Graco’s (GGG) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Graco (NYSE:GGG) in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a $103.00 price target on the industrial products company’s stock.

GGG has been the subject of a number of other research reports. William Blair restated a market perform rating on shares of Graco in a research note on Friday, April 26th. Robert W. Baird decreased their price target on Graco from $90.00 to $87.00 and set a neutral rating for the company in a research note on Friday, April 26th. Finally, StockNews.com downgraded Graco from a buy rating to a hold rating in a report on Wednesday, June 12th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Graco currently has an average rating of Hold and an average price target of $90.75.

Graco Stock Up 0.0 %

NYSE GGG opened at $79.28 on Thursday. Graco has a fifty-two week low of $69.78 and a fifty-two week high of $94.77. The business has a 50 day moving average price of $81.44 and a two-hundred day moving average price of $86.04. The stock has a market cap of $13.41 billion, a PE ratio of 27.34, a P/E/G ratio of 2.60 and a beta of 0.82.

Graco (NYSE:GGG) last issued its quarterly earnings data on Wednesday, April 24th. The industrial products company reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.09). Graco had a return on equity of 23.01% and a net margin of 23.15%. The firm had revenue of $492.19 million during the quarter, compared to analyst estimates of $536.19 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The business’s quarterly revenue was down 7.1% compared to the same quarter last year. Sell-side analysts anticipate that Graco will post 3.05 EPS for the current fiscal year.

Graco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Monday, July 22nd will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date is Monday, July 22nd. Graco’s payout ratio is 35.17%.

Institutional Trading of Graco

A number of large investors have recently modified their holdings of GGG. Tobam grew its position in Graco by 2,330.8% in the 4th quarter. Tobam now owns 316 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 303 shares during the last quarter. Sound Income Strategies LLC acquired a new stake in Graco in the 4th quarter valued at approximately $28,000. Fortitude Family Office LLC bought a new stake in Graco during the 4th quarter valued at $29,000. Rise Advisors LLC acquired a new position in Graco during the 1st quarter worth $38,000. Finally, New Covenant Trust Company N.A. bought a new position in shares of Graco in the first quarter worth $43,000. Institutional investors and hedge funds own 93.88% of the company’s stock.

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.