Gorman-Rupp (NYSE:GRC) Rating Increased to Hold at Freedom Capital

Gorman-Rupp (NYSE:GRC) was upgraded by equities researchers at Freedom Capital to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Weiss Ratings cut shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. Wall Street Zen raised shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Finally, Zacks Research raised shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. One equities 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. According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Gorman-Rupp Trading Down 1.9%

Shares of Gorman-Rupp stock opened at $71.89 on Monday. Gorman-Rupp has a 12-month low of $34.96 and a 12-month high of $79.54. The company has a current ratio of 2.93, a quick ratio of 1.76 and a debt-to-equity ratio of 0.69. The stock has a market cap of $1.90 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 2.17 and a beta of 1.34. The company has a 50-day moving average of $67.57 and a two-hundred day moving average of $57.76.

Gorman-Rupp (NYSE:GRC) last issued its earnings results on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating 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 company had revenue of $176.59 million during the quarter, compared to analysts’ expectations of $170.61 million. On average, research analysts anticipate that Gorman-Rupp will post 2.6 EPS for the current fiscal year.

Institutional Trading of Gorman-Rupp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank purchased a new stake in Gorman-Rupp in the 4th quarter worth approximately $31,000. NewEdge Advisors LLC grew its stake in Gorman-Rupp by 130.7% in the 4th quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 379 shares during the period. Osaic Holdings Inc. grew its stake in Gorman-Rupp by 125.0% in the 2nd 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 period. State of Alaska Department of Revenue purchased a new stake in Gorman-Rupp in the 3rd quarter worth approximately $65,000. Finally, CWM LLC grew its stake in Gorman-Rupp by 47.0% in the 3rd quarter. CWM LLC now owns 1,452 shares of the industrial products company’s stock worth $67,000 after acquiring an additional 464 shares during the period. 59.26% of the stock is owned by hedge funds and other institutional investors.

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.