Graco (GGG) Releases Earnings Results, Beats Expectations By $0.06 EPS

Graco (GGG) announced its most recent quarterly financial results on Wednesday, Oct-19-2016. GGG said it had a profit of $0.95 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.89. The company posted revenue of $327.19 million in the period, compared to analysts expectations of $331.55 million. GGG’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.

Many Wall Street Analysts have commented on Graco. Deutsche Bank Initiated Graco on Sep 7, 2016 to “Hold”, Price Target of the shares are set at $83.

Graco opened for trading at $71.57 and hit $71.89 on the upside on Friday, eventually ending the session at $71.42, with a gain of 0.46% or 0.33 points. The heightened volatility saw the trading volume jump to 1,97,425 shares. Company has a market cap of $3,977 M.

In a different news, on Sep 8, 2016, Patrick J Mchale (President and CEO) sold 11,500 shares at $74.19 per share price. According to the SEC, on Jun 3, 2016, Charles L Rescorla (Vice President) sold 22,500 shares at $81.73 per share price. On May 12, 2016, Sant R William Van (director) sold 14,700 shares at $81.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Graco Inc. (Graco) is a manufacturing company. The Company designs manufactures and markets equipment to pump meter mix and dispense a variety of fluids and coatings. Its equipment is used in the construction automotive industrial mining oil and natural gas process public works and other industries. The Company operates in three segments: Industrial Contractor and Lubrication. The Industrial segment markets equipment and pre-engineered packages for moving and applying paints coatings sealants adhesives and other fluids. The Contractor segment markets sprayers for architectural coatings for painting corrosion control texture and line striping. The Lubrication segment markets products to move and dispense lubricants for service garages fleet service centers automobile dealerships the mining industry and industrial lubrication applications. Graco sells its products in North Central and South America Europe Middle East and Africa and Asia Pacific.

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