Gorman-Rupp Co. (GRC) Coverage Initiated at Sidoti
Sidoti began coverage on shares of Gorman-Rupp Co. (NYSEMKT:GRC) in a research report issued on Tuesday. The firm set a “neutral” rating and a $30.00 price target on the stock. Sidoti’s target price would indicate a potential upside of 16.14% from the company’s current price.
Several other equities analysts also recently weighed in on the company. TheStreet downgraded Gorman-Rupp from a “buy” rating to a “hold” rating in a research report on Friday, July 29th. Zacks Investment Research upgraded Gorman-Rupp from a “hold” rating to a “strong-buy” rating and set a $31.00 price objective on the stock in a research report on Monday, August 1st. Seven research analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $17.90.
Gorman-Rupp (NYSEMKT:GRC) opened at 25.83 on Tuesday. The company has a market cap of $673.93 million, a P/E ratio of 27.95 and a beta of 1.13. The stock’s 50 day moving average price is $26.79 and its 200-day moving average price is $27.34. Gorman-Rupp has a 52-week low of $21.09 and a 52-week high of $32.60.
Gorman-Rupp (NYSEMKT:GRC) last released its earnings results on Friday, July 29th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.03. The firm earned $96.30 million during the quarter, compared to analysts’ expectations of $97.70 million. The business’s revenue was down 7.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 EPS. On average, equities analysts predict that Gorman-Rupp will post $0.96 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 15th were given a $0.105 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.42 dividend on an annualized basis and a yield of 1.63%. Gorman-Rupp’s dividend payout ratio is currently 45.65%.
In other news, Director W Wayne Walston sold 2,000 shares of Gorman-Rupp stock in a transaction on Friday, August 26th. The stock was sold at an average price of $27.31, for a total value of $54,620.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth R. Reynolds acquired 2,500 shares of the company’s stock in a transaction dated Thursday, August 11th. The stock was purchased at an average cost of $27.00 per share, with a total value of $67,500.00. The disclosure for this purchase can be found here.
Several large investors have recently modified their holdings of GRC. State Street Corp boosted its stake in shares of Gorman-Rupp by 2.9% in the first quarter. State Street Corp now owns 331,457 shares of the company’s stock worth $8,594,000 after buying an additional 9,258 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Gorman-Rupp by 1.4% in the first quarter. Geode Capital Management LLC now owns 123,088 shares of the company’s stock worth $3,191,000 after buying an additional 1,644 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Gorman-Rupp by 5.6% in the second quarter. Bank of New York Mellon Corp now owns 119,886 shares of the company’s stock worth $3,286,000 after buying an additional 6,384 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Gorman-Rupp by 0.7% in the first quarter. M&T Bank Corp now owns 107,000 shares of the company’s stock worth $2,775,000 after buying an additional 750 shares during the last quarter. Finally, Mondrian Investment Partners LTD boosted its stake in shares of Gorman-Rupp by 7,787.1% in the first quarter. Mondrian Investment Partners LTD now owns 84,234 shares of the company’s stock worth $2,184,000 after buying an additional 83,166 shares during the last quarter.
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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