$0.60 EPS Expected for Graco Inc. (NYSE:GGG) This Quarter

Brokerages expect Graco Inc. (NYSE:GGG) to announce $0.60 earnings per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Graco’s earnings. The highest EPS estimate is $0.64 and the lowest is $0.56. Graco posted earnings per share of $0.37 in the same quarter last year, which would suggest a positive year-over-year growth rate of 62.2%. The company is expected to announce its next earnings results on Wednesday, July 28th.

According to Zacks, analysts expect that Graco will report full-year earnings of $2.47 per share for the current year, with EPS estimates ranging from $2.37 to $2.61. For the next year, analysts expect that the company will post earnings of $2.66 per share, with EPS estimates ranging from $2.55 to $2.81. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Graco.

Graco (NYSE:GGG) last released its quarterly earnings results on Tuesday, April 20th. The industrial products company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. Graco had a net margin of 20.99% and a return on equity of 30.60%. The company had revenue of $454.10 million during the quarter, compared to the consensus estimate of $426.13 million. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s quarterly revenue was up 21.5% on a year-over-year basis.

GGG has been the subject of several research analyst reports. Royal Bank of Canada boosted their price objective on shares of Graco from $81.00 to $89.00 and gave the company an “outperform” rating in a research report on Friday, April 23rd. Morgan Stanley boosted their price objective on shares of Graco from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, April 23rd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Graco has a consensus rating of “Buy” and an average price target of $76.00.

In related news, insider Dale D. Johnson sold 19,297 shares of the business’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $77.05, for a total value of $1,486,833.85. Following the sale, the insider now owns 194,105 shares of the company’s stock, valued at $14,955,790.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Christian E. Rothe sold 59,340 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $70.00, for a total transaction of $4,153,800.00. Following the completion of the sale, the insider now directly owns 51,728 shares in the company, valued at approximately $3,620,960. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,737 shares of company stock worth $7,420,714. Insiders own 3.63% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Fieldpoint Private Securities LLC acquired a new position in Graco in the fourth quarter valued at $154,000. CQS US LLC raised its holdings in shares of Graco by 243.2% during the first quarter. CQS US LLC now owns 117,240 shares of the industrial products company’s stock valued at $8,396,000 after purchasing an additional 83,081 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Graco by 1.7% during the first quarter. Alliancebernstein L.P. now owns 276,995 shares of the industrial products company’s stock valued at $19,838,000 after purchasing an additional 4,643 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Graco by 27.7% during the fourth quarter. Public Employees Retirement System of Ohio now owns 84,338 shares of the industrial products company’s stock valued at $6,102,000 after purchasing an additional 18,314 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Graco by 12.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 42,504 shares of the industrial products company’s stock valued at $3,044,000 after purchasing an additional 4,798 shares during the period. 84.19% of the stock is currently owned by institutional investors.

GGG traded down $0.22 during trading on Thursday, hitting $73.48. 343,199 shares of the stock traded hands, compared to its average volume of 715,360. Graco has a twelve month low of $45.48 and a twelve month high of $79.37. The firm has a market cap of $12.45 billion, a P/E ratio of 34.99, a price-to-earnings-growth ratio of 3.78 and a beta of 0.59. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.52 and a current ratio of 3.48. The business’s 50 day moving average is $75.50.

About Graco

Graco Inc designs, manufactures, and markets systems and equipment used to move, measure, control, dispense, and spray fluid and powder materials worldwide. The company's Industrial segment offers proportioning systems to spray polyurethane foam and polyurea coatings; 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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