Gorman-Rupp (NYSE:GRC) Upgraded by Zacks Research to Strong-Buy Rating

Gorman-Rupp (NYSE:GRC) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Weiss Ratings lowered shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, June 12th. Freedom Capital raised shares of Gorman-Rupp to a “hold” rating in a research note on Monday, May 18th. Finally, Wall Street Zen upgraded shares of Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy”.

Gorman-Rupp Trading Down 0.4%

NYSE GRC opened at $79.76 on Wednesday. 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 $37.50 and a 52 week high of $92.78. The business has a 50 day moving average price of $80.58 and a 200-day moving average price of $69.31. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 35.77, a P/E/G ratio of 2.37 and a beta of 1.28.

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

Hedge Funds Weigh In On Gorman-Rupp

Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. increased its position in shares of Gorman-Rupp by 211.6% during the fourth quarter. Victory Capital Management Inc. now owns 830,480 shares of the industrial products company’s stock valued at $39,655,000 after acquiring an additional 564,000 shares during the last quarter. First Trust Advisors LP boosted its position in Gorman-Rupp by 326.1% in the first quarter. First Trust Advisors LP now owns 524,400 shares of the industrial products company’s stock worth $32,581,000 after purchasing an additional 401,340 shares during the last quarter. Bank of America Corp DE grew its stake in Gorman-Rupp by 1,056.7% in the 1st quarter. Bank of America Corp DE now owns 302,230 shares of the industrial products company’s stock valued at $18,778,000 after purchasing an additional 276,101 shares during the period. Amundi bought a new position in Gorman-Rupp in the 4th quarter valued at $5,942,000. Finally, Needham Investment Management LLC grew its stake in Gorman-Rupp by 30.0% in the 4th quarter. Needham Investment Management LLC now owns 260,000 shares of the industrial products company’s stock valued at $12,415,000 after purchasing an additional 60,000 shares during the period. Institutional investors 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.