Gorman-Rupp (NYSE:GRC) Lowered to “Hold” Rating by Zacks Research

Gorman-Rupp (NYSE:GRC) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts have also weighed in on GRC. Wall Street Zen lowered shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings lowered shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Finally, Freedom Capital upgraded shares of Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Gorman-Rupp Price Performance

Shares of GRC opened at $76.93 on Monday. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.24 and a beta of 1.29. The stock has a 50 day moving average of $82.50 and a 200-day moving average of $73.89. The company has a current ratio of 2.81, a quick ratio of 1.82 and a debt-to-equity ratio of 0.62. Gorman-Rupp has a 52 week low of $41.85 and a 52 week high of $92.78.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Friday, July 24th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.04. Gorman-Rupp had a return on equity of 15.55% and a net margin of 8.88%.The business had revenue of $186.07 million for the quarter, compared to analyst estimates of $188.89 million. As a group, analysts forecast that Gorman-Rupp will post 2.67 EPS for the current year.

Institutional Investors Weigh In On Gorman-Rupp

A number of hedge funds have recently added to or reduced their stakes in the stock. Cerity Partners LLC boosted its stake in Gorman-Rupp by 3.2% during the fourth quarter. Cerity Partners LLC now owns 4,776 shares of the industrial products company’s stock worth $228,000 after buying an additional 150 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of Gorman-Rupp by 3.5% during the 4th quarter. Captrust Financial Advisors now owns 4,872 shares of the industrial products company’s stock worth $233,000 after acquiring an additional 163 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Gorman-Rupp by 1.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,892 shares of the industrial products company’s stock worth $615,000 after acquiring an additional 176 shares during the period. Fifth Third Bancorp boosted its position in shares of Gorman-Rupp by 14.1% during the 1st quarter. Fifth Third Bancorp now owns 1,461 shares of the industrial products company’s stock valued at $91,000 after acquiring an additional 180 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Gorman-Rupp by 0.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,370 shares of the industrial products company’s stock valued at $2,166,000 after acquiring an additional 203 shares in the last quarter. 59.26% of the stock is currently owned by 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.