Gorman-Rupp Co. (NYSEMKT:GRC) has been given an average rating of “Hold” by the eight analysts that are currently covering the company. Eight investment analysts have rated the stock with a hold recommendation. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $10.50.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 28th. Sidoti assumed coverage on shares of Gorman-Rupp in a report on Tuesday, September 20th. They issued a “neutral” rating and a $30.00 price objective for the company. Finally, TheStreet lowered shares of Gorman-Rupp from a “buy” rating to a “hold” rating in a report on Friday, July 29th.
Gorman-Rupp (NYSEMKT:GRC) traded down 0.16% during midday trading on Friday, hitting $24.81. 6,640 shares of the stock traded hands. The stock’s 50-day moving average price is $26.02 and its 200 day moving average price is $27.22. The company has a market capitalization of $647.32 million, a price-to-earnings ratio of 26.85 and a beta of 1.13. Gorman-Rupp has a 52 week low of $21.09 and a 52 week high of $32.60.
Gorman-Rupp (NYSEMKT:GRC) last announced its earnings results on Friday, July 29th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.03. The company had revenue of $96.30 million for the quarter, compared to the consensus estimate of $97.70 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. The company’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, equities research analysts predict that Gorman-Rupp will post $0.96 EPS for the current year.
In related news, Director Kenneth R. Reynolds acquired 2,500 shares of Gorman-Rupp stock in a transaction on Thursday, August 11th. The shares were acquired at an average cost of $27.00 per share, with a total value of $67,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director W Wayne Walston sold 2,000 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $27.31, for a total transaction of $54,620.00. The disclosure for this sale can be found here.
A number of hedge funds and other institutional investors have recently modified their holdings of GRC. BlackRock Inc. increased its position in shares of Gorman-Rupp by 10.8% in the first quarter. BlackRock Inc. now owns 8,102 shares of the company’s stock worth $210,000 after buying an additional 790 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Gorman-Rupp during the first quarter worth about $252,000. Janney Montgomery Scott LLC increased its position in shares of Gorman-Rupp by 102.0% in the second quarter. Janney Montgomery Scott LLC now owns 23,598 shares of the company’s stock worth $639,000 after buying an additional 11,916 shares during the last quarter. BlackRock Group LTD increased its position in shares of Gorman-Rupp by 4.0% in the first quarter. BlackRock Group LTD now owns 50,408 shares of the company’s stock worth $1,307,000 after buying an additional 1,920 shares during the last quarter. Finally, Spark Investment Management LLC bought a new position in shares of Gorman-Rupp during the first quarter worth about $417,000.
Gorman-Rupp Company Profile
The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.
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