Brokerages Set Graco Inc. (NYSE:GGG) Target Price at $93.00

Shares of Graco Inc. (NYSE:GGG) have been assigned an average recommendation of “Hold” from the five analysts that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $93.00.

A number of analysts have commented on GGG shares. Royal Bank of Canada lifted their price target on Graco from $93.00 to $97.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. DA Davidson set a $85.00 price target on Graco in a research report on Friday, January 31st. Finally, BNP Paribas raised Graco from a “neutral” rating to an “outperform” rating and set a $105.00 price target for the company in a research report on Thursday, December 19th.

Hedge Funds Weigh In On Graco

A number of institutional investors have recently modified their holdings of GGG. Golden State Wealth Management LLC purchased a new position in shares of Graco in the 4th quarter valued at about $25,000. Brooklyn Investment Group purchased a new position in shares of Graco in the 3rd quarter valued at about $30,000. TD Private Client Wealth LLC increased its stake in shares of Graco by 118.0% in the 4th quarter. TD Private Client Wealth LLC now owns 351 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 190 shares in the last quarter. National Pension Service purchased a new position in shares of Graco in the 4th quarter valued at about $34,000. Finally, Whipplewood Advisors LLC purchased a new position in shares of Graco in the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Graco Price Performance

Graco stock opened at $83.42 on Monday. The stock has a market capitalization of $14.03 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 2.85 and a beta of 0.83. Graco has a 1-year low of $77.49 and a 1-year high of $94.77. The business has a fifty day moving average price of $84.95 and a 200-day moving average price of $85.51.

Graco (NYSE:GGG) last issued its quarterly earnings results on Monday, January 27th. The industrial products company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.13). Graco had a return on equity of 19.38% and a net margin of 23.00%. On average, equities research analysts anticipate that Graco will post 3.06 earnings per share for the current fiscal year.

Graco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 7th. Shareholders of record on Monday, April 14th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Monday, April 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.32%. Graco’s payout ratio is currently 39.01%.

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 Contractor segment offers sprayers to apply paint to walls and other structures; two-component proportioning systems that are used to spray polyurethane foam and polyurea coatings; and viscous coatings to roofs, as well as markings on roads, parking lots, athletic fields, and floors.