Gorman-Rupp (NYSE:GRC) Announces Earnings Results, Beats Estimates By $0.16 EPS

Gorman-Rupp (NYSE:GRC) announced its quarterly earnings results on Friday. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.16, Zacks reports. Gorman-Rupp had a return on equity of 15.55% and a net margin of 8.88%. The company had revenue of $193.25 million during the quarter, compared to analyst estimates of $181.55 million.

Gorman-Rupp Price Performance

Shares of GRC stock traded up $2.98 during mid-day trading on Friday, hitting $73.11. 155,719 shares of the stock traded hands, compared to its average volume of 166,586. Gorman-Rupp has a twelve month low of $42.31 and a twelve month high of $92.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.81. The company’s 50-day simple moving average is $74.96 and its 200-day simple moving average is $77.15. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 2.13 and a beta of 1.32.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Zacks Research lowered Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a report on Monday, August 24th. Wall Street Zen lowered shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Gorman-Rupp in a research note on Wednesday, September 9th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Insider Buying and Selling at Gorman-Rupp

In related news, VP D. Patrick Wischmeier sold 5,153 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $77.62, for a total transaction of $399,975.86. Following the completion of the transaction, the vice president owned 1,409 shares of the company’s stock, valued at $109,366.58. This trade represents a 78.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.60% of the stock is currently owned by company insiders.

About Gorman-Rupp

Gorman-Rupp Co designs, manufactures and sells pumps and pumping systems for moving water and other liquids. Its product portfolio includes self-priming centrifugal pumps, standard centrifugal pumps, submersible pumps, rotary gear pumps, diaphragm pumps and related pumping equipment.

The company serves a range of markets, including municipal water and wastewater treatment, construction, agriculture, industrial operations, petroleum, fire protection and emergency services. Its products are used in applications such as sewage handling, flood control, dewatering, irrigation and general fluid transfer.

Founded in 1933 by J.C.