Graco Inc. (NYSE:GGG) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Graco Inc. (NYSE:GGG) have been given an average rating of “Moderate Buy” by the four analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $84.80.

GGG has been the topic of a number of research analyst reports. Robert W. Baird lowered their price objective on shares of Graco from $90.00 to $87.00 and set a “neutral” rating on the stock in a research note on Friday. Royal Bank of Canada raised their target price on Graco from $91.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. StockNews.com upgraded shares of Graco from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Finally, Jefferies Financial Group lifted their price target on Graco from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, January 11th.

Insider Activity

In other news, Director Jody H. Feragen sold 5,036 shares of Graco stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $92.29, for a total value of $464,772.44. Following the transaction, the director now owns 44,903 shares of the company’s stock, valued at $4,144,097.87. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Jody H. Feragen sold 5,036 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $92.29, for a total value of $464,772.44. Following the sale, the director now directly owns 44,903 shares of the company’s stock, valued at $4,144,097.87. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Angela F. Wordell sold 3,588 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $93.60, for a total value of $335,836.80. Following the transaction, the vice president now directly owns 12,725 shares of the company’s stock, valued at approximately $1,191,060. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,378 shares of company stock valued at $4,376,528. Insiders own 2.63% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GGG. Tobam increased its position in shares of Graco by 2,330.8% during the fourth quarter. Tobam now owns 316 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 303 shares during the period. Sound Income Strategies LLC acquired a new stake in Graco during the fourth quarter worth $28,000. Fortitude Family Office LLC bought a new stake in Graco in the 4th quarter valued at $29,000. Rise Advisors LLC acquired a new position in shares of Graco in the 1st quarter valued at $38,000. Finally, Northwest Financial Advisors bought a new position in shares of Graco during the 4th quarter worth about $50,000. Institutional investors own 93.88% of the company’s stock.

Graco Stock Performance

Shares of GGG stock opened at $83.12 on Friday. The firm has a market capitalization of $14.01 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 2.85 and a beta of 0.81. Graco has a 1 year low of $68.78 and a 1 year high of $94.77. The stock has a fifty day moving average of $91.25 and a two-hundred day moving average of $84.85.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.09). The company had revenue of $492.19 million during the quarter, compared to analyst estimates of $536.19 million. Graco had a return on equity of 23.43% and a net margin of 23.15%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 EPS. Equities research analysts predict that Graco will post 3.14 earnings per share for the current fiscal year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a dividend of $0.255 per share. The ex-dividend date is Friday, April 12th. This represents a $1.02 annualized dividend and a dividend yield of 1.23%. Graco’s dividend payout ratio (DPR) is presently 35.17%.

Graco Company Profile

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.