Graco Inc. (NYSE:GGG) Receives $90.25 Consensus Price Target from Brokerages

Shares of Graco Inc. (NYSE:GGG) have been assigned an average rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $90.25.

Several equities research analysts recently weighed in on GGG shares. DA Davidson reiterated a “neutral” rating and set a $79.00 price objective on shares of Graco in a research note on Friday, September 27th. Robert W. Baird lowered their price objective on shares of Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Finally, Royal Bank of Canada lowered their price objective on shares of Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th.

Graco Stock Down 0.7 %

GGG stock opened at $82.35 on Friday. The company has a market cap of $13.93 billion, a price-to-earnings ratio of 28.40, a PEG ratio of 2.88 and a beta of 0.81. The business has a fifty day simple moving average of $83.90 and a 200-day simple moving average of $82.79. Graco has a 52 week low of $69.78 and a 52 week high of $94.77.

Graco (NYSE:GGG) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.05). Graco had a net margin of 23.16% and a return on equity of 22.40%. The company had revenue of $519.21 million during the quarter, compared to analyst estimates of $538.19 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, analysts expect that Graco will post 2.98 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, October 21st. Graco’s dividend payout ratio (DPR) is currently 35.17%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GGG. SG Americas Securities LLC grew its position in Graco by 1,010.8% in the 1st quarter. SG Americas Securities LLC now owns 55,886 shares of the industrial products company’s stock worth $5,223,000 after purchasing an additional 50,855 shares during the last quarter. Vident Advisory LLC boosted its position in Graco by 567.4% in the first quarter. Vident Advisory LLC now owns 42,899 shares of the industrial products company’s stock valued at $4,009,000 after buying an additional 36,471 shares in the last quarter. TD Asset Management Inc boosted its position in Graco by 14.5% in the first quarter. TD Asset Management Inc now owns 1,440,378 shares of the industrial products company’s stock valued at $134,618,000 after buying an additional 182,470 shares in the last quarter. M&G Plc boosted its position in Graco by 2.0% in the second quarter. M&G Plc now owns 483,535 shares of the industrial products company’s stock valued at $38,199,000 after buying an additional 9,673 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Graco by 2.9% in the first quarter. Acadian Asset Management LLC now owns 884,912 shares of the industrial products company’s stock valued at $82,683,000 after buying an additional 24,827 shares in the last quarter. Institutional investors own 93.88% 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 Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.