Graco Inc. (NYSE:GGG) – Analysts at SunTrust Banks lifted their Q2 2018 earnings per share estimates for Graco in a report issued on Thursday, Zacks Investment Research reports. SunTrust Banks analyst C. Brady now forecasts that the industrial products company will earn $1.23 per share for the quarter, up from their previous forecast of $1.22. SunTrust Banks currently has a “Hold” rating and a $128.00 target price on the stock. SunTrust Banks also issued estimates for Graco’s Q3 2018 earnings at $1.24 EPS, FY2018 earnings at $4.63 EPS, Q1 2019 earnings at $1.13 EPS, Q2 2019 earnings at $1.31 EPS, Q3 2019 earnings at $1.32 EPS and FY2019 earnings at $4.97 EPS.
Other equities analysts have also issued reports about the company. B. Riley reaffirmed a “neutral” rating on shares of Graco in a report on Wednesday, November 1st. Wolfe Research reissued a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. Robert W. Baird reissued a “hold” rating and set a $129.00 price objective on shares of Graco in a report on Wednesday, October 4th. Zacks Investment Research raised Graco from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a report on Monday, July 31st. Finally, BidaskClub downgraded Graco from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Eleven analysts have rated the stock with a hold rating, Graco presently has a consensus rating of “Hold” and a consensus price target of $116.75.
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Shares of Graco (GGG) traded down $1.35 on Monday, reaching $128.82. The company’s stock had a trading volume of 296,800 shares, compared to its average volume of 281,297. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.23 and a quick ratio of 1.46. The company has a market cap of $7,240.00, a price-to-earnings ratio of 28.42, a P/E/G ratio of 2.85 and a beta of 1.25. Graco has a 1 year low of $79.83 and a 1 year high of $134.11.
Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.09. Graco had a return on equity of 42.05% and a net margin of 7.72%. The business had revenue of $379.81 million for the quarter, compared to the consensus estimate of $356.30 million. During the same period in the prior year, the business earned $0.95 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caxton Associates LP bought a new position in Graco in the third quarter valued at $544,000. Jane Street Group LLC increased its stake in Graco by 61.4% in the third quarter. Jane Street Group LLC now owns 7,188 shares of the industrial products company’s stock valued at $889,000 after acquiring an additional 2,734 shares during the last quarter. Convergence Investment Partners LLC bought a new position in Graco in the third quarter valued at $921,000. OxFORD Asset Management LLP increased its stake in Graco by 6.9% in the third quarter. OxFORD Asset Management LLP now owns 25,085 shares of the industrial products company’s stock valued at $3,096,000 after acquiring an additional 1,609 shares during the last quarter. Finally, Boston Private Wealth LLC bought a new position in Graco in the third quarter valued at $210,000. 86.40% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Mark W. Sheahan sold 30,000 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $131.31, for a total value of $3,939,300.00. Following the sale, the vice president now owns 49,538 shares in the company, valued at $6,504,834.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eric Etchart sold 757 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $119.20, for a total value of $90,234.40. Following the completion of the transaction, the director now directly owns 12,464 shares in the company, valued at approximately $1,485,708.80. The disclosure for this sale can be found here. Insiders sold 718,116 shares of company stock worth $17,588,337 in the last quarter. 5.70% of the stock is currently owned by company insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Monday, October 16th were given a $0.36 dividend. The ex-dividend date was Friday, October 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.12%. Graco’s dividend payout ratio (DPR) is presently 77.42%.
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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