Gorman-Rupp Co (GRC) Receives $10.50 Consensus Target Price from Analysts
Shares of Gorman-Rupp Co (NYSEMKT:GRC) have been assigned an average rating of “Hold” from the eight brokerages that are covering the stock. Eight equities research analysts have rated the stock with a hold rating. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $0.75.
GRC has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Sidoti initiated coverage on shares of Gorman-Rupp in a research report on Tuesday, September 20th. They set a “neutral” rating and a $30.00 price target on the stock. Finally, TheStreet cut shares of Gorman-Rupp from a “buy” rating to a “hold” rating in a research report on Friday, July 29th.
Shares of Gorman-Rupp (NYSEMKT:GRC) opened at 31.50 on Friday. The stock’s 50 day moving average price is $25.68 and its 200-day moving average price is $26.98. Gorman-Rupp has a 52-week low of $21.09 and a 52-week high of $32.60. The firm has a market cap of $821.87 million, a PE ratio of 32.68 and a beta of 1.13.
Gorman-Rupp (NYSEMKT:GRC) last announced its quarterly earnings results on Friday, October 28th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.02. The company earned $91.30 million during the quarter, compared to analyst estimates of $102.10 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities research analysts anticipate that Gorman-Rupp will post $0.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Tuesday, November 15th will be paid a $0.115 dividend. The ex-dividend date is Thursday, November 10th. This represents a $0.46 annualized dividend and a dividend yield of 1.46%. This is a positive change from Gorman-Rupp’s previous quarterly dividend of $0.11. Gorman-Rupp’s dividend payout ratio (DPR) is presently 45.65%.
In related news, Director Christopher H. Lake sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $26.45, for a total transaction of $52,900.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Ronald D. Pittenger sold 3,104 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $29.96, for a total transaction of $92,995.84. Following the transaction, the insider now owns 3,696 shares in the company, valued at approximately $110,732.16. The disclosure for this sale can be found here.
Several hedge funds and other institutional investors have recently bought and sold shares of GRC. Acrospire Investment Management LLC boosted its stake in shares of Gorman-Rupp by 808.3% in the third quarter. Acrospire Investment Management LLC now owns 4,069 shares of the company’s stock worth $104,000 after buying an additional 3,621 shares during the last quarter. First Quadrant L P CA acquired a new stake in shares of Gorman-Rupp during the third quarter worth $205,000. BlackRock Inc. boosted its stake in shares of 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. Wells Fargo & Company MN boosted its stake in shares of Gorman-Rupp by 8.6% in the third quarter. Wells Fargo & Company MN now owns 8,547 shares of the company’s stock worth $219,000 after buying an additional 676 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Gorman-Rupp during the third quarter worth $219,000.
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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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