Gorman-Rupp (NYSE:GRC) Rating Increased to Hold at Freedom Capital

Gorman-Rupp (NYSE:GRC) was upgraded by stock analysts at Freedom Capital to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also weighed in on GRC. Wall Street Zen upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Weiss Ratings lowered shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, May 13th. Finally, Zacks Research upgraded shares of Gorman-Rupp from a “hold” rating to a “strong-buy” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Gorman-Rupp Stock Down 1.9%

Shares of GRC opened at $71.89 on Monday. The firm has a market cap of $1.90 billion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 2.17 and a beta of 1.34. The company’s fifty day moving average is $67.57 and its two-hundred day moving average is $57.76. Gorman-Rupp has a fifty-two week low of $34.96 and a fifty-two week high of $79.54. The company has a quick ratio of 1.76, a current ratio of 2.93 and a debt-to-equity ratio of 0.69.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.19. The company had revenue of $176.59 million for the quarter, compared to analyst estimates of $170.61 million. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. Analysts forecast that Gorman-Rupp will post 2.6 earnings per share for the current year.

Hedge Funds Weigh In On Gorman-Rupp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cerity Partners LLC lifted its holdings in shares of Gorman-Rupp by 3.2% during the 4th quarter. Cerity Partners LLC now owns 4,776 shares of the industrial products company’s stock valued at $228,000 after acquiring 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 valued at $233,000 after acquiring an additional 163 shares in the last quarter. 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 valued at $615,000 after acquiring an additional 176 shares in the last quarter. Fifth Third Bancorp lifted its holdings 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 lifted its holdings 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. Institutional investors and hedge funds own 59.26% of the company’s stock.

Gorman-Rupp Company Profile

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.