Graco Inc. (NYSE:GGG) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Graco Inc. (NYSE:GGG) have been given a consensus rating of “Moderate Buy” by the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $96.50.

A number of research analysts have recently weighed in on the company. Jefferies Financial Group raised their price target on Graco from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, January 28th. DA Davidson reissued a “neutral” rating and issued a $85.00 price objective on shares of Graco in a research note on Monday, February 2nd. Weiss Ratings upgraded shares of Graco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, February 5th. Royal Bank Of Canada upped their price target on shares of Graco from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Graco in a research report on Tuesday, January 27th.

Graco Stock Performance

Shares of NYSE GGG opened at $84.65 on Thursday. Graco has a one year low of $72.06 and a one year high of $95.69. The firm has a market capitalization of $14.03 billion, a P/E ratio of 27.39, a PEG ratio of 2.72 and a beta of 1.07. The company’s fifty day moving average is $89.79 and its two-hundred day moving average is $85.35.

Graco (NYSE:GGG) last announced its quarterly earnings results on Monday, January 26th. The industrial products company reported $0.77 EPS for the quarter, hitting the consensus estimate of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The business had revenue of $593.16 million for the quarter, compared to analyst estimates of $591.99 million. During the same quarter in the previous year, the company earned $0.64 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts forecast that Graco will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Monday, April 13th will be issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, April 13th. Graco’s payout ratio is 38.19%.

Graco announced that its Board of Directors has initiated a stock buyback plan on Friday, December 5th that authorizes the company to repurchase 15,000,000 outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Graco news, EVP Angela F. Wordell sold 2,832 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $93.22, for a total transaction of $263,999.04. Following the sale, the executive vice president directly owned 13,360 shares of the company’s stock, valued at $1,245,419.20. This trade represents a 17.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director J Kevin Gilligan sold 12,870 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $89.07, for a total transaction of $1,146,330.90. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 19,394 shares of company stock worth $1,739,326. 2.19% of the stock is owned by company insiders.

Institutional Trading of Graco

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Root Financial Partners LLC acquired a new stake in shares of Graco during the third quarter worth $29,000. Assetmark Inc. lifted its position in Graco by 42.6% during the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock worth $40,000 after buying an additional 139 shares during the period. CX Institutional boosted its stake in Graco by 316.7% in the 3rd quarter. CX Institutional now owns 475 shares of the industrial products company’s stock worth $40,000 after buying an additional 361 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after buying an additional 452 shares during the last quarter. Finally, Field & Main Bank purchased a new stake in Graco in the 4th quarter valued at about $41,000. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.