DA Davidson Weighs in on Graco’s Q1 2018 Earnings (GGG)

Graco (NYSE:GGG) – DA Davidson issued their Q1 2018 earnings estimates for Graco in a research report issued to clients and investors on Wednesday, April 11th. DA Davidson analyst M. Summerville expects that the industrial products company will earn $0.41 per share for the quarter. DA Davidson has a “Neutral” rating and a $48.00 price target on the stock. DA Davidson also issued estimates for Graco’s Q2 2018 earnings at $0.49 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.43 EPS, FY2018 earnings at $1.80 EPS, Q1 2019 earnings at $0.44 EPS, Q2 2019 earnings at $0.52 EPS, Q3 2019 earnings at $0.51 EPS, Q4 2019 earnings at $0.46 EPS and FY2019 earnings at $1.93 EPS.

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Several other analysts have also issued reports on GGG. Zacks Investment Research raised shares of Graco from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Friday, April 6th. SunTrust Banks reaffirmed a “hold” rating and set a $45.00 price target on shares of Graco in a research report on Wednesday, January 31st. B. Riley upped their price target on shares of Graco from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. ValuEngine lowered shares of Graco from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Finally, Deutsche Bank raised shares of Graco from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Graco currently has a consensus rating of “Hold” and an average target price of $47.41.

NYSE GGG opened at $46.85 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.67 and a current ratio of 2.70. Graco has a 1 year low of $31.02 and a 1 year high of $49.69. The firm has a market cap of $7,757.07, a price-to-earnings ratio of 32.76, a PEG ratio of 2.75 and a beta of 1.15.

Graco (NYSE:GGG) last posted its quarterly earnings results on Monday, January 29th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). Graco had a return on equity of 40.08% and a net margin of 17.12%. The firm had revenue of $374.90 million for the quarter, compared to the consensus estimate of $369.53 million. During the same period last year, the company posted $1.00 earnings per share. The business’s revenue was up 7.4% compared to the same quarter last year.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Graco by 213.0% in the fourth quarter. BlackRock Inc. now owns 14,002,690 shares of the industrial products company’s stock valued at $633,202,000 after purchasing an additional 9,529,107 shares during the period. Atlanta Capital Management Co. L L C raised its position in shares of Graco by 171.7% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 3,907,999 shares of the industrial products company’s stock valued at $176,720,000 after purchasing an additional 2,469,513 shares during the period. Gamco Investors INC. ET AL increased its position in Graco by 162.5% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,025,330 shares of the industrial products company’s stock worth $136,805,000 after acquiring an additional 1,872,855 shares during the period. Bank of New York Mellon Corp increased its position in Graco by 190.0% during the fourth quarter. Bank of New York Mellon Corp now owns 2,578,707 shares of the industrial products company’s stock worth $116,609,000 after acquiring an additional 1,689,416 shares during the period. Finally, Confluence Investment Management LLC increased its position in Graco by 195.2% during the fourth quarter. Confluence Investment Management LLC now owns 2,347,351 shares of the industrial products company’s stock worth $106,147,000 after acquiring an additional 1,552,175 shares during the period. 86.16% of the stock is currently owned by institutional investors.

In other news, VP Caroline M. Chambers sold 9,939 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.03, for a total value of $417,736.17. Following the transaction, the vice president now directly owns 30,615 shares of the company’s stock, valued at $1,286,748.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William J. Carroll sold 26,625 shares of the stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $46.67, for a total transaction of $1,242,588.75. The disclosure for this sale can be found here. Insiders sold 63,564 shares of company stock worth $2,965,505 over the last three months. Insiders own 5.10% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 2nd. Stockholders of record on Monday, April 16th will be given a $0.1325 dividend. This represents a $0.53 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, April 13th. Graco’s payout ratio is presently 37.06%.

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About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. Its Industrial segment offers proportioning systems that are used to spray polyurethane foam and polyurea coatings; vapor-abrasive blasting equipment; equipment that pumps, meters, mixes, and dispenses sealant, adhesive, and composite materials; and gel coat equipment, chop and wet-out systems, resin transfer molding systems, and applicators.

Earnings History and Estimates for Graco (NYSE:GGG)

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