Graco (GGG) Raised to “Hold” at Zacks Investment Research

Graco (NYSE:GGG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, January 4th.

According to Zacks, “Graco Inc., together with its subsidiaries, designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. It operates through three segments: Industrial, Process, and Contractor. The Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators etc. The Process segment offers pumps that move chemicals, water, wastewater, petroleum, food, and other fluids; pressure valves used in the oil and natural gas industry, other industrial processes, and research facilities etc. The Contractor segment offers sprayers that apply paint and texture to walls, other structures, and ceilings; and highly viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors. “

GGG has been the subject of several other reports. Oppenheimer reissued a “hold” rating on shares of Graco in a research note on Thursday, December 28th. Royal Bank of Canada reissued a “hold” rating and set a $49.00 target price on shares of Graco in a research note on Thursday, January 4th. B. Riley reissued a “neutral” rating on shares of Graco in a research note on Wednesday, November 1st. Robert W. Baird reissued a “hold” rating and set a $45.00 target price on shares of Graco in a research note on Friday, October 27th. Finally, KeyCorp reissued a “hold” rating on shares of Graco in a research note on Friday, October 20th. Thirteen research analysts have rated the stock with a hold rating, Graco has a consensus rating of “Hold” and a consensus target price of $41.67.

Graco (NYSE GGG) traded up $0.55 during trading on Thursday, hitting $47.02. 506,098 shares of the stock traded hands, compared to its average volume of 753,937. The company has a quick ratio of 1.46, a current ratio of 2.23 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2,640.00, a PE ratio of 75.84, a PEG ratio of 2.80 and a beta of 1.24. Graco has a twelve month low of $28.06 and a twelve month high of $47.44.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.03. Graco had a net margin of 7.72% and a return on equity of 42.05%. The business had revenue of $379.81 million during the quarter, compared to analysts’ expectations of $356.30 million. During the same period last year, the firm posted $0.32 earnings per share. The business’s revenue was up 16.1% on a year-over-year basis. equities research analysts forecast that Graco will post 1.45 earnings per share for the current year.

In related news, VP Caroline M. Chambers sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $131.56, for a total value of $1,315,600.00. Following the completion of the sale, the vice president now owns 15,191 shares in the company, valued at approximately $1,998,527.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Mark W. Sheahan sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $131.31, for a total transaction of $3,939,300.00. Following the completion of the sale, the vice president now owns 49,538 shares of the company’s stock, valued at approximately $6,504,834.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 734,752 shares of company stock valued at $18,245,690. 5.70% of the stock is owned by insiders.

Large investors have recently modified their holdings of the stock. Rockland Trust Co. purchased a new stake in Graco in the 4th quarter worth approximately $543,000. Leavell Investment Management Inc. lifted its position in Graco by 200.0% in the 4th quarter. Leavell Investment Management Inc. now owns 22,500 shares of the industrial products company’s stock worth $1,017,000 after buying an additional 15,000 shares in the last quarter. Thomson Horstmann & Bryant Inc. lifted its position in Graco by 216.5% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 23,067 shares of the industrial products company’s stock worth $1,043,000 after buying an additional 15,778 shares in the last quarter. Confluence Investment Management LLC lifted its position in Graco by 195.2% in the 4th quarter. Confluence Investment Management LLC now owns 2,347,351 shares of the industrial products company’s stock worth $106,147,000 after buying an additional 1,552,175 shares in the last quarter. Finally, Carlson Capital Management lifted its position in Graco by 186.7% in the 4th quarter. Carlson Capital Management now owns 17,943 shares of the industrial products company’s stock worth $811,000 after buying an additional 11,685 shares in the last quarter. Institutional investors and hedge funds own 28.75% of the company’s stock.

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About Graco

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.

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