Graco (NYSE:GGG) Posts Earnings Results, Beats Expectations By $0.08 EPS


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Graco (NYSE:GGG) issued its quarterly earnings data on Tuesday. The industrial products company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08, MarketWatch Earnings reports. Graco had a net margin of 18.88% and a return on equity of 29.38%. The business had revenue of $454.10 million for the quarter, compared to analysts’ expectations of $426.13 million. During the same quarter last year, the company earned $0.42 EPS. The business’s revenue was up 21.5% on a year-over-year basis.

GGG stock traded down $0.59 during mid-day trading on Thursday, reaching $76.47. The company’s stock had a trading volume of 769,469 shares, compared to its average volume of 816,943. The stock has a market cap of $12.92 billion, a PE ratio of 43.95, a P/E/G ratio of 4.45 and a beta of 0.56. The company has a current ratio of 3.25, a quick ratio of 2.38 and a debt-to-equity ratio of 0.24. Graco has a fifty-two week low of $41.79 and a fifty-two week high of $78.20. The company’s 50 day moving average is $71.23 and its two-hundred day moving average is $69.72.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 5th. Investors of record on Monday, April 19th will be paid a dividend of $0.1875 per share. The ex-dividend date is Friday, April 16th. This represents a $0.75 annualized dividend and a yield of 0.98%. Graco’s dividend payout ratio is presently 39.47%.

In other Graco news, insider Christian E. Rothe sold 59,340 shares of the stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $70.00, for a total value of $4,153,800.00. Following the completion of the sale, the insider now owns 51,728 shares in the company, valued at approximately $3,620,960. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David M. Lowe sold 54,000 shares of the stock in a transaction dated Friday, February 12th. The shares were sold at an average price of $71.55, for a total transaction of $3,863,700.00. Following the completion of the sale, the insider now owns 604,239 shares of the company’s stock, valued at approximately $43,233,300.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 142,532 shares of company stock valued at $10,063,786. 4.12% of the stock is owned by insiders.

A number of equities research analysts recently issued reports on GGG shares. Morgan Stanley started coverage on shares of Graco in a research note on Wednesday, March 31st. They issued an “equal weight” rating and a $75.00 price target on the stock. DA Davidson lifted their price target on shares of Graco from $57.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 26th. They noted that the move was a valuation call. Royal Bank of Canada lifted their price target on shares of Graco from $78.00 to $84.00 and gave the company an “outperform” rating in a research note on Wednesday, January 27th. Finally, Jefferies Financial Group raised shares of Graco from a “hold” rating to a “buy” rating and lifted their price target for the company from $65.00 to $90.00 in a research note on Tuesday, January 19th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $74.33.

About Graco

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies and Industrial Products divisions.

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Earnings History for Graco (NYSE:GGG)

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