Graco Inc. (NYSE:GGG) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Analysts maintain a “Hold” consensus on Graco, with five hold ratings and two buys across seven brokerages. The average one-year price target is $95, compared with the reported share price of $81.90.
• Graco reported quarterly EPS of $0.91, exceeding the $0.81 analyst consensus, while revenue of $590.55 million fell short of expectations of $608.06 million. Revenue still increased 3.3% year over year.
• The company declared a quarterly dividend of $0.295 per share, equivalent to $1.18 annually and a 1.4% yield. Institutional investors own approximately 93.88% of Graco’s outstanding stock.

Shares of Graco Inc. (NYSE:GGG - Get Free Report) have earned a consensus rating of "Hold" from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Five 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 issued a report on the stock in the last year is $95.00.

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

Graco Price Performance

Shares of NYSE:GGG opened at $81.90 on Friday. The business has a fifty day moving average price of $77.08 and a 200-day moving average price of $82.22. The company has a market capitalization of $13.26 billion, a PE ratio of 25.75, a PEG ratio of 2.52 and a beta of 0.92. Graco has a 1-year low of $72.51 and a 1-year high of $95.69.

Graco (NYSE:GGG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The industrial products company reported $0.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.10. Graco had a net margin of 23.53% and a return on equity of 19.54%. The company had revenue of $590.55 million for the quarter, compared to analysts' expectations of $608.06 million. During the same quarter in the previous year, the business posted $0.75 EPS. Graco's revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Graco will post 3.26 earnings per share for the current fiscal year.

Graco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Monday, July 20th were issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, July 20th. Graco's dividend payout ratio is presently 37.11%.

Institutional Investors Weigh In On Graco

Several institutional investors have recently modified their holdings of the business. Cassaday & Co Wealth Management LLC bought a new position in Graco during the first quarter valued at approximately $26,000. Whipplewood Advisors LLC grew its position in 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 purchasing an additional 318 shares during the period. Essential Partners LLC grew its position in Graco by 78.6% in the 1st 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. Elevation Wealth Partners LLC raised its stake in Graco by 2,540.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 528 shares of the industrial products company's stock valued at $40,000 after buying an additional 508 shares during the last quarter. Finally, Field & Main Bank purchased a new stake in Graco during the 4th quarter valued at $41,000. 93.88% of the stock is owned by hedge funds and other institutional investors.

Graco Company Profile

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco's solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company's product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.

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