Graco Inc. (NYSE:GGG) Given Consensus Recommendation of “Hold” by Analysts

Shares of Graco Inc. (NYSE:GGG) have been given an average rating of “Hold” by the five research firms that are currently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $90.25.

Several research analysts have recently weighed in on GGG shares. Royal Bank of Canada reduced their price target on shares of Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a report on Friday, July 26th. Robert W. Baird reduced their target price on shares of Graco from $87.00 to $86.00 and set a “neutral” rating for the company in a report on Friday, July 26th. Finally, DA Davidson restated a “neutral” rating and set a $79.00 target price on shares of Graco in a report on Friday, September 27th.

Graco Trading Down 0.7 %

Shares of NYSE GGG opened at $82.35 on Friday. Graco has a 1-year low of $69.78 and a 1-year high of $94.77. The company has a market cap of $13.93 billion, a PE ratio of 28.40, a P/E/G ratio of 2.88 and a beta of 0.81. The company has a 50-day moving average of $83.90 and a two-hundred day moving average of $82.79.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). Graco had a net margin of 23.16% and a return on equity of 22.40%. The firm had revenue of $519.21 million during the quarter, compared to the consensus estimate of $538.19 million. During the same period in the previous year, the company posted $0.76 EPS. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Graco will post 2.98 earnings per share for the current year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st will be paid a $0.255 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.24%. Graco’s payout ratio is currently 35.17%.

Institutional Investors Weigh In On Graco

Several hedge funds have recently added to or reduced their stakes in GGG. Gradient Investments LLC bought a new position in Graco during the 2nd quarter worth approximately $27,000. New Covenant Trust Company N.A. purchased a new position in Graco during the 1st quarter worth $43,000. UMB Bank n.a. boosted its holdings in Graco by 187.8% during the 3rd quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock worth $43,000 after acquiring an additional 323 shares during the last quarter. Blue Trust Inc. boosted its holdings in Graco by 220.9% during the 2nd quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 475 shares during the last quarter. Finally, Tobam grew its position in Graco by 90.2% during the first quarter. Tobam now owns 601 shares of the industrial products company’s stock valued at $56,000 after buying an additional 285 shares during the period. 93.88% of the stock is currently owned by institutional investors and hedge funds.

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.