Graco Inc. (NYSE:GGG) Receives Consensus Recommendation of “Hold” from Brokerages

Graco Inc. (NYSE:GGG) has earned a consensus recommendation of “Hold” from the seven research firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $94.25.

Several research firms have issued reports on GGG. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 price target on shares of Graco in a research report on Friday, April 24th. Robert W. Baird cut their price target on shares of Graco from $96.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 24th. Weiss Ratings lowered shares of Graco from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday. Finally, DA Davidson restated a “neutral” rating and set a $85.00 price target on shares of Graco in a research report on Monday, April 27th.

Graco Stock Down 0.3%

NYSE GGG opened at $74.13 on Tuesday. The company has a 50-day simple moving average of $80.35 and a two-hundred day simple moving average of $84.47. Graco has a 12-month low of $73.48 and a 12-month high of $95.69. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 24.15, a PEG ratio of 2.40 and a beta of 0.93.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, April 22nd. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.09). Graco had a net margin of 22.96% and a return on equity of 18.66%. The business had revenue of $540.14 million for the quarter, compared to analysts’ expectations of $561.35 million. During the same quarter in the previous year, the company earned $0.70 earnings per share. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts expect that Graco will post 3.1 earnings per share for the current fiscal year.

Insider Activity at Graco

In other news, Director Andrea Helen Simon acquired 1,240 shares of the stock in a transaction dated Monday, April 27th. The stock was purchased at an average cost of $80.53 per share, with a total value of $99,857.20. Following the completion of the purchase, the director owned 1,240 shares in the company, valued at approximately $99,857.20. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.18% of the company’s stock.

Hedge Funds Weigh In On Graco

Several hedge funds and other institutional investors have recently modified their holdings of GGG. Goldman Sachs Group Inc. raised its stake in shares of Graco by 15.6% during the first quarter. Goldman Sachs Group Inc. now owns 330,409 shares of the industrial products company’s stock valued at $27,592,000 after acquiring an additional 44,573 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Graco by 982.6% during the first quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 452 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Graco by 97.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,765 shares of the industrial products company’s stock valued at $152,000 after acquiring an additional 870 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Graco by 559.5% during the second quarter. Marshall Wace LLP now owns 108,100 shares of the industrial products company’s stock valued at $9,293,000 after acquiring an additional 91,708 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Graco by 4.2% during the second quarter. Federated Hermes Inc. now owns 21,289 shares of the industrial products company’s stock valued at $1,830,000 after acquiring an additional 852 shares during the last quarter. 93.88% of the stock is owned by institutional investors.

About Graco

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.