Equities analysts expect Graco Inc. (NYSE:GGG) to post sales of $421.88 million for the current quarter, Zacks reports. Nine analysts have provided estimates for Graco’s earnings. The lowest sales estimate is $404.02 million and the highest is $441.71 million. Graco reported sales of $379.48 million in the same quarter last year, which would suggest a positive year over year growth rate of 11.2%. The business is expected to report its next earnings results after the market closes on Wednesday, July 25th.
According to Zacks, analysts expect that Graco will report full-year sales of $1.65 billion for the current financial year, with estimates ranging from $1.62 billion to $1.68 billion. For the next year, analysts anticipate that the business will report sales of $1.73 billion per share, with estimates ranging from $1.69 billion to $1.76 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Graco.
Graco (NYSE:GGG) last released its quarterly earnings data on Wednesday, April 25th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The business had revenue of $406.30 million during the quarter, compared to analysts’ expectations of $369.61 million. Graco had a net margin of 17.99% and a return on equity of 41.12%. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 EPS.
GGG has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Graco from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Friday, April 6th. ValuEngine cut shares of Graco from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Finally, DA Davidson started coverage on shares of Graco in a research report on Thursday, April 12th. They issued a “neutral” rating and a $48.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $47.30.
In related news, Director Eric Etchart sold 15,000 shares of the business’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $43.83, for a total value of $657,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jeffrey P. Johnson sold 90,000 shares of the business’s stock in a transaction on Monday, May 21st. The shares were sold at an average price of $47.06, for a total transaction of $4,235,400.00. Following the completion of the sale, the vice president now directly owns 48,971 shares of the company’s stock, valued at $2,304,575.26. The disclosure for this sale can be found here. Over the last three months, insiders sold 347,204 shares of company stock valued at $15,838,068. 5.10% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in GGG. Suntrust Banks Inc. raised its holdings in shares of Graco by 4.8% in the first quarter. Suntrust Banks Inc. now owns 54,868 shares of the industrial products company’s stock valued at $2,508,000 after buying an additional 2,536 shares during the last quarter. Amalgamated Bank increased its stake in shares of Graco by 7.5% during the first quarter. Amalgamated Bank now owns 37,407 shares of the industrial products company’s stock worth $1,710,000 after acquiring an additional 2,620 shares during the period. Principal Financial Group Inc. increased its stake in shares of Graco by 3.8% during the first quarter. Principal Financial Group Inc. now owns 748,219 shares of the industrial products company’s stock worth $34,208,000 after acquiring an additional 27,359 shares during the period. WINTON GROUP Ltd increased its stake in shares of Graco by 31.1% during the first quarter. WINTON GROUP Ltd now owns 174,939 shares of the industrial products company’s stock worth $7,998,000 after acquiring an additional 41,523 shares during the period. Finally, Xact Kapitalforvaltning AB increased its stake in shares of Graco by 21.1% during the first quarter. Xact Kapitalforvaltning AB now owns 17,190 shares of the industrial products company’s stock worth $786,000 after acquiring an additional 3,000 shares during the period. 85.94% of the stock is owned by hedge funds and other institutional investors.
Shares of Graco traded up $0.36, hitting $45.43, during trading on Friday, Marketbeat.com reports. 6,122 shares of the stock were exchanged, compared to its average volume of 552,713. The stock has a market cap of $7.55 billion, a P/E ratio of 31.52, a price-to-earnings-growth ratio of 2.31 and a beta of 1.14. Graco has a 12-month low of $34.89 and a 12-month high of $49.69. The company has a current ratio of 2.55, a quick ratio of 1.60 and a debt-to-equity ratio of 0.39.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Investors of record on Sunday, July 15th will be given a $0.1325 dividend. The ex-dividend date is Thursday, July 12th. This represents a $0.53 dividend on an annualized basis and a yield of 1.17%. Graco’s dividend payout ratio (DPR) is presently 37.06%.
Graco Company Profile
Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. Its Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.
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