Gorman-Rupp Co. (GRC) Receives $10.50 Consensus Price Target from Analysts
Shares of Gorman-Rupp Co. (NYSEMKT:GRC) have received an average recommendation of “Hold” from the eight brokerages that are covering the company. Eight analysts have rated the stock with a hold rating. The average 12-month price target among brokers that have issued a report on the stock in the last year is $10.50.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $31.00 target price for the company in a research report on Monday, August 1st. TheStreet downgraded Gorman-Rupp from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Finally, Sidoti assumed coverage on Gorman-Rupp in a research report on Tuesday, September 20th. They issued a “neutral” rating and a $30.00 target price for the company.
Shares of Gorman-Rupp (NYSEMKT:GRC) traded down 0.16% during midday trading on Friday, hitting $24.81. The stock had a trading volume of 6,640 shares. Gorman-Rupp has a 12-month low of $21.09 and a 12-month high of $32.60. The company’s 50-day moving average price is $26.02 and its 200-day moving average price is $27.22. The firm has a market cap of $647.32 million, a price-to-earnings ratio of 26.85 and a beta of 1.13.
Gorman-Rupp (NYSEMKT:GRC) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.03. The business earned $96.30 million during the quarter, compared to the consensus estimate of $97.70 million. During the same period last year, the company earned $0.25 earnings per share. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. Equities research analysts forecast that Gorman-Rupp will post $0.96 EPS for the current year.
In other Gorman-Rupp news, Director Kenneth R. Reynolds bought 2,500 shares of Gorman-Rupp stock in a transaction dated Thursday, August 11th. The stock was bought at an average price of $27.00 per share, for a total transaction of $67,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director W Wayne Walston sold 2,000 shares of the stock in a transaction on Friday, August 26th. The shares were sold at an average price of $27.31, for a total value of $54,620.00. The disclosure for this sale can be found here.
Several hedge funds have recently added to or reduced their stakes in GRC. Alliancebernstein L.P. raised its stake in Gorman-Rupp by 0.3% in the second quarter. Alliancebernstein L.P. now owns 37,953 shares of the company’s stock worth $1,040,000 after buying an additional 101 shares during the last quarter. Park National Corp OH raised its stake in Gorman-Rupp by 0.6% in the third quarter. Park National Corp OH now owns 101,962 shares of the company’s stock worth $2,611,000 after buying an additional 598 shares during the last quarter. M&T Bank Corp raised its stake in Gorman-Rupp by 0.7% in the first quarter. M&T Bank Corp now owns 107,000 shares of the company’s stock worth $2,775,000 after buying an additional 750 shares during the last quarter. BlackRock Inc. raised its stake in Gorman-Rupp by 10.8% in the first quarter. BlackRock Inc. now owns 8,102 shares of the company’s stock worth $210,000 after buying an additional 790 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Gorman-Rupp by 1.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 61,371 shares of the company’s stock worth $1,683,000 after buying an additional 840 shares during the last quarter.
Gorman-Rupp Company Profile
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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