Graco (NYSE:GGG) Earns “Neutral” Rating from DA Davidson

by · The Markets Daily

DA Davidson reissued their neutral rating on shares of Graco (NYSE:GGG – Free Report) in a research report released on Friday morning, Benzinga reports. They currently have a $79.00 price objective on the industrial products company’s stock.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada reduced their target price on shares of Graco from $99.00 to $96.00 and set an outperform rating for the company in a report on Friday, July 26th. StockNews.com downgraded Graco from a buy rating to a hold rating in a research report on Wednesday, June 12th. Finally, Robert W. Baird reduced their price target on Graco from $87.00 to $86.00 and set a neutral rating for the company in a research report on Friday, July 26th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $86.80.

Check Out Our Latest Stock Report on Graco

Graco Trading Up 1.0 %

Shares of Graco stock opened at $87.64 on Friday. Graco has a 12 month low of $69.78 and a 12 month high of $94.77. The firm has a market capitalization of $14.82 billion, a P/E ratio of 30.22, a P/E/G ratio of 2.88 and a beta of 0.81. The business has a fifty day simple moving average of $82.35 and a two-hundred day simple moving average of $83.64.

Graco (NYSE:GGG – Get Free Report) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. Graco had a net margin of 23.16% and a return on equity of 22.40%. The business had revenue of $553.20 million during the quarter, compared to analyst estimates of $562.27 million. During the same period last year, the business earned $0.75 EPS. Graco’s revenue was down 1.1% compared to the same quarter last year. Analysts predict that Graco will post 2.98 earnings per share for the current year.

Graco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be paid a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 1.16%. The ex-dividend date is Monday, October 21st. Graco’s payout ratio is currently 35.17%.

Institutional Trading of Graco

Several hedge funds have recently modified their holdings of GGG. Gradient Investments LLC bought a new stake in Graco in the second quarter worth $27,000. Rise Advisors LLC purchased a new stake in shares of Graco during the 1st quarter valued at about $38,000. New Covenant Trust Company N.A. bought a new position in shares of Graco in the 1st quarter valued at about $43,000. Tobam grew its position in Graco by 90.2% in the first quarter. Tobam now owns 601 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 285 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Graco by 220.9% during the second quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 475 shares during the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Company Profile

(Get Free Report)

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.

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