Graco (GGG) Stock Rating Upgraded by Zacks Investment Research

Graco (NYSE:GGG) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “Graco Inc., together with its subsidiaries, designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. It operates through three segments: Industrial, Process, and Contractor. The Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators etc. The Process segment offers pumps that move chemicals, water, wastewater, petroleum, food, and other fluids; pressure valves used in the oil and natural gas industry, other industrial processes, and research facilities etc. The Contractor segment offers sprayers that apply paint and texture to walls, other structures, and ceilings; and highly viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors. “

Several other equities research analysts also recently weighed in on GGG. Robert W. Baird reaffirmed a “hold” rating and issued a $43.00 price target on shares of Graco in a research note on Wednesday, October 4th. KeyCorp reaffirmed a “hold” rating on shares of Graco in a research note on Friday, October 20th. FBR & Co set a $46.67 price target on shares of Graco and gave the company a “hold” rating in a research note on Thursday, October 26th. SunTrust Banks reaffirmed a “hold” rating and issued a $42.67 price target on shares of Graco in a research note on Friday, October 27th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Graco in a research note on Wednesday, November 1st. Thirteen equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average price target of $41.67.

Graco (NYSE GGG) traded up $0.42 during mid-day trading on Thursday, reaching $46.33. 1,001,384 shares of the company traded hands, compared to its average volume of 861,633. The firm has a market capitalization of $2,600.00, a price-to-earnings ratio of 74.73, a price-to-earnings-growth ratio of 2.74 and a beta of 1.24. The company has a current ratio of 2.23, a quick ratio of 1.46 and a debt-to-equity ratio of 0.31. Graco has a 1-year low of $27.49 and a 1-year high of $46.70.

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

In other news, VP Karen Park Gallivan sold 27,000 shares of the business’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $46.67, for a total transaction of $1,260,090.00. Following the completion of the sale, 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 SEC, which is available at this hyperlink. Also, VP Mark W. Sheahan sold 30,000 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $131.31, for a total transaction of $3,939,300.00. Following the sale, the vice president now directly owns 49,538 shares of the company’s stock, valued at $6,504,834.78. The disclosure for this sale can be found here. Over the last three months, insiders have sold 734,752 shares of company stock valued at $18,245,690. 5.70% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. Commerce Bank increased its position in shares of Graco by 1.5% during the second quarter. Commerce Bank now owns 4,038 shares of the industrial products company’s stock worth $441,000 after acquiring an additional 60 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Graco by 12.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,071 shares of the industrial products company’s stock worth $226,000 after acquiring an additional 231 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Graco by 6.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 7,211 shares of the industrial products company’s stock worth $892,000 after acquiring an additional 413 shares in the last quarter. Comerica Bank increased its position in shares of Graco by 1.0% during the third quarter. Comerica Bank now owns 44,201 shares of the industrial products company’s stock worth $5,779,000 after acquiring an additional 440 shares in the last quarter. Finally, Cardinal Capital Management increased its position in shares of Graco by 6.8% during the third quarter. Cardinal Capital Management now owns 7,621 shares of the industrial products company’s stock worth $942,000 after acquiring an additional 488 shares in the last quarter. 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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