KeyCorp Reaffirms “Hold” Rating for Graco Inc. (NYSE:GGG)

KeyCorp reissued their hold rating on shares of Graco Inc. (NYSE:GGG) in a research report sent to investors on Friday, October 20th.

A number of other brokerages have also recently weighed in on GGG. Zacks Investment Research upgraded Graco from a hold rating to a buy rating and set a $127.00 target price on the stock in a report on Monday, July 31st. Wolfe Research raised Graco from an underperform rating to a peer perform rating and set a $100.00 price objective on the stock in a research report on Monday, July 31st. Royal Bank Of Canada reissued a hold rating on shares of Graco in a research report on Friday, July 28th. FBR & Co reissued a marketperform rating on shares of Graco in a research report on Tuesday, July 11th. Finally, Robert W. Baird reaffirmed a hold rating and set a $129.00 target price on shares of Graco in a research report on Wednesday, October 4th. Nine equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $116.75.

Graco (GGG) opened at 132.87 on Friday. Graco has a 52-week low of $73.40 and a 52-week high of $134.11. The company has a market capitalization of $7.44 billion, a P/E ratio of 84.31 and a beta of 1.25. The stock’s 50 day moving average price is $123.86 and its 200-day moving average price is $113.32.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $356.30 million. During the same quarter last year, the firm earned $0.95 earnings per share. The business’s revenue was up 16.1% on a year-over-year basis. Analysts predict that Graco will post $4.57 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Monday, October 16th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.08%. Graco’s dividend payout ratio is presently 75.79%.

In other Graco news, VP David M. Ahlers sold 22,500 shares of the company’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $120.01, for a total value of $2,700,225.00. Following the transaction, the vice president now owns 42,047 shares of the company’s stock, valued at $5,046,060.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric Etchart sold 757 shares of the company’s 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. Over the last quarter, insiders have sold 132,516 shares of company stock valued at $6,359,179. Insiders own 5.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BB&T Corp raised its stake in Graco by 0.4% during the 2nd quarter. BB&T Corp now owns 2,567 shares of the industrial products company’s stock valued at $280,000 after purchasing an additional 11 shares during the period. Somerset Trust Co raised its stake in Graco by 0.4% during the 2nd quarter. Somerset Trust Co now owns 5,093 shares of the industrial products company’s stock valued at $557,000 after purchasing an additional 21 shares during the period. BB&T Securities LLC raised its stake in Graco by 0.5% during the 2nd quarter. BB&T Securities LLC now owns 6,930 shares of the industrial products company’s stock valued at $757,000 after purchasing an additional 36 shares during the period. Commerce Bank raised its stake in Graco by 1.5% during the 2nd quarter. Commerce Bank now owns 4,038 shares of the industrial products company’s stock valued at $441,000 after purchasing an additional 60 shares during the period. Finally, WCM Investment Management CA raised its stake in Graco by 2.1% during the 2nd quarter. WCM Investment Management CA now owns 3,695 shares of the industrial products company’s stock valued at $404,000 after purchasing an additional 75 shares during the period. 86.91% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Graco (NYSE:GGG)

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