Wall Street analysts expect Graco Inc. (NYSE:GGG) to report $431.48 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Graco’s earnings. The lowest sales estimate is $414.00 million and the highest is $446.51 million. Graco posted sales of $373.57 million in the same quarter last year, which would indicate a positive year over year growth rate of 15.5%. The firm is expected to report its next earnings results on Wednesday, April 28th.
According to Zacks, analysts expect that Graco will report full year sales of $1.84 billion for the current year, with estimates ranging from $1.77 billion to $1.90 billion. For the next year, analysts forecast that the firm will report sales of $1.94 billion, with estimates ranging from $1.86 billion to $2.05 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Graco.
Graco (NYSE:GGG) last released its quarterly earnings results on Sunday, January 24th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.10. Graco had a return on equity of 29.38% and a net margin of 18.88%. The business had revenue of $470.34 million during the quarter, compared to analyst estimates of $426.52 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. Graco’s revenue for the quarter was up 14.1% on a year-over-year basis.
GGG has been the topic of a number of recent research reports. Royal Bank of Canada upped their price objective on Graco from $78.00 to $84.00 and gave the company an “outperform” rating in a research report on Wednesday, January 27th. DA Davidson increased their price objective on Graco from $57.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 26th. They noted that the move was a valuation call. Finally, Jefferies Financial Group raised Graco from a “hold” rating to a “buy” rating and increased their price objective for the stock from $65.00 to $90.00 in a research note on Tuesday, January 19th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Graco has an average rating of “Buy” and a consensus target price of $74.20.
Shares of NYSE:GGG traded down $0.63 during mid-day trading on Thursday, reaching $68.76. The stock had a trading volume of 5,914 shares, compared to its average volume of 711,351. The company has a current ratio of 3.25, a quick ratio of 2.38 and a debt-to-equity ratio of 0.24. The company has a market cap of $11.60 billion, a P/E ratio of 39.53, a price-to-earnings-growth ratio of 4.45 and a beta of 0.56. Graco has a 1 year low of $38.43 and a 1 year high of $76.98. The business’s 50 day moving average price is $72.45 and its 200 day moving average price is $66.14.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 5th. Investors of record on Monday, April 19th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 1.09%. The ex-dividend date is Friday, April 16th. Graco’s payout ratio is presently 39.47%.
In other news, Director Sant R. William Van sold 13,938 shares of the stock in a transaction dated Friday, February 19th. The shares were sold at an average price of $70.04, for a total transaction of $976,217.52. Following the sale, the director now owns 13,938 shares of the company’s stock, valued at $976,217.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dale D. Johnson sold 7,304 shares of the stock in a transaction dated Friday, December 11th. The stock was sold at an average price of $68.50, for a total transaction of $500,324.00. Following the sale, the insider now directly owns 260,098 shares in the company, valued at approximately $17,816,713. The disclosure for this sale can be found here. In the last three months, insiders sold 90,496 shares of company stock valued at $6,410,310. 4.12% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in GGG. DB Wealth Management Group LLC purchased a new position in shares of Graco during the fourth quarter worth approximately $35,000. International Assets Investment Management LLC acquired a new stake in Graco in the fourth quarter valued at $38,000. Archer Investment Corp acquired a new position in shares of Graco during the 4th quarter worth $38,000. Exchange Traded Concepts LLC raised its stake in shares of Graco by 52.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 549 shares of the industrial products company’s stock worth $40,000 after buying an additional 190 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Graco during the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 84.08% 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. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; 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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