Robert W. Baird Trims Graco (NYSE:GGG) Target Price to $85.00

Graco (NYSE:GGG) had its price target trimmed by Robert W. Baird from $88.00 to $85.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a neutral rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada dropped their price target on Graco from $99.00 to $96.00 and set an “outperform” rating on the stock in a research report on Friday, July 26th. DA Davidson restated a “neutral” rating and set a $79.00 target price on shares of Graco in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $89.25.

Graco Trading Down 0.2 %

Shares of Graco stock opened at $82.14 on Friday. Graco has a 12-month low of $70.80 and a 12-month high of $94.77. The company has a market cap of $13.89 billion, a P/E ratio of 28.32, a PEG ratio of 2.82 and a beta of 0.81. The company’s fifty day simple moving average is $83.93 and its two-hundred day simple moving average is $82.58.

Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.05). The company had revenue of $519.21 million during the quarter, compared to the consensus estimate of $538.19 million. Graco had a return on equity of 22.40% and a net margin of 23.16%. Graco’s quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 earnings per share. Analysts predict that Graco will post 2.98 EPS for the current fiscal year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Monday, October 21st will be paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Monday, October 21st. Graco’s payout ratio is 35.17%.

Hedge Funds Weigh In On Graco

Several institutional investors and hedge funds have recently modified their holdings of GGG. Gradient Investments LLC bought a new position in Graco in the 2nd quarter worth about $27,000. New Covenant Trust Company N.A. purchased a new stake in shares of Graco during the first quarter valued at approximately $43,000. UMB Bank n.a. increased its position in shares of Graco by 187.8% during the third quarter. UMB Bank n.a. now owns 495 shares of the industrial products company’s stock valued at $43,000 after acquiring an additional 323 shares in the last quarter. Blue Trust Inc. raised its holdings in Graco by 220.9% in the 2nd quarter. Blue Trust Inc. now owns 690 shares of the industrial products company’s stock worth $55,000 after acquiring an additional 475 shares during the last quarter. Finally, Tobam lifted its position in Graco by 90.2% in the 1st quarter. Tobam now owns 601 shares of the industrial products company’s stock valued at $56,000 after acquiring an additional 285 shares in the last quarter. 93.88% of the stock is currently owned by 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.