Graco (NYSE:GGG) Announces Quarterly Earnings Results

Graco (NYSE:GGG) released its quarterly earnings data on Tuesday. The industrial products company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08, MarketWatch Earnings reports. Graco had a return on equity of 29.38% and a net margin of 18.88%. The firm had revenue of $454.10 million for the quarter, compared to analyst estimates of $426.13 million. During the same quarter in the prior year, the company earned $0.42 earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year.

GGG traded down $0.03 during midday trading on Thursday, reaching $77.03. The company’s stock had a trading volume of 12,586 shares, compared to its average volume of 817,577. The firm has a market capitalization of $13.01 billion, a price-to-earnings ratio of 44.79, a PEG ratio of 4.45 and a beta of 0.56. The company has a current ratio of 3.25, a quick ratio of 2.38 and a debt-to-equity ratio of 0.24. Graco has a 1 year low of $41.79 and a 1 year high of $77.12. The stock’s 50-day moving average is $71.08 and its 200-day moving average is $69.63.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 5th. Shareholders of record on Monday, April 19th will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Friday, April 16th. Graco’s dividend payout ratio (DPR) is presently 39.47%.

A number of equities research analysts have weighed in on the company. Morgan Stanley assumed coverage on Graco in a report on Wednesday, March 31st. They issued an “equal weight” rating and a $75.00 target price on the stock. Jefferies Financial Group raised shares of Graco from a “hold” rating to a “buy” rating and lifted their price target for the stock from $65.00 to $90.00 in a report on Tuesday, January 19th. Royal Bank of Canada upped their target price on shares of Graco from $78.00 to $84.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 27th. Finally, DA Davidson upped their price objective on shares of Graco from $57.00 to $70.00 and gave the company a “neutral” rating in a research note on Tuesday, January 26th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $74.33.

In other Graco news, Director Sant R. William Van sold 13,938 shares of the stock in a transaction that occurred on Friday, February 19th. The shares were sold at an average price of $70.04, for a total value of $976,217.52. Following the transaction, the director now directly owns 13,938 shares in the company, valued at $976,217.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christian E. Rothe sold 59,340 shares of the firm’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $70.00, for a total transaction of $4,153,800.00. Following the sale, the insider now owns 51,728 shares in the company, valued at $3,620,960. The disclosure for this sale can be found here. In the last quarter, insiders have sold 142,532 shares of company stock worth $10,063,786. Corporate insiders own 4.12% of the company’s stock.

About Graco

Graco, Inc is a manufacturing company, which designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. It operates through the following segments: Industrial, Contractor and Process. The Industrial segment includes the Applied Fluid Technologies and Industrial Products divisions.

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Earnings History for Graco (NYSE:GGG)

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