Yahoo Finance Graco (GGG) Introduces New Line of Disinfectant Sprayer
Graco Inc. GGG unveiled the new line of SaniSpray HP airless sprayers. Dubbed as user-friendly, the SaniSpray HP products help in improving the speed and efficiency of cleaning, disinfecting and deodorization tasks.
The company’s SaniSpray HP products are developed with high-grade materials, making it suitable for use with List-N disinfectants. This allows frontline workers to use the airless sprayers in the fight against the SARS-CoV-2, which causes the infectious coronavirus disease. Also, the sprayers help in delivering the proper particle atomization and specified disinfectant dwell times on all surfaces.
Notably, the new line of the company’s disinfectant sprayers comprises various sprayers, including handheld SaniSpray HP 20 (corded and cordless), portable SaniSpray HP 65 and SaniSpray HP 130.
The launch is in sync with Graco’s policy of investing in product innovation. Early this month, the company launched three high-production GrindLazer drum scarifiers to help in performing heavy-duty tasks like grooving, leveling, inlay, scarifying and stripping coatings. Also, in June 2020, it launched the E-Flo iQ adhesive and sealant dispense system. Developed to boost efficiency in manufacturing processes across several industries, the single-component system also enables manufacturers in reducing costs of operations.
Zacks Rank, Price Performance and Estimate Trend
Graco, with a $7.9-billion market capitalization, currently carries a Zacks Rank #4 (Sell). In the first quarter of 2020, the company's organic sales recorded a year-over-year decline of 8%. The decline was due to weak sales performance in the Americas, EMEA and Asia regions. For 2020, the company suspended its revenue projections on account of the economic uncertainties caused by the coronavirus pandemic.
In the past three months, the company’s shares have lost 0.7% against the industry’s growth of 12.9%.
Analysts have become increasingly bearish about Graco over the past 60 days. The company’s earnings estimates for 2020 have decreased from $1.35 to $1.32 on one downward estimate revision against none upward.
Stocks to Consider
Some better-ranked stocks from the same space are Altra Industrial Motion Corp. AIMC, Chart Industries, Inc. GTLS and Ingersoll Rand Inc. IR. All the companies currently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Altra Industrial delivered a positive earnings surprise of 9.78%, on average, in the trailing four quarters.
Chart Industries delivered a positive earnings surprise of 1.41%, on average, in the trailing four quarters.
Ingersoll Rand delivered a positive earnings surprise of 3.47%, on average, in the trailing four quarters.
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