Wall Street Zen Downgrades Gorman-Rupp (NYSE:GRC) to Hold

Gorman-Rupp (NYSE:GRC) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Gorman-Rupp in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Gorman-Rupp presently has a consensus rating of “Buy”.

Gorman-Rupp Trading Up 1.4%

NYSE:GRC opened at $45.58 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.08 and a quick ratio of 1.39. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 1.71 and a beta of 1.22. Gorman-Rupp has a one year low of $30.87 and a one year high of $49.24. The business has a fifty day moving average price of $44.97 and a 200-day moving average price of $40.44.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, October 24th. The industrial products company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $172.83 million during the quarter, compared to analysts’ expectations of $174.61 million. Gorman-Rupp had a return on equity of 13.49% and a net margin of 7.41%. Sell-side analysts forecast that Gorman-Rupp will post 1.98 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Arizona State Retirement System boosted its holdings in Gorman-Rupp by 8.4% in the 3rd quarter. Arizona State Retirement System now owns 6,224 shares of the industrial products company’s stock worth $289,000 after buying an additional 484 shares during the period. State of Alaska Department of Revenue bought a new position in Gorman-Rupp in the 3rd quarter worth $65,000. SG Americas Securities LLC boosted its holdings in shares of Gorman-Rupp by 8.5% during the 3rd quarter. SG Americas Securities LLC now owns 3,443 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 269 shares during the last quarter. Longboard Asset Management LP bought a new position in shares of Gorman-Rupp during the 3rd quarter valued at about $214,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Gorman-Rupp during the 3rd quarter valued at about $4,007,000. Institutional investors own 59.26% of the company’s stock.

About Gorman-Rupp

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company’s products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.