SunTrust Banks Analysts Raise Earnings Estimates for Graco Inc. (GGG)

Graco Inc. (NYSE:GGG) – Analysts at SunTrust Banks boosted their Q2 2018 earnings per share (EPS) estimates for shares of Graco in a research note issued to investors on Thursday. SunTrust Banks analyst C. Brady now forecasts that the industrial products company will post earnings per share of $1.23 for the quarter, up from their previous forecast of $1.22. SunTrust Banks currently has a “Hold” rating and a $128.00 price target on the stock. SunTrust Banks also issued estimates for Graco’s Q3 2018 earnings at $1.24 EPS, FY2018 earnings at $4.63 EPS, Q1 2019 earnings at $1.13 EPS, Q2 2019 earnings at $1.31 EPS, Q3 2019 earnings at $1.32 EPS and FY2019 earnings at $4.97 EPS.

Graco (NYSE:GGG) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.06 by $0.09. Graco had a net margin of 7.72% and a return on equity of 42.05%. The business had revenue of $379.81 million during the quarter, compared to analyst estimates of $356.30 million. During the same quarter in the previous year, the business posted $0.95 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year.

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Several other analysts have also recently weighed in on the stock. Robert W. Baird reaffirmed a “hold” rating and issued a $135.00 target price on shares of Graco in a report on Friday. FBR & Co set a $140.00 target price on shares of Graco and gave the company a “hold” rating in a report on Thursday, October 26th. KeyCorp reaffirmed a “hold” rating on shares of Graco in a report on Friday, October 20th. BidaskClub cut shares of Graco from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Finally, Wolfe Research reaffirmed a “market perform” rating on shares of Graco in a report on Tuesday, August 1st. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Graco has an average rating of “Hold” and an average price target of $116.75.

Graco (NYSE GGG) traded up 0.64% during midday trading on Monday, hitting $131.59. 52,627 shares of the stock traded hands. The firm has a market cap of $7.37 billion, a P/E ratio of 83.50 and a beta of 1.25. The company’s 50-day moving average is $124.28 and its 200 day moving average is $113.88. Graco has a 12-month low of $73.40 and a 12-month high of $134.11.

A number of hedge funds have recently added to or reduced their stakes in the business. BB&T Corp raised its holdings in Graco by 0.4% during the second quarter. BB&T Corp now owns 2,567 shares of the industrial products company’s stock worth $280,000 after purchasing an additional 11 shares in the last quarter. Somerset Trust Co raised its holdings in Graco by 0.4% during the second quarter. Somerset Trust Co now owns 5,093 shares of the industrial products company’s stock worth $557,000 after purchasing an additional 21 shares in the last quarter. BB&T Securities LLC raised its holdings in Graco by 0.5% during the second quarter. BB&T Securities LLC now owns 6,930 shares of the industrial products company’s stock worth $757,000 after purchasing an additional 36 shares in the last quarter. Commerce Bank raised its holdings in Graco by 1.5% during the second quarter. Commerce Bank now owns 4,038 shares of the industrial products company’s stock worth $441,000 after purchasing an additional 60 shares in the last quarter. Finally, WCM Investment Management CA raised its holdings in Graco by 2.1% during the second quarter. WCM Investment Management CA now owns 3,695 shares of the industrial products company’s stock worth $404,000 after purchasing an additional 75 shares in the last quarter. 87.18% of the stock is currently owned by institutional investors.

In other Graco news, VP David M. Ahlers sold 22,500 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $120.01, for a total transaction of $2,700,225.00. Following the sale, the vice president now owns 42,047 shares of the company’s stock, valued at $5,046,060.47. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David M. Lowe sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $115.50, for a total transaction of $3,465,000.00. Following the sale, the insider now directly owns 164,809 shares in the company, valued at approximately $19,035,439.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,516 shares of company stock worth $10,298,479. 5.70% of the stock is owned by corporate insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Monday, October 16th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.10%. Graco’s payout ratio is currently 75.79%.

Graco Company Profile

Graco Inc designs, manufactures and markets systems and equipment used to move, measure, control, dispense and spray fluid and powder materials. The Company specializes in equipment for applications that involve materials with viscosities, materials with abrasive or corrosive properties, and multiple-component materials that require ratio control.

Earnings History and Estimates for Graco (NYSE:GGG)

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