Graco Inc. (NYSE:GGG) Stock Has Average Price Target of $95.00

Key Points

• Analyst sentiment is neutral: Graco has a consensus “Hold” rating from seven brokerages, with five holds and two buys. The average 12-month price target is $95, compared with shares opening at $78.14.
• Quarterly results were mixed: Graco reported EPS of $0.91, beating estimates of $0.81, while revenue of $590.55 million fell short of the $608.06 million consensus estimate. Revenue still increased 3.3% year over year.
• Graco maintains shareholder returns: The company declared a quarterly dividend of $0.295 per share, equivalent to an annualized $1.18 payout and a 1.5% yield. Institutional investors own 93.88% of the company’s stock.

Graco Inc. (NYSE:GGG - Get Free Report) has received a consensus recommendation of "Hold" from the seven brokerages that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $95.00.

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada upped their price objective on Graco from $92.00 to $96.00 and gave the stock an "outperform" rating in a report on Friday, July 24th. Weiss Ratings raised Graco from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 4th. Wolfe Research downgraded Graco from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 9th. Robert W. Baird set a $94.00 price objective on Graco in a report on Friday, July 24th. Finally, DA Davidson reissued a "neutral" rating and set a $85.00 target price on shares of Graco in a research note on Monday, July 27th.

Hedge Funds Weigh In On Graco

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC bought a new stake in Graco during the 1st quarter valued at approximately $26,000. Whipplewood Advisors LLC raised its position in shares of Graco by 2,650.0% in the 1st quarter. Whipplewood Advisors LLC now owns 330 shares of the industrial products company's stock worth $28,000 after acquiring an additional 318 shares in the last quarter. Essential Partners LLC grew its stake in Graco by 78.6% in the first quarter. Essential Partners LLC now owns 359 shares of the industrial products company's stock worth $30,000 after purchasing an additional 158 shares during the period. Root Financial Partners LLC lifted its position in Graco by 43.2% during the first quarter. Root Financial Partners LLC now owns 504 shares of the industrial products company's stock valued at $43,000 after buying an additional 152 shares during the period. Finally, Elevation Wealth Partners LLC increased its stake in shares of Graco by 2,540.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 528 shares of the industrial products company's stock worth $40,000 after acquiring an additional 508 shares in the last quarter. Hedge funds and other institutional investors own 93.88% of the company's stock.

Graco Stock Performance

Shares of GGG opened at $78.14 on Monday. Graco has a 52-week low of $72.51 and a 52-week high of $95.69. The business's 50 day moving average price is $79.29 and its two-hundred day moving average price is $78.98. The firm has a market cap of $12.65 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 2.43 and a beta of 0.89.

Graco (NYSE:GGG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The industrial products company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.81 by $0.10. The firm had revenue of $590.55 million during the quarter, compared to analyst estimates of $608.06 million. Graco had a net margin of 23.53% and a return on equity of 19.54%. The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.75 EPS. Research analysts predict that Graco will post 3.21 EPS for the current fiscal year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Monday, October 19th will be issued a $0.2950 dividend. The ex-dividend date is Monday, October 19th. This represents a $1.18 annualized dividend and a yield of 1.5%. Graco's dividend payout ratio is 37.11%.

Graco Company Profile

Graco Inc is a Minneapolis-based manufacturer of equipment used to manage, measure, control and apply fluids and coatings. Its products are used in industrial, commercial and residential applications, including fluid handling, lubrication, dispensing, sealing, bonding, painting and corrosion protection.

The company's product portfolio includes pumps, valves, meters, regulators, controls, proportioning systems and spray equipment. Graco also supplies equipment for paint and texture application, protective coatings, sealants and adhesives, vehicle servicing, and the automated lubrication of machinery.

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