Graco Inc. (GGG) Downgraded by BidaskClub

BidaskClub cut shares of Graco Inc. (NYSE:GGG) from a strong-buy rating to a buy rating in a report published on Thursday.

Other equities research analysts have also issued research reports about the company. TheStreet raised Graco from a c+ rating to a b+ rating in a research note on Thursday, April 27th. Royal Bank Of Canada reissued a hold rating and set a $104.00 price target on shares of Graco in a research note on Friday, April 28th. Zacks Investment Research raised Graco from a hold rating to a buy rating and set a $105.00 price target on the stock in a research note on Wednesday, April 5th. Finally, Deutsche Bank AG reissued a hold rating and set a $110.00 price target (up previously from $105.00) on shares of Graco in a research note on Monday, June 5th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Graco has a consensus rating of Hold and a consensus target price of $97.40.

Graco (GGG) traded down 0.38% during trading on Thursday, reaching $111.03. The company had a trading volume of 45,322 shares. The firm has a 50-day moving average of $110.91 and a 200-day moving average of $95.71. Graco has a 1-year low of $69.33 and a 1-year high of $114.65. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 103.57 and a beta of 1.17.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, April 26th. The industrial products company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.30. Graco had a return on equity of 35.25% and a net margin of 4.53%. The company had revenue of $340.59 million for the quarter, compared to analyst estimates of $315.62 million. During the same quarter in the previous year, the company earned $0.70 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts anticipate that Graco will post $4.15 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 2nd. Stockholders of record on Monday, July 17th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Thursday, July 13th. Graco’s dividend payout ratio (DPR) is 135.85%.

In other news, Director Eric Etchart sold 576 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $96.78, for a total transaction of $55,745.28. Following the sale, the director now owns 8,693 shares of the company’s stock, valued at approximately $841,308.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian J. Zumbolo sold 25,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $108.25, for a total value of $2,760,375.00. Following the sale, the vice president now directly owns 26,719 shares in the company, valued at approximately $2,892,331.75. The disclosure for this sale can be found here. Insiders have sold a total of 689,172 shares of company stock worth $16,070,548 in the last three months. Corporate insiders own 5.70% of the company’s stock.

Several large investors have recently made changes to their positions in GGG. Profund Advisors LLC raised its stake in shares of Graco by 0.5% in the first quarter. Profund Advisors LLC now owns 7,738 shares of the industrial products company’s stock valued at $728,000 after buying an additional 37 shares during the period. Northwestern Mutual Investment Management Company LLC increased its position in shares of Graco by 0.6% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 9,651 shares of the industrial products company’s stock valued at $909,000 after buying an additional 54 shares in the last quarter. Mosaic Family Wealth LLC increased its position in shares of Graco by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 1,789 shares of the industrial products company’s stock valued at $168,000 after buying an additional 62 shares in the last quarter. Commerce Bank increased its position in shares of Graco by 1.7% in the first quarter. Commerce Bank now owns 3,978 shares of the industrial products company’s stock valued at $374,000 after buying an additional 67 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Graco by 1.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 4,562 shares of the industrial products company’s stock valued at $379,000 after buying an additional 76 shares in the last quarter. 90.80% of the stock is currently owned by institutional investors and hedge funds.

About Graco

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.

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