Graco Inc. (GGG) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Graco Inc. (NYSE:GGG) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

According to Zacks, “Graco Inc. supplies technology and expertise for the management of fluids in both industrial and commercial settings. Based in Minneapolis, Minnesota, Graco serves customers around the world in the manufacturing, processing, construction and maintenance industries. It designs, manu-factures and markets systems and equipment to move, measure, control, dispense and apply fluid materials. The Company helps customers solve difficult manufacturing problems, increase productivity, improve quality, conserve energy, and save expensive materials. “

Other equities analysts have also issued reports about the stock. William Blair lowered shares of Graco from an outperform rating to a market perform rating and cut their price objective for the company from $89.00 to $78.00 in a report on Thursday, July 21st. Deutsche Bank AG started coverage on shares of Graco in a report on Tuesday, September 6th. They set a hold rating and a $83.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and eight have assigned a hold rating to the stock. Graco currently has a consensus rating of Hold and a consensus target price of $83.75.

Shares of Graco (NYSE:GGG) opened at 71.92 on Wednesday. Graco has a 52 week low of $63.05 and a 52 week high of $86.62. The firm’s 50-day moving average is $73.38 and its 200-day moving average is $77.40. The stock has a market capitalization of $4.00 billion, a price-to-earnings ratio of 21.20 and a beta of 1.51.

Graco (NYSE:GGG) last issued its earnings results on Wednesday, July 20th. The company reported $0.89 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.11. The company had revenue of $348.10 million for the quarter, compared to analysts’ expectations of $352.49 million. Graco had a return on equity of 30.04% and a net margin of 15.01%. The business’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $1.05 earnings per share. Analysts forecast that Graco will post $3.37 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Monday, October 17th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $1.32 annualized dividend and a yield of 1.84%. Graco’s dividend payout ratio (DPR) is 38.94%.

In other Graco news, insider Patrick J. Mchale sold 11,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $74.19, for a total value of $853,185.00. Following the completion of the sale, the insider now directly owns 142,230 shares in the company, valued at $10,552,043.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.60% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the stock. Park National Corp OH increased its stake in Graco by 0.4% in the second quarter. Park National Corp OH now owns 2,733 shares of the company’s stock valued at $216,000 after buying an additional 11 shares during the last quarter. Raymond James Trust N.A. increased its position in Graco by 0.7% in the third quarter. Raymond James Trust N.A. now owns 2,894 shares of the company’s stock worth $214,000 after buying an additional 19 shares in the last quarter. Hsbc Holdings PLC increased its position in Graco by 1.4% in the second quarter. Hsbc Holdings PLC now owns 2,675 shares of the company’s stock worth $211,000 after buying an additional 36 shares in the last quarter. Creative Planning increased its position in Graco by 4.4% in the third quarter. Creative Planning now owns 1,413 shares of the company’s stock worth $105,000 after buying an additional 59 shares in the last quarter. Finally, Carlson Capital Management increased its position in Graco by 1.0% in the third quarter. Carlson Capital Management now owns 6,318 shares of the company’s stock worth $468,000 after buying an additional 60 shares in the last quarter. Institutional investors own 90.53% of the company’s stock.

Graco Company Profile

Graco Inc (Graco) is a manufacturing company. The Company designs, manufactures and markets equipment to pump, meter, mix and dispense fluid and powder materials. The Company operates through three segments: Industrial, Process and Contractor. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints, coatings, sealants, adhesives and other fluids.

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