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Graco (GGG) Hits 52-Week High on Upbeat Q4 Results and View
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Shares of Graco Inc. (GGG - Free Report) reached a new 52-week high of $91.23 during its trading session on Feb 10. This apex improved upon the last 52-week high of $91.22 on Feb 6.
Over the last one month, shares of the company yielded 5.38% return, outperforming the gain of 3.33% seen by the Zacks categorized Machinery General Industrial industry.
On Feb 10, Graco closed its trading session at $91.01, yielding year-to-date return of roughly 10%. The trading volume for the session was 0.13 million shares. Positive earnings estimate revisions for 2017 and 2018, along with an expected earnings growth rate of 10.3% for the next five years indicate the stock’s potential for further price appreciation.
Growth Drivers
Graco’s financial performance has been impressive in the last quarter, as evident from a positive earnings surprise of 17.65%. In fourth-quarter 2016, the company’s earnings of $1.00 per share surpassed the Zacks Consensus Estimate of 85 cents. Revenues grew 7% year over year on the back of 4% growth in Industrial segment’s sales, 2% in Process sales and 17% in Contractor sales. The positive impacts of 7% from volume and price and 1% from acquisitions were partially offset by 1% negative impact of forex woes.
In 2017, Graco anticipates benefiting from a solid product portfolio, research and development and a large customer base. The company predicts organic revenues to grow in low single-digits worldwide, including low single-digit sales growth in the Americas, Asia Pacific and EMEA. Also, the company anticipates mid single-digit sales growth in Contractor segment.
Estimate Revisions Show Potency
Over the last 30 days, the Zacks Consensus Estimate for Graco grew 8% to $3.72 per share for 2017 and 2.8% to $4.01 for 2018. The earnings estimates represent year-over-year growth of 4.8% for 2017 and 7.7% for 2018.
With a market capitalization of approximately $5.1 billion, Graco currently carries a Zacks Rank #2 (Buy). Other stocks worth considering in the industry include Chart Industries, Inc. (GTLS - Free Report) , Manitex International, Inc. (MNTX - Free Report) and Applied Industrial Technologies, Inc. (AIT - Free Report) . While both Chart Industries and Manitex International sport a Zacks Rank #1(Strong Buy), Applied Industrial Technologies carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Chart Industries, Inc.’s financial performance has been impressive in the last four quarters, with an average positive earnings surprise of 548.51%.
Manitex International, Inc. reported better-than-expected results in the last quarter, with a positive earnings surprise of 225%. Also, bottom-line expectations for 2017 improved over the past 60 days.
Applied Industrial Technologies, Inc.’s earnings estimates for fiscal 2017 and fiscal 2018 improved over the last 60 days. Its financial performance has been impressive in the last four quarters, with an average positive earnings surprise of 6.18%.
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Graco (GGG) Hits 52-Week High on Upbeat Q4 Results and View
Shares of Graco Inc. (GGG - Free Report) reached a new 52-week high of $91.23 during its trading session on Feb 10. This apex improved upon the last 52-week high of $91.22 on Feb 6.
Over the last one month, shares of the company yielded 5.38% return, outperforming the gain of 3.33% seen by the Zacks categorized Machinery General Industrial industry.
On Feb 10, Graco closed its trading session at $91.01, yielding year-to-date return of roughly 10%. The trading volume for the session was 0.13 million shares. Positive earnings estimate revisions for 2017 and 2018, along with an expected earnings growth rate of 10.3% for the next five years indicate the stock’s potential for further price appreciation.
Growth Drivers
Graco’s financial performance has been impressive in the last quarter, as evident from a positive earnings surprise of 17.65%. In fourth-quarter 2016, the company’s earnings of $1.00 per share surpassed the Zacks Consensus Estimate of 85 cents. Revenues grew 7% year over year on the back of 4% growth in Industrial segment’s sales, 2% in Process sales and 17% in Contractor sales. The positive impacts of 7% from volume and price and 1% from acquisitions were partially offset by 1% negative impact of forex woes.
In 2017, Graco anticipates benefiting from a solid product portfolio, research and development and a large customer base. The company predicts organic revenues to grow in low single-digits worldwide, including low single-digit sales growth in the Americas, Asia Pacific and EMEA. Also, the company anticipates mid single-digit sales growth in Contractor segment.
Estimate Revisions Show Potency
Over the last 30 days, the Zacks Consensus Estimate for Graco grew 8% to $3.72 per share for 2017 and 2.8% to $4.01 for 2018. The earnings estimates represent year-over-year growth of 4.8% for 2017 and 7.7% for 2018.
Graco Inc. Price and Consensus
Graco Inc. Price and Consensus | Graco Inc. Quote
With a market capitalization of approximately $5.1 billion, Graco currently carries a Zacks Rank #2 (Buy). Other stocks worth considering in the industry include Chart Industries, Inc. (GTLS - Free Report) , Manitex International, Inc. (MNTX - Free Report) and Applied Industrial Technologies, Inc. (AIT - Free Report) . While both Chart Industries and Manitex International sport a Zacks Rank #1(Strong Buy), Applied Industrial Technologies carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Chart Industries, Inc.’s financial performance has been impressive in the last four quarters, with an average positive earnings surprise of 548.51%.
Manitex International, Inc. reported better-than-expected results in the last quarter, with a positive earnings surprise of 225%. Also, bottom-line expectations for 2017 improved over the past 60 days.
Applied Industrial Technologies, Inc.’s earnings estimates for fiscal 2017 and fiscal 2018 improved over the last 60 days. Its financial performance has been impressive in the last four quarters, with an average positive earnings surprise of 6.18%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>