Analysts Set Graco Inc. (GGG) Price Target at $41.72

Shares of Graco Inc. (NYSE:GGG) have been given a consensus rating of “Hold” by the fourteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Thirteen research analysts have rated the stock with a hold recommendation. The average 12 month target price among brokerages that have covered the stock in the last year is $42.76.

GGG has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated a “hold” rating and issued a $49.00 price objective on shares of Graco in a report on Thursday. Oppenheimer reissued a “hold” rating on shares of Graco in a research note on Thursday, December 28th. SunTrust Banks reissued a “hold” rating and issued a $42.67 target price on shares of Graco in a research note on Friday, October 27th. Robert W. Baird reissued a “hold” rating and issued a $45.00 target price on shares of Graco in a research note on Friday, October 27th. Finally, FBR & Co set a $46.67 target price on Graco and gave the company a “hold” rating in a research note on Thursday, October 26th.

Graco (GGG) traded down $0.12 during midday trading on Tuesday, reaching $46.21. The company had a trading volume of 974,677 shares, compared to its average volume of 889,875. The company has a market capitalization of $2,600.00, a P/E ratio of 74.53, a PEG ratio of 2.78 and a beta of 1.24. The company has a quick ratio of 1.46, a current ratio of 2.23 and a debt-to-equity ratio of 0.31. Graco has a fifty-two week low of $27.78 and a fifty-two week high of $46.95.

Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.03. The business had revenue of $379.81 million during the quarter, compared to the consensus estimate of $356.30 million. Graco had a return on equity of 42.05% and a net margin of 7.72%. The firm’s revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 earnings per share. equities research analysts predict that Graco will post 1.45 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Monday, January 22nd will be paid a $0.3975 dividend. This represents a $1.59 dividend on an annualized basis and a yield of 3.44%. This is a boost from Graco’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, January 19th. Graco’s payout ratio is presently 77.42%.

In other news, VP Karen Park Gallivan sold 27,000 shares of the company’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $46.67, for a total transaction of $1,260,090.00. Following the completion of the transaction, the vice president now directly owns 72,305 shares of the company’s stock, valued at $3,374,474.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christian E. Rothe sold 12,750 shares of the company’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $132.01, for a total value of $1,683,127.50. Following the transaction, the chief financial officer now directly owns 16,905 shares of the company’s stock, valued at $2,231,629.05. The disclosure for this sale can be found here. Over the last three months, insiders sold 734,752 shares of company stock valued at $18,245,690. Insiders own 5.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its position in shares of Graco by 6.6% during the third quarter. Parametric Portfolio Associates LLC now owns 655,299 shares of the industrial products company’s stock worth $81,054,000 after buying an additional 40,284 shares during the period. Burgundy Asset Management Ltd. boosted its position in shares of Graco by 2.3% during the third quarter. Burgundy Asset Management Ltd. now owns 539,482 shares of the industrial products company’s stock worth $66,729,000 after buying an additional 11,896 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Graco by 4.9% during the third quarter. Public Employees Retirement System of Ohio now owns 108,820 shares of the industrial products company’s stock worth $13,460,000 after buying an additional 5,072 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Graco during the third quarter worth about $1,380,000. Finally, California Public Employees Retirement System boosted its position in shares of Graco by 5.5% during the third quarter. California Public Employees Retirement System now owns 166,717 shares of the industrial products company’s stock worth $20,621,000 after buying an additional 8,717 shares during the period. 86.24% of the stock is owned by institutional investors.

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Graco Company Profile

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.

Analyst Recommendations for Graco (NYSE:GGG)

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