predict that Graco Inc. (NYSE:GGG) will announce $477.58 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Graco’s earnings, with the highest sales estimate coming in at $489.79 million and the lowest estimate coming in at $461.60 million. Graco posted sales of $366.89 million in the same quarter last year, which would suggest a positive year over year growth rate of 30.2%. The company is expected to announce its next earnings results on Wednesday, July 28th.
According to Zacks, analysts expect that Graco will report full-year sales of $1.91 billion for the current financial year, with estimates ranging from $1.88 billion to $1.97 billion. For the next financial year, analysts expect that the business will post sales of $2.02 billion, with estimates ranging from $1.96 billion to $2.09 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Graco.
Graco (NYSE:GGG) last posted its quarterly earnings data on Tuesday, April 20th. The industrial products company reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.08. The business had revenue of $454.10 million for the quarter, compared to analysts’ expectations of $426.13 million. Graco had a return on equity of 30.60% and a net margin of 20.99%. The business’s revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 EPS.
In other Graco news, insider Christian E. Rothe sold 59,340 shares of the business’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $70.00, for a total transaction of $4,153,800.00. Following the completion of the sale, the insider now directly owns 51,728 shares in the company, valued at approximately $3,620,960. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Eric Etchart sold 5,100 shares of the business’s stock in a transaction on Thursday, April 22nd. The shares were sold at an average price of $77.20, for a total transaction of $393,720.00. Over the last 90 days, insiders sold 101,737 shares of company stock valued at $7,420,714. 3.63% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its stake in Graco by 5.2% during the 1st quarter. BlackRock Inc. now owns 15,076,493 shares of the industrial products company’s stock valued at $1,079,778,000 after buying an additional 750,000 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in Graco by 2.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,554,795 shares of the industrial products company’s stock valued at $541,076,000 after buying an additional 175,126 shares during the last quarter. WCM Investment Management LLC grew its position in shares of Graco by 3.5% during the 1st quarter. WCM Investment Management LLC now owns 4,875,703 shares of the industrial products company’s stock valued at $349,198,000 after acquiring an additional 167,096 shares during the period. Neuberger Berman Group LLC grew its position in shares of Graco by 1.1% during the 1st quarter. Neuberger Berman Group LLC now owns 2,329,861 shares of the industrial products company’s stock valued at $164,833,000 after acquiring an additional 25,475 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Graco by 3.6% during the 1st quarter. Geode Capital Management LLC now owns 2,264,045 shares of the industrial products company’s stock valued at $162,150,000 after acquiring an additional 78,715 shares during the period. Institutional investors and hedge funds own 84.19% of the company’s stock.
Graco stock traded down $0.22 during trading hours on Friday, hitting $73.48. 343,199 shares of the stock traded hands, compared to its average volume of 715,360. The business’s 50-day moving average price is $75.50. The company has a current ratio of 3.48, a quick ratio of 2.52 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $12.45 billion, a P/E ratio of 34.99, a PEG ratio of 3.78 and a beta of 0.59. Graco has a one year low of $45.48 and a one year high of $79.37.
Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel-coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.
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