Graco (NYSE:GGG) released its earnings results on Wednesday, April 25th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.07, Bloomberg Earnings reports. The company had revenue of $406.30 million for the quarter, compared to the consensus estimate of $369.61 million. Graco had a net margin of 17.99% and a return on equity of 41.12%. Graco’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 EPS.
Shares of Graco stock opened at $46.09 on Friday. Graco has a 12 month low of $45.73 and a 12 month high of $45.99. The company has a quick ratio of 1.60, a current ratio of 2.55 and a debt-to-equity ratio of 0.39. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 32.23, a PEG ratio of 2.35 and a beta of 1.15.
Several analysts have recently issued reports on GGG shares. ValuEngine lowered shares of Graco from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. DA Davidson initiated coverage on shares of Graco in a report on Thursday, April 12th. They issued a “neutral” rating and a $48.00 price target on the stock. Zacks Investment Research raised shares of Graco from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Saturday, February 3rd. SunTrust Banks reissued a “hold” rating and issued a $45.00 price target on shares of Graco in a report on Wednesday, January 31st. 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 report on Tuesday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Graco has an average rating of “Hold” and an average price target of $47.30.
In other Graco news, Director Eric Etchart sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $43.83, for a total transaction of $657,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William J. Carroll sold 26,625 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $46.67, for a total value of $1,242,588.75. The disclosure for this sale can be found here. Insiders have sold 278,295 shares of company stock valued at $12,588,756 over the last 90 days. Corporate insiders own 5.10% of the company’s stock.
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.
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