Graco Inc. (NYSE:GGG) Receives $86.80 Consensus Target Price from Brokerages

Shares of Graco Inc. (NYSE:GGG) have been given an average rating of “Hold” by the six brokerages that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $86.80.

A number of research analysts recently issued reports on the stock. DA Davidson decreased their target price on shares of Graco from $82.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, July 26th. StockNews.com cut Graco from a “buy” rating to a “hold” rating in a report on Wednesday, June 12th. Robert W. Baird dropped their target price on Graco from $87.00 to $86.00 and set a “neutral” rating on the stock in a report on Friday, July 26th. Finally, Royal Bank of Canada reduced their price target on Graco from $99.00 to $96.00 and set an “outperform” rating for the company in a research report on Friday, July 26th.

Hedge Funds Weigh In On Graco

Hedge funds have recently bought and sold shares of the business. Gradient Investments LLC acquired a new position in Graco during the second quarter worth $27,000. Rise Advisors LLC purchased a new stake in shares of Graco during the first quarter worth about $38,000. New Covenant Trust Company N.A. acquired a new position in shares of Graco during the 1st quarter worth about $43,000. Tobam lifted its stake 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 buying an additional 285 shares in the last quarter. Finally, Blue Trust Inc. boosted 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 buying an additional 475 shares during the last quarter. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Stock Down 0.9 %

Graco stock opened at $84.88 on Monday. The stock has a 50-day moving average price of $82.15 and a 200 day moving average price of $83.79. The company has a market capitalization of $14.36 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 2.88 and a beta of 0.81. Graco has a 52 week low of $69.78 and a 52 week high of $94.77.

Graco (NYSE:GGG) last announced its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.76 by $0.01. The business had revenue of $553.20 million during the quarter, compared to analysts’ expectations of $562.27 million. Graco had a net margin of 23.16% and a return on equity of 22.40%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS. Research analysts anticipate that Graco will post 2.98 EPS for the current fiscal year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Monday, October 21st will be paid a $0.255 dividend. The ex-dividend date is Monday, October 21st. This represents a $1.02 annualized dividend and a dividend yield of 1.20%. Graco’s dividend payout ratio is presently 35.17%.

About Graco

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.