Graco (NYSE:GGG – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
A number of other research firms also recently weighed in on GGG. Seaport Res Ptn reaffirmed a “neutral” rating on shares of Graco in a report on Wednesday, February 2nd. Robert W. Baird lowered their price objective on shares of Graco from $80.00 to $71.00 in a research report on Friday. Zacks Investment Research cut shares of Graco from a “buy” rating to a “hold” rating and set a $73.00 price objective for the company. in a research report on Thursday, April 7th. Finally, DA Davidson reissued a “neutral” rating on shares of Graco in a report on Thursday, April 28th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Graco currently has an average rating of “Hold” and a consensus price target of $75.67.
Shares of NYSE GGG opened at $63.11 on Tuesday. The company has a quick ratio of 1.94, a current ratio of 2.69 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $68.60 and its two-hundred day moving average is $73.22. The company has a market cap of $10.69 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.84 and a beta of 0.71. Graco has a 12 month low of $61.56 and a 12 month high of $81.09.
Graco (NYSE:GGG – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The industrial products company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.05). Graco had a return on equity of 26.72% and a net margin of 21.45%. The firm had revenue of $494.29 million during the quarter, compared to the consensus estimate of $503.33 million. During the same quarter in the prior year, the business posted $0.58 EPS. Graco’s revenue was up 8.8% compared to the same quarter last year. Sell-side analysts expect that Graco will post 2.67 earnings per share for the current fiscal year.
In other news, CFO David M. Lowe sold 28,001 shares of the firm’s stock in a transaction on Tuesday, February 15th. The shares were sold at an average price of $70.70, for a total transaction of $1,979,670.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.52% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Graco during the 4th quarter worth approximately $129,725,000. Vontobel Asset Management Inc. grew its position in shares of Graco by 131.6% during the 3rd quarter. Vontobel Asset Management Inc. now owns 1,043,831 shares of the industrial products company’s stock valued at $75,325,000 after purchasing an additional 593,120 shares in the last quarter. Sandhill Capital Partners LLC bought a new position in shares of Graco in the 4th quarter worth $40,289,000. HighTower Advisors LLC raised its stake in shares of Graco by 2,086.6% during the third quarter. HighTower Advisors LLC now owns 492,307 shares of the industrial products company’s stock worth $34,445,000 after acquiring an additional 469,792 shares in the last quarter. Finally, Eaton Vance Management lifted its position in Graco by 757.8% in the third quarter. Eaton Vance Management now owns 454,745 shares of the industrial products company’s stock valued at $31,658,000 after purchasing an additional 401,730 shares during the last quarter. 84.53% 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, and precision dispensing solutions.