Graco Inc. (GGG) Expected to Announce Quarterly Sales of $403.46 Million

Wall Street analysts expect that Graco Inc. (NYSE:GGG) will announce $403.46 million in sales for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Graco’s earnings. The highest sales estimate is $411.95 million and the lowest is $397.00 million. Graco reported sales of $374.86 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.6%. The business is expected to announce its next quarterly earnings report on Monday, February 4th.

According to Zacks, analysts expect that Graco will report full year sales of $1.65 billion for the current financial year, with estimates ranging from $1.64 billion to $1.66 billion. For the next financial year, analysts expect that the company will report sales of $1.73 billion, with estimates ranging from $1.70 billion to $1.75 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Graco.

Graco (NYSE:GGG) last posted its quarterly earnings data on Wednesday, October 24th. The industrial products company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The business had revenue of $415.94 million during the quarter, compared to analyst estimates of $403.62 million. Graco had a net margin of 18.73% and a return on equity of 42.19%.

GGG has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Graco from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Oppenheimer reissued a “hold” rating on shares of Graco in a research report on Wednesday, August 22nd. DA Davidson set a $49.00 price objective on shares of Graco and gave the company a “hold” rating in a research report on Monday, August 20th. ValuEngine lowered shares of Graco from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Finally, SunTrust Banks reissued a “hold” rating and issued a $45.00 price objective on shares of Graco in a research report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $48.67.

A number of institutional investors have recently added to or reduced their stakes in GGG. BNP Paribas Arbitrage SA grew its holdings in Graco by 52.8% in the second quarter. BNP Paribas Arbitrage SA now owns 15,241 shares of the industrial products company’s stock valued at $689,000 after purchasing an additional 5,267 shares during the period. Aperio Group LLC grew its holdings in Graco by 3.2% in the second quarter. Aperio Group LLC now owns 47,639 shares of the industrial products company’s stock valued at $2,154,000 after purchasing an additional 1,461 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Graco by 11.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 25,676 shares of the industrial products company’s stock valued at $1,161,000 after purchasing an additional 2,734 shares during the period. TD Asset Management Inc. grew its holdings in Graco by 32.4% in the second quarter. TD Asset Management Inc. now owns 110,450 shares of the industrial products company’s stock valued at $4,995,000 after purchasing an additional 27,000 shares during the period. Finally, Smith Asset Management Group LP grew its holdings in Graco by 2.2% in the second quarter. Smith Asset Management Group LP now owns 207,572 shares of the industrial products company’s stock valued at $9,386,000 after purchasing an additional 4,490 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

NYSE:GGG opened at $42.02 on Monday. The company has a quick ratio of 1.71, a current ratio of 2.77 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $6.99 billion, a PE ratio of 29.38, a PEG ratio of 2.79 and a beta of 1.20. Graco has a 1-year low of $37.36 and a 1-year high of $49.69.

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.

Read More: What is the NASDAQ?

Get a free copy of the Zacks research report on Graco (GGG)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Graco (NYSE:GGG)

Receive News & Ratings for Graco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Graco and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply