Gorman-Rupp (NYSE:GRC) Announces Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Gorman-Rupp (NYSE:GRC) issued its quarterly earnings results on Friday. The industrial products company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.70 by $0.16, Zacks reports. The firm had revenue of $193.25 million during the quarter, compared to analyst estimates of $181.55 million. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%.

Gorman-Rupp Trading Up 4.5%

NYSE GRC traded up $3.17 during mid-day trading on Friday, hitting $73.30. The company’s stock had a trading volume of 175,529 shares, compared to its average volume of 166,610. The firm has a market capitalization of $1.94 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 2.13 and a beta of 1.32. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.81 and a quick ratio of 1.82. Gorman-Rupp has a 52-week low of $42.31 and a 52-week high of $92.78. The stock’s fifty day simple moving average is $74.96 and its two-hundred day simple moving average is $77.15.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GRC shares. Zacks Research cut shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. Wall Street Zen lowered Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Gorman-Rupp in a research report on Wednesday, September 9th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold”.

Insider Transactions at Gorman-Rupp

In other news, VP D. Patrick Wischmeier sold 5,153 shares of the 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 completion of the sale, the vice president owned 1,409 shares of the company’s stock, valued at $109,366.58. This represents a 78.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.60% of the stock is currently owned by corporate insiders.

Gorman-Rupp Company Profile

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.