$431.48 Million in Sales Expected for Graco Inc. (NYSE:GGG) This Quarter


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Equities analysts expect Graco Inc. (NYSE:GGG) to post $431.48 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Graco’s earnings, with the lowest sales estimate coming in at $414.00 million and the highest estimate coming in at $446.51 million. Graco reported sales of $373.57 million during the same quarter last year, which indicates a positive year-over-year growth rate of 15.5%. The company is scheduled to report its next quarterly earnings report on Wednesday, April 28th.

According to Zacks, analysts expect that Graco will report full-year sales of $1.84 billion for the current year, with estimates ranging from $1.77 billion to $1.90 billion. For the next financial year, analysts forecast that the company will report sales of $1.94 billion, with estimates ranging from $1.86 billion to $2.05 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Graco.

Graco (NYSE:GGG) last announced its earnings results on Sunday, January 24th. The industrial products company reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.10. Graco had a net margin of 18.88% and a return on equity of 29.38%. The business had revenue of $470.34 million during the quarter, compared to analysts’ expectations of $426.52 million. During the same period in the prior year, the company earned $0.48 earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis.

Several equities research analysts recently commented on the stock. DA Davidson boosted their price target on shares of Graco from $57.00 to $70.00 and gave the stock a “neutral” rating in a report on Tuesday, January 26th. They noted that the move was a valuation call. Royal Bank of Canada raised their target price on shares of Graco from $78.00 to $84.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 27th. Finally, Jefferies Financial Group raised Graco from a “hold” rating to a “buy” rating and increased their price target for the stock from $65.00 to $90.00 in a report on Tuesday, January 19th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Graco presently has a consensus rating of “Buy” and a consensus target price of $74.20.

NYSE GGG traded down $0.63 during trading on Thursday, reaching $68.76. 5,914 shares of the company’s stock traded hands, compared to its average volume of 711,351. The firm has a market cap of $11.60 billion, a price-to-earnings ratio of 39.53, a price-to-earnings-growth ratio of 4.45 and a beta of 0.56. Graco has a 12-month low of $38.43 and a 12-month high of $76.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.25 and a quick ratio of 2.38. The company’s 50 day simple moving average is $72.45 and its two-hundred day simple moving average is $66.14.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 5th. Investors of record on Monday, April 19th will be paid a dividend of $0.1875 per share. The ex-dividend date is Friday, April 16th. This represents a $0.75 dividend on an annualized basis and a yield of 1.09%. Graco’s payout ratio is currently 39.47%.

In other news, insider Dale D. Johnson sold 7,304 shares of the stock in a transaction dated Friday, December 11th. The stock was sold at an average price of $68.50, for a total transaction of $500,324.00. Following the transaction, the insider now owns 260,098 shares of the company’s stock, valued at approximately $17,816,713. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sant R. William Van sold 13,938 shares of the stock in a transaction that occurred on Friday, February 19th. The shares were sold at an average price of $70.04, for a total value of $976,217.52. Following the sale, the director now owns 13,938 shares of the company’s stock, valued at approximately $976,217.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 90,496 shares of company stock valued at $6,410,310. Insiders own 4.12% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Fieldpoint Private Securities LLC bought a new position in shares of Graco in the 4th quarter worth $154,000. Brinker Capital Investments LLC bought a new stake in shares of Graco in the third quarter valued at approximately $2,275,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Graco by 8.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,538 shares of the industrial products company’s stock worth $1,486,000 after purchasing an additional 1,534 shares during the last quarter. Wetherby Asset Management Inc. acquired a new position in shares of Graco during the third quarter worth $310,000. Finally, Pacer Advisors Inc. acquired a new stake in Graco in the third quarter valued at $2,471,000. 84.08% of the stock is owned by hedge funds and other institutional investors.

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. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; 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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Earnings History and Estimates for Graco (NYSE:GGG)

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