Share Buyback Plan Authorized by Graco (NYSE:GGG) Board of Directors

Graco (NYSE:GGG - Get Free Report) declared that its Board of Directors has approved a share repurchase plan on Friday, December 5th, RTT News reports. The company plans to buyback 15,000,000 shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.Analyst Ratings ChangesGGG has been the topic of a number of research reports. Weiss Ratings downgraded Graco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Saturday, October 25th. Robert W. Baird set a $89.00 target price on shares of Graco in a report on Friday, October 24th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Graco in a research note on Thursday, October 23rd. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Graco currently has an average rating of "Moderate Buy" and a consensus price target of $94.00.Read Our Latest Research Report on GracoGraco Trading Down 0.0%NYSE:GGG traded down $0.03 during midday trading on Friday, hitting $83.39. 592,871 shares of the company traded hands, compared to its average volume of 858,492. The firm's fifty day moving average is $82.13 and its 200-day moving average is $84.22. The firm has a market capitalization of $13.82 billion, a P/E ratio of 28.46, a P/E/G ratio of 2.80 and a beta of 1.09. Graco has a 12-month low of $72.06 and a 12-month high of $91.00. Graco (NYSE:GGG - Get Free Report) last announced its earnings results on Wednesday, October 22nd. The industrial products company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). The firm had revenue of $543.36 million during the quarter, compared to analysts' expectations of $563.07 million. Graco had a net margin of 22.72% and a return on equity of 18.89%. The company's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS. On average, research analysts expect that Graco will post 3.06 EPS for the current fiscal year. Graco Announces DividendThe company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Shareholders of record on Monday, October 20th were paid a $0.275 dividend. The ex-dividend date of this dividend was Monday, October 20th. This represents a $1.10 annualized dividend and a yield of 1.3%. Graco's dividend payout ratio (DPR) is presently 37.54%. About Graco Get Free Report)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.Read MoreFive stocks we like better than Graco3 Home Improvement Stocks that Can Upgrade Your PortfolioUlta’s Stock May Be Set for a Glow-Up—20% Upside Ahead?How to Invest in the Best Canadian Stocks Gates Foundation Sells MSFT Stock—Should Investors Be Worried?How to Choose Top Rated StocksMarketBeat Week in Review – 12/1 - 12/5This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Graco Right Now?Before you consider Graco, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Graco wasn't on the list.While Graco currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here