Gorman-Rupp (NYSE:GRC) Rating Lowered to Buy at Wall Street Zen

Gorman-Rupp (NYSE:GRC) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

A number of other equities analysts also recently weighed in on the stock. Zacks Research raised shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Freedom Capital upgraded Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. Finally, Weiss Ratings downgraded 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 assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy”.

Gorman-Rupp Stock Up 0.0%

Shares of Gorman-Rupp stock opened at $83.81 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.81 and a quick ratio of 1.82. The company has a 50-day moving average of $82.55 and a 200 day moving average of $71.74. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 35.36, a PEG ratio of 2.41 and a beta of 1.29. Gorman-Rupp has a 1 year low of $40.74 and a 1 year high of $92.78.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings results on Friday, July 24th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. Gorman-Rupp had a net margin of 8.88% and a return on equity of 15.55%. The company had revenue of $186.07 million during the quarter, compared to analysts’ expectations of $188.89 million. As a group, sell-side analysts anticipate that Gorman-Rupp will post 2.67 earnings per share for the current fiscal year.

Institutional Trading of Gorman-Rupp

Institutional investors and hedge funds have recently bought and sold shares of the company. Huntington National Bank bought a new position in shares of Gorman-Rupp in the fourth quarter worth approximately $31,000. NewEdge Advisors LLC grew its holdings in shares of Gorman-Rupp by 130.7% during 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. USA Financial Formulas purchased a new stake in shares of Gorman-Rupp during the first quarter valued at approximately $53,000. Osaic Holdings Inc. increased its position in shares of 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 acquiring an additional 939 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of 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 acquiring an additional 1,180 shares in the last quarter. 59.26% of the stock is currently owned by institutional investors.

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.