DA Davidson Weighs in on Graco’s Q1 2018 Earnings (GGG)

Graco (NYSE:GGG) – DA Davidson issued their Q1 2018 EPS estimates for Graco in a report issued on Wednesday, April 11th. DA Davidson analyst M. Summerville expects that the industrial products company will post earnings per share of $0.41 for the quarter. DA Davidson has a “Neutral” rating and a $48.00 price target on the stock. DA Davidson also issued estimates for Graco’s Q2 2018 earnings at $0.49 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.43 EPS, FY2018 earnings at $1.80 EPS, Q1 2019 earnings at $0.44 EPS, Q2 2019 earnings at $0.52 EPS, Q3 2019 earnings at $0.51 EPS, Q4 2019 earnings at $0.46 EPS and FY2019 earnings at $1.93 EPS.

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Graco (NYSE:GGG) last released its quarterly earnings data on Monday, January 29th. The industrial products company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $374.90 million during the quarter, compared to the consensus estimate of $369.53 million. Graco had a net margin of 17.12% and a return on equity of 40.08%. The business’s revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 EPS.

GGG has been the subject of several other research reports. Deutsche Bank upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Tuesday, January 23rd. Oppenheimer reiterated a “hold” rating on shares of Graco in a research note on Thursday, December 28th. Royal Bank of Canada reiterated a “hold” rating and issued a $49.00 price objective on shares of Graco in a research note on Thursday, January 4th. Zacks Investment Research upgraded shares of Graco from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, ValuEngine lowered shares of Graco from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. Graco has an average rating of “Hold” and an average target price of $47.41.

NYSE:GGG opened at $46.85 on Monday. The firm has a market capitalization of $7,757.07, a PE ratio of 32.76, a P/E/G ratio of 2.75 and a beta of 1.15. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.70 and a quick ratio of 1.67. Graco has a twelve month low of $31.02 and a twelve month high of $49.69.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Graco by 213.0% during the 4th quarter. BlackRock Inc. now owns 14,002,690 shares of the industrial products company’s stock valued at $633,202,000 after purchasing an additional 9,529,107 shares in the last quarter. Atlanta Capital Management Co. L L C increased its stake in Graco by 171.7% during the 4th quarter. Atlanta Capital Management Co. L L C now owns 3,907,999 shares of the industrial products company’s stock valued at $176,720,000 after purchasing an additional 2,469,513 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in Graco by 162.5% during the 4th quarter. Gamco Investors INC. ET AL now owns 3,025,330 shares of the industrial products company’s stock valued at $136,805,000 after purchasing an additional 1,872,855 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Graco by 190.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,578,707 shares of the industrial products company’s stock worth $116,609,000 after acquiring an additional 1,689,416 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its holdings in Graco by 195.2% during 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 acquiring an additional 1,552,175 shares during the last quarter. Institutional investors and hedge funds own 86.16% of the company’s stock.

In other Graco news, VP Caroline M. Chambers sold 9,939 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.03, for a total transaction of $417,736.17. Following the completion of the sale, the vice president now owns 30,615 shares in the company, valued at approximately $1,286,748.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Karen Park Gallivan sold 27,000 shares of the business’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $48.34, for a total transaction of $1,305,180.00. Following the sale, the vice president now owns 72,305 shares of the company’s stock, valued at approximately $3,495,223.70. The disclosure for this sale can be found here. Insiders have sold a total of 63,564 shares of company stock valued at $2,965,505 in the last 90 days. 5.10% of the stock is currently owned by company insiders.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 2nd. Shareholders of record on Monday, April 16th will be paid a dividend of $0.1325 per share. The ex-dividend date is Friday, April 13th. This represents a $0.53 dividend on an annualized basis and a yield of 1.13%. Graco’s dividend payout ratio (DPR) is presently 37.06%.

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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. Its Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.

Earnings History and Estimates for Graco (NYSE:GGG)

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