Gorman-Rupp Co. (GRC) Given Consensus Rating of “Hold” by Analysts
Shares of Gorman-Rupp Co. (NYSEMKT:GRC) have been given a consensus rating of “Hold” by the eight brokerages that are covering the firm. Eight equities research analysts have rated the stock with a hold rating. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $10.50.
A number of analysts have recently weighed in on GRC shares. Zacks Investment Research downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 28th. Sidoti started coverage on shares of Gorman-Rupp in a report on Tuesday, September 20th. They set a “neutral” rating and a $30.00 price target for the company. Finally, TheStreet downgraded shares of Gorman-Rupp from a “buy” rating to a “hold” rating in a report on Friday, July 29th.
In other Gorman-Rupp news, Director W Wayne Walston sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $27.31, for a total value of $54,620.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth R. Reynolds purchased 2,500 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was acquired at an average price of $27.00 per share, with a total value of $67,500.00. The disclosure for this purchase can be found here.
A number of institutional investors have recently made changes to their positions in GRC. BlackRock Inc. boosted its position in shares of Gorman-Rupp by 10.8% in the first quarter. BlackRock Inc. now owns 8,102 shares of the company’s stock valued at $210,000 after buying an additional 790 shares during the period. BlackRock Group LTD boosted its position in shares of Gorman-Rupp by 4.0% in the first quarter. BlackRock Group LTD now owns 50,408 shares of the company’s stock valued at $1,307,000 after buying an additional 1,920 shares during the period. M&T Bank Corp boosted its position in shares of Gorman-Rupp by 0.7% in the first quarter. M&T Bank Corp now owns 107,000 shares of the company’s stock valued at $2,775,000 after buying an additional 750 shares during the period. Spark Investment Management LLC acquired a new position in shares of Gorman-Rupp during the first quarter valued at about $417,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Gorman-Rupp during the first quarter valued at about $252,000.
Shares of Gorman-Rupp (NYSEMKT:GRC) traded down 0.16% during mid-day trading on Friday, hitting $24.81. 6,640 shares of the company were exchanged. The company’s 50-day moving average price is $26.02 and its 200-day moving average price is $27.22. Gorman-Rupp has a 12-month low of $21.09 and a 12-month high of $32.60. The firm has a market capitalization of $647.32 million, a P/E ratio of 26.85 and a beta of 1.13.
Gorman-Rupp (NYSEMKT:GRC) last posted its quarterly earnings data on Friday, July 29th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.03. The business earned $96.30 million during the quarter, compared to the consensus estimate of $97.70 million. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. Equities research analysts predict that Gorman-Rupp will post $0.96 earnings per share for the current fiscal year.
The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.
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