Graco Inc. (NYSE:GGG) Receives $96.50 Consensus Price Target from Brokerages

Graco Inc. (NYSE:GGG) has been given a consensus recommendation of “Moderate Buy” by the seven analysts that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $96.50.

Several research firms have recently issued reports on GGG. KeyCorp reiterated a “sector weight” rating on shares of Graco in a research report on Tuesday, January 27th. Robert W. Baird set a $96.00 target price on shares of Graco in a research report on Wednesday, January 28th. Weiss Ratings raised shares of Graco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. DA Davidson reiterated a “neutral” rating and issued a $85.00 price target on shares of Graco in a report on Monday, February 2nd. Finally, Jefferies Financial Group boosted their price target on shares of Graco from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, January 28th.

Insider Transactions at Graco

In other news, EVP Kathryn L. Schoenrock sold 2,223 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $88.06, for a total transaction of $195,757.38. Following the completion of the transaction, the executive vice president directly owned 7,846 shares in the company, valued at approximately $690,918.76. This represents a 22.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Angela F. Wordell sold 2,832 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $93.22, for a total transaction of $263,999.04. Following the completion of the transaction, the executive vice president directly owned 13,360 shares of the company’s stock, valued at approximately $1,245,419.20. This trade represents a 17.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 19,394 shares of company stock valued at $1,739,326 over the last 90 days. Insiders own 2.18% of the company’s stock.

Institutional Trading of Graco

A number of large investors have recently made changes to their positions in the business. Root Financial Partners LLC purchased a new position in Graco in the third quarter worth about $29,000. Assetmark Inc. raised its position in Graco by 42.6% during the third quarter. Assetmark Inc. now owns 465 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 139 shares during the period. CX Institutional lifted its stake in shares of Graco by 316.7% in the 3rd quarter. CX Institutional now owns 475 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 361 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Graco by 982.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 498 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 452 shares during the period. Finally, Field & Main Bank purchased a new position in shares of Graco in the 4th quarter worth approximately $41,000. 93.88% of the stock is currently owned by institutional investors.

Graco Stock Up 0.5%

NYSE GGG opened at $85.97 on Thursday. Graco has a twelve month low of $72.06 and a twelve month high of $95.69. The business has a 50-day moving average price of $89.70 and a 200-day moving average price of $85.35. The firm has a market cap of $14.25 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 2.68 and a beta of 1.07.

Graco (NYSE:GGG) last posted its quarterly earnings results on Monday, January 26th. The industrial products company reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. Graco had a return on equity of 19.49% and a net margin of 23.33%.The company had revenue of $593.16 million for the quarter, compared to analysts’ expectations of $591.99 million. During the same period in the previous year, the firm earned $0.64 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Research analysts expect that Graco will post 3.06 EPS for the current fiscal year.

Graco declared that its board has authorized a stock repurchase plan on Friday, December 5th that permits the company to buyback 15,000,000 shares. This buyback authorization permits the industrial products company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Graco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Monday, April 13th will be issued a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a yield of 1.4%. The ex-dividend date is Monday, April 13th. Graco’s dividend payout ratio (DPR) is currently 38.19%.

Graco Company Profile

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.