Graco (NYSE:GGG) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Monday.
GGG has been the subject of several other research reports. Oppenheimer reiterated a “hold” rating on shares of Graco in a research note on Monday, October 29th. Royal Bank of Canada reiterated a “hold” rating and set a $46.00 target price on shares of Graco in a research note on Wednesday, January 30th. Zacks Investment Research upgraded shares of Graco from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Friday, October 26th. SunTrust Banks restated a “hold” rating and issued a $45.00 price objective on shares of Graco in a research report on Monday, October 29th. Finally, Jefferies Financial Group started coverage on shares of Graco in a research report on Friday, January 25th. They issued a “hold” rating and a $46.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, Graco currently has an average rating of “Hold” and a consensus target price of $46.20.
Shares of GGG traded up $0.39 during mid-day trading on Monday, hitting $43.50. 520,237 shares of the company’s stock were exchanged, compared to its average volume of 650,117. Graco has a fifty-two week low of $37.36 and a fifty-two week high of $48.33. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 23.14, a price-to-earnings-growth ratio of 2.20 and a beta of 1.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.47 and a current ratio of 2.41.
Graco (NYSE:GGG) last announced its earnings results on Monday, January 28th. The industrial products company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. Graco had a net margin of 20.63% and a return on equity of 43.67%. The business had revenue of $406.40 million during the quarter, compared to the consensus estimate of $404.14 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. Equities research analysts forecast that Graco will post 2.01 EPS for the current year.
A number of large investors have recently made changes to their positions in GGG. WCM Investment Management CA lifted its position in Graco by 3,426.8% in the third quarter. WCM Investment Management CA now owns 1,611,268 shares of the industrial products company’s stock valued at $74,666,000 after purchasing an additional 1,565,581 shares during the period. Capital International Investors acquired a new stake in Graco in the third quarter valued at about $19,463,000. JPMorgan Chase & Co. lifted its position in Graco by 31.2% in the third quarter. JPMorgan Chase & Co. now owns 1,115,996 shares of the industrial products company’s stock valued at $51,715,000 after purchasing an additional 265,581 shares during the period. Cornerstone Wealth Management LLC acquired a new stake in shares of Graco during the 3rd quarter valued at approximately $1,684,000. Finally, American Century Companies Inc. lifted its position in shares of Graco by 17.9% during the 3rd quarter. American Century Companies Inc. now owns 1,352,102 shares of the industrial products company’s stock valued at $62,656,000 after acquiring an additional 205,546 shares during the period. Hedge funds and other institutional investors own 84.87% of the company’s stock.
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.
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