Equities Analysts Set Expectations for Graco Inc.’s Q3 2022 Earnings (NYSE:GGG)

Graco Inc. (NYSE:GGG – Get Rating) – Investment analysts at Oppenheimer lowered their Q3 2022 earnings per share estimates for shares of Graco in a research report issued to clients and investors on Monday, August 1st. Oppenheimer analyst B. Blair now expects that the industrial products company will post earnings of $0.63 per share for the quarter, down from their prior forecast of $0.67. The consensus estimate for Graco’s current full-year earnings is $2.60 per share. Oppenheimer also issued estimates for Graco’s Q4 2022 earnings at $0.70 EPS, FY2022 earnings at $2.57 EPS and FY2023 earnings at $2.80 EPS.

Graco (NYSE:GGG – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The industrial products company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.01. Graco had a return on equity of 25.73% and a net margin of 21.38%. The business had revenue of $548.55 million for the quarter, compared to the consensus estimate of $533.49 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. Graco’s revenue for the quarter was up 8.2% compared to the same quarter last year.

Other analysts have also recently issued research reports about the company. Morgan Stanley reduced their price target on Graco from $80.00 to $70.00 and set an “equal weight” rating for the company in a research report on Thursday, June 9th. DA Davidson reaffirmed a “neutral” rating on shares of Graco in a research report on Thursday, April 28th. Robert W. Baird cut Graco from an “outperform” rating to a “neutral” rating and set a $61.00 price target for the company. in a research report on Thursday, July 14th. Finally, StockNews.com cut Graco from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $71.33.

Graco Stock Performance

Shares of NYSE GGG opened at $67.18 on Wednesday. The business’s 50-day moving average price is $61.22 and its two-hundred day moving average price is $65.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.01 and a quick ratio of 1.95. Graco has a one year low of $56.48 and a one year high of $81.09. The company has a market capitalization of $11.36 billion, a P/E ratio of 26.45, a price-to-earnings-growth ratio of 3.22 and a beta of 0.78.

Graco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 3rd. Stockholders of record on Monday, July 18th were paid a $0.21 dividend. The ex-dividend date was Friday, July 15th. This represents a $0.84 annualized dividend and a dividend yield of 1.25%. Graco’s dividend payout ratio is currently 33.07%.

Insider Activity

In other news, Director Eric Etchart sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $67.20, for a total value of $403,200.00. Following the sale, the director now directly owns 31,403 shares in the company, valued at approximately $2,110,281.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.52% of the company’s stock.

Institutional Investors Weigh In On Graco

Large investors have recently bought and sold shares of the business. Van ECK Associates Corp acquired a new position in Graco during the 2nd quarter worth $312,000. Nisa Investment Advisors LLC lifted its holdings in Graco by 1.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 88,095 shares of the industrial products company’s stock worth $5,234,000 after buying an additional 1,625 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Graco by 8.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 122,986 shares of the industrial products company’s stock worth $7,313,000 after buying an additional 9,704 shares in the last quarter. AE Wealth Management LLC lifted its holdings in Graco by 0.9% during the 2nd quarter. AE Wealth Management LLC now owns 23,908 shares of the industrial products company’s stock worth $1,420,000 after buying an additional 211 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in Graco by 376.5% during the 2nd quarter. Assetmark Inc. now owns 1,520 shares of the industrial products company’s stock worth $90,000 after buying an additional 1,201 shares in the last quarter. 84.53% of the stock is currently owned by institutional investors.

Graco Company Profile

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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, and precision dispensing solutions.

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