Zacks: Brokerages Anticipate Graco Inc. (NYSE:GGG) Will Announce Quarterly Sales of $477.58 Million

Wall Street analysts expect Graco Inc. (NYSE:GGG) to announce $477.58 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Graco’s earnings. The lowest sales estimate is $461.60 million and the highest is $489.79 million. Graco reported sales of $366.89 million in the same quarter last year, which would suggest a positive year over year growth rate of 30.2%. The business is scheduled to issue its next earnings results on Wednesday, July 28th.

According to Zacks, analysts expect that Graco will report full year sales of $1.91 billion for the current financial year, with estimates ranging from $1.88 billion to $1.97 billion. For the next year, analysts expect that the company will post sales of $2.02 billion, with estimates ranging from $1.96 billion to $2.09 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Graco.

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

A number of equities analysts have weighed in on GGG shares. Royal Bank of Canada upped their target price on Graco from $81.00 to $89.00 and gave the stock an “outperform” rating in a research note on Friday, April 23rd. Morgan Stanley upped their price objective on Graco from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, April 23rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Graco presently has a consensus rating of “Buy” and an average target price of $76.00.

NYSE GGG traded down $0.22 during trading on Friday, reaching $73.48. The company’s stock had a trading volume of 343,199 shares, compared to its average volume of 715,360. The company has a market capitalization of $12.45 billion, a PE ratio of 34.99, a PEG ratio of 3.78 and a beta of 0.59. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.48 and a quick ratio of 2.52. The stock has a fifty day moving average of $75.50. Graco has a one year low of $45.48 and a one year high of $79.37.

In related news, insider Christian E. Rothe sold 59,340 shares of the stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lee R. Mitau sold 18,000 shares of the stock in a transaction dated Tuesday, April 27th. The shares were sold at an average price of $77.02, for a total value of $1,386,360.00. Following the sale, the director now owns 184,262 shares of the company’s stock, valued at $14,191,859.24. The disclosure for this sale can be found here. Insiders sold a total of 101,737 shares of company stock valued at $7,420,714 over the last quarter. Company insiders own 3.63% of the company’s stock.

A number of hedge funds have recently modified their holdings of GGG. Norges Bank purchased a new stake in Graco during the 4th quarter valued at about $121,178,000. Assenagon Asset Management S.A. purchased a new stake in Graco during the 1st quarter valued at about $100,828,000. BlackRock Inc. raised its position in Graco by 5.2% during the 1st quarter. BlackRock Inc. now owns 15,076,493 shares of the industrial products company’s stock valued at $1,079,778,000 after purchasing an additional 750,000 shares during the last quarter. WCM Investment Management LLC raised its position in Graco by 17.2% during the 4th quarter. WCM Investment Management LLC now owns 4,708,607 shares of the industrial products company’s stock valued at $340,668,000 after purchasing an additional 689,880 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in Graco during the 1st quarter valued at approximately $44,287,000. Institutional investors own 84.19% of the company’s stock.

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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Earnings History and Estimates for Graco (NYSE:GGG)

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