Gorman-Rupp (NYSE:GRC) Rating Lowered to Hold at Zacks Research

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

GRC has been the subject of a number of other research reports. Weiss Ratings cut Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, June 12th. Freedom Capital upgraded Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. Finally, Wall Street Zen upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Gorman-Rupp Price Performance

Gorman-Rupp stock opened at $86.13 on Tuesday. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 38.62, a PEG ratio of 2.56 and a beta of 1.31. The firm’s fifty day moving average is $76.62 and its 200 day moving average is $64.28. 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 has a 52-week low of $36.16 and a 52-week high of $89.62.

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

Hedge Funds Weigh In On Gorman-Rupp

A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in shares of Gorman-Rupp by 43.2% in the third quarter. JPMorgan Chase & Co. now owns 67,990 shares of the industrial products company’s stock valued at $3,155,000 after purchasing an additional 20,522 shares during the period. Victory Capital Management Inc. increased its holdings in Gorman-Rupp by 2,664,700.0% during the 3rd quarter. Victory Capital Management Inc. now owns 266,480 shares of the industrial products company’s stock worth $12,367,000 after purchasing an additional 266,470 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Gorman-Rupp by 42.9% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 123,382 shares of the industrial products company’s stock worth $5,891,000 after purchasing an additional 37,037 shares during the period. Teton Advisors LLC bought a new stake in Gorman-Rupp during the 3rd quarter valued at $2,191,000. Finally, SG Americas Securities LLC raised its position in Gorman-Rupp by 222.3% during the 4th quarter. SG Americas Securities LLC now owns 11,096 shares of the industrial products company’s stock valued at $530,000 after purchasing an additional 7,653 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.