Graco Inc. (NYSE:GGG) Stock Has Consensus Target Price of $87.40 According to Brokerages

Shares of Graco Inc. (NYSE:GGG) have been given a consensus rating of “Hold” by the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $87.40.

GGG has been the subject of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Graco in a research report on Monday. Royal Bank Of Canada restated an “outperform” rating and issued a $82.00 target price (down from $95.00) on shares of Graco in a report on Friday, October 23rd. Wolfe Research lowered shares of Graco from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 9th. Robert W. Baird set a $80.00 price target on Graco in a report on Friday, October 23rd. Finally, DA Davidson reaffirmed a “neutral” rating and set a $85.00 target price on shares of Graco in a research report on Monday, July 27th.

Graco Price Performance

Shares of GGG opened at $67.99 on Friday. The firm has a fifty day moving average price of $75.97 and a 200 day moving average price of $80.71. The stock has a market cap of $10.90 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 2.18 and a beta of 0.89. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.12 and a quick ratio of 1.24. Graco has a 1-year low of $65.96 and a 1-year high of $95.69.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, October 21st. The industrial products company reported $0.81 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.02). The company had revenue of $586.39 million for the quarter, compared to analysts’ expectations of $590.17 million. Graco had a net margin of 22.40% and a return on equity of 20.13%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.73 earnings per share. As a group, sell-side analysts anticipate that Graco will post 3.20 EPS for the current year.

Graco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 4th. Shareholders of record on Monday, October 19th were issued a $0.2950 dividend. The ex-dividend date of this dividend was Monday, October 19th. This represents a $1.18 dividend on an annualized basis and a yield of 1.7%. Graco’s dividend payout ratio (DPR) is currently 37.94%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GGG. Maryland State Retirement & Pension System increased its stake in Graco by 11.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 9,655 shares of the industrial products company’s stock valued at $742,000 after buying an additional 984 shares during the period. Machina Capital S.A.S. acquired a new stake in Graco in the third quarter valued at approximately $693,000. Lido Advisors LLC bought a new stake in Graco in the third quarter worth approximately $344,000. Narwhal Capital Management grew its position in Graco by 2.5% in the third quarter. Narwhal Capital Management now owns 92,857 shares of the industrial products company’s stock worth $7,135,000 after acquiring an additional 2,298 shares in the last quarter. Finally, Quarry Hill Advisors LLC acquired a new position in shares of Graco during the 3rd quarter worth $528,000. 93.88% of the stock is owned by institutional investors and hedge funds.

About Graco

Graco Inc is a global manufacturer of equipment used to move, measure, control, dispense and apply fluids and other materials. Its products are used in industrial, commercial and residential applications involving paints, coatings, sealants, adhesives, lubricants, chemicals and other fluids.

The company’s product portfolio includes pumps, valves, meters, regulators, fluid-management systems, lubrication equipment, spray-applied coating and finishing systems, sealant and adhesive equipment, and contractor-oriented painting and texture application tools.