Zacks Research Upgrades Gorman-Rupp (NYSE:GRC) to Strong-Buy

Gorman-Rupp (NYSE:GRC) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages have also weighed in on GRC. Freedom Capital upgraded 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 report on Saturday, May 2nd. Finally, Weiss Ratings cut Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, June 12th. One 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.com, the stock has a consensus rating of “Buy”.

Gorman-Rupp Stock Down 0.4%

Shares of Gorman-Rupp stock opened at $79.76 on Wednesday. Gorman-Rupp has a 1-year low of $37.50 and a 1-year high of $92.78. The company has a market capitalization of $2.11 billion, a PE ratio of 35.77, a P/E/G ratio of 2.37 and a beta of 1.28. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.93 and a quick ratio of 1.76. The business has a 50-day moving average of $80.58 and a 200-day moving average of $69.31.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.49 by $0.19. The business had revenue of $176.59 million for the quarter, compared to analysts’ expectations of $170.61 million. Gorman-Rupp had a return on equity of 15.08% and a net margin of 8.45%. As a group, equities analysts forecast that Gorman-Rupp will post 2.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Gorman-Rupp

Several large investors have recently modified their holdings of GRC. Huntington National Bank acquired a new position in Gorman-Rupp in the fourth quarter worth about $31,000. NewEdge Advisors LLC increased its holdings in Gorman-Rupp by 130.7% in the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock valued at $32,000 after buying an additional 379 shares during the last quarter. Osaic Holdings Inc. raised its stake in Gorman-Rupp by 125.0% during the second quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock valued at $62,000 after buying an additional 939 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Gorman-Rupp by 135.2% during the second quarter. Tower Research Capital LLC TRC now owns 2,053 shares of the industrial products company’s stock valued at $75,000 after buying an additional 1,180 shares in the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in Gorman-Rupp during the 1st quarter worth approximately $89,000. Institutional investors own 59.26% of the company’s stock.

About Gorman-Rupp

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.