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Graco Inc. (GGG) closed the most recent trading day at $62.71, moving -0.93% from the previous trading session. This change lagged the S&P 500's 0.75% loss on the day. At the same time, the Dow lost 0.54%, and the tech-heavy Nasdaq gained 0.15%.
Heading into today, shares of the company had gained 1.18% over the past month, outpacing the Industrial Products sector's loss of 0.95% and the S&P 500's gain of 0.32% in that time.
Wall Street will be looking for positivity from Graco Inc. as it approaches its next earnings report date. The company is expected to report EPS of $0.68, up 9.68% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $537.53 million, up 5.99% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.64 per share and revenue of $2.12 billion. These totals would mark changes of +8.2% and +6.72%, respectively, from last year.
Any recent changes to analyst estimates for Graco Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.64% lower. Graco Inc. is currently a Zacks Rank #3 (Hold).
Digging into valuation, Graco Inc. currently has a Forward P/E ratio of 23.95. For comparison, its industry has an average Forward P/E of 17.39, which means Graco Inc. is trading at a premium to the group.
Also, we should mention that GGG has a PEG ratio of 2.99. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Manufacturing - General Industrial was holding an average PEG ratio of 1.66 at yesterday's closing price.
The Manufacturing - General Industrial industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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