Graco Inc. (NYSE:GGG) Receives $93.00 Consensus Target Price from Brokerages

Shares of Graco Inc. (NYSE:GGG) have been given a consensus recommendation of “Hold” by the five research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $93.00.

A number of analysts have recently commented on GGG shares. DA Davidson set a $85.00 target price on shares of Graco in a report on Friday, January 31st. Royal Bank of Canada boosted their price objective on shares of Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, BNP Paribas raised shares of Graco from a “neutral” rating to an “outperform” rating and set a $105.00 target price for the company in a research note on Thursday, December 19th.

Graco Trading Down 0.6 %

GGG stock opened at $79.27 on Friday. The company’s 50 day moving average is $83.45 and its 200 day moving average is $85.06. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 2.85 and a beta of 0.92. Graco has a 1-year low of $72.06 and a 1-year high of $92.86.

Graco (NYSE:GGG) last announced its quarterly earnings data on Monday, January 27th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.13). Graco had a net margin of 23.00% and a return on equity of 19.38%. As a group, sell-side analysts forecast that Graco will post 3.06 EPS for the current fiscal year.

Graco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Investors of record on Monday, April 14th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Monday, April 14th. Graco’s dividend payout ratio (DPR) is presently 39.01%.

Hedge Funds Weigh In On Graco

Institutional investors and hedge funds have recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new stake in Graco in the fourth quarter valued at approximately $25,000. TD Private Client Wealth LLC boosted its holdings in shares of Graco by 118.0% in the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 190 shares during the last quarter. National Pension Service acquired a new stake in shares of Graco in the fourth quarter worth $34,000. Whipplewood Advisors LLC acquired a new stake in shares of Graco in the fourth quarter worth $37,000. Finally, Brooklyn Investment Group raised its holdings in shares of Graco by 39.1% during the fourth quarter. Brooklyn Investment Group now owns 484 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 136 shares during the last quarter. 93.88% 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 Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.