Zacks Research upgraded shares of Gorman-Rupp (NYSE:GRC – Free Report) from a hold rating to a strong-buy rating in a research note released on Wednesday morning,Zacks.com reports.
Several other equities research analysts have also commented on the company. Freedom Capital raised Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. Wall Street Zen raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings cut Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Gorman-Rupp presently has an average rating of “Buy”.
Check Out Our Latest Research Report on Gorman-Rupp
Gorman-Rupp Stock Performance
Gorman-Rupp (NYSE:GRC – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.19. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. The firm had revenue of $176.59 million for the quarter, compared to the consensus estimate of $170.61 million. Analysts expect that Gorman-Rupp will post 2.6 earnings per share for the current fiscal year.
Institutional Trading of Gorman-Rupp
Several large investors have recently modified their holdings of the business. Huntington National Bank acquired a new position in shares of Gorman-Rupp during the 4th quarter worth approximately $31,000. NewEdge Advisors LLC increased its position in Gorman-Rupp by 130.7% during the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock worth $32,000 after buying an additional 379 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Gorman-Rupp in the first quarter worth $89,000. Fifth Third Bancorp raised its holdings in shares of Gorman-Rupp by 14.1% in the first quarter. Fifth Third Bancorp now owns 1,461 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 180 shares during the last quarter. Finally, Osaic Holdings Inc. raised its holdings in shares of Gorman-Rupp by 125.0% in the second quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 939 shares during the last quarter. 59.26% of the stock is currently owned by institutional investors and hedge funds.
Gorman-Rupp Company Profile
Gorman-Rupp Company is a U.S.-based manufacturer specializing in the design, production and distribution of pumps and pumping systems. Its product lineup includes centrifugal self-priming pumps, submersible pumps, vacuum priming pumps and engineered pumps for applications such as water and wastewater management, sewage handling, dewatering, industrial processing and agricultural irrigation. The company supports both standard pump requirements and custom engineered solutions for original equipment manufacturers (OEMs) and municipal clients.
Headquartered in Mansfield, Ohio, Gorman-Rupp has built a reputation for rugged, reliable equipment and aftermarket support services.
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