Gorman-Rupp (NYSE:GRC – Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday, Wall Street Zen reports.
A number of other equities analysts also recently weighed in on GRC. Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a report on Wednesday, September 9th. Zacks Research downgraded Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold”.
Check Out Our Latest Stock Analysis on GRC
Gorman-Rupp Stock Performance
NYSE:GRC opened at $71.96 on Friday. The company has a current ratio of 2.70, a quick ratio of 1.82 and a debt-to-equity ratio of 0.54. The stock’s 50-day moving average is $74.42 and its 200-day moving average is $72.32. Gorman-Rupp has a 1-year low of $42.31 and a 1-year high of $92.78. The stock has a market cap of $1.90 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 1.92 and a beta of 1.28.
Gorman-Rupp (NYSE:GRC – Get Free Report) last posted its quarterly earnings data on Friday, October 23rd. The industrial products company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.70 by $0.16. The firm had revenue of $193.25 million during the quarter, compared to analyst estimates of $181.55 million. Gorman-Rupp had a return on equity of 17.13% and a net margin of 10.20%. Equities research analysts anticipate that Gorman-Rupp will post 2.88 earnings per share for the current year.
Insider Buying and Selling
In other news, VP D. Patrick Wischmeier sold 5,153 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $77.62, for a total value of $399,975.86. Following the sale, the vice president directly owned 1,409 shares of the company’s stock, valued at $109,366.58. This represents a 78.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Gorman-Rupp
Large investors have recently made changes to their positions in the business. Amundi lifted its holdings in Gorman-Rupp by 14.4% during the 2nd quarter. Amundi now owns 140,446 shares of the industrial products company’s stock worth $12,885,000 after buying an additional 17,722 shares during the period. Principal Financial Group Inc. acquired a new stake in Gorman-Rupp in the 1st quarter worth about $923,000. First Trust Advisors LP boosted its position in shares of Gorman-Rupp by 326.1% during the 1st quarter. First Trust Advisors LP now owns 524,400 shares of the industrial products company’s stock worth $32,581,000 after acquiring an additional 401,340 shares in the last quarter. Bank of America Corp DE lifted its holdings in Gorman-Rupp by 1,056.7% in the 1st quarter. Bank of America Corp DE now owns 302,230 shares of the industrial products company’s stock valued at $18,778,000 after purchasing an additional 276,101 shares in the last quarter. Finally, PVG Asset Management Corp bought a new position in Gorman-Rupp during the 1st quarter worth approximately $844,000. Institutional investors and hedge funds own 59.26% of the company’s stock.
About Gorman-Rupp
Gorman-Rupp Co designs, manufactures and sells pumps and pumping systems for moving water and other liquids. Its product portfolio includes self-priming centrifugal pumps, standard centrifugal pumps, submersible pumps, rotary gear pumps, diaphragm pumps and related pumping equipment.
The company serves a range of markets, including municipal water and wastewater treatment, construction, agriculture, industrial operations, petroleum, fire protection and emergency services. Its products are used in applications such as sewage handling, flood control, dewatering, irrigation and general fluid transfer.
Founded in 1933 by J.C.
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