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

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

Other analysts have also recently issued reports about the company. Freedom Capital upgraded Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. Weiss Ratings downgraded shares of Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, June 12th. Finally, Wall Street Zen raised 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 assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy”.

Gorman-Rupp Trading Down 0.4%

Shares of GRC stock opened at $79.76 on Wednesday. The firm has a market capitalization of $2.11 billion, a P/E ratio of 35.77, a P/E/G ratio of 2.37 and a beta of 1.28. Gorman-Rupp has a twelve month low of $37.50 and a twelve month high of $92.78. The company has a quick ratio of 1.76, a current ratio of 2.93 and a debt-to-equity ratio of 0.69. The stock’s fifty day simple moving average is $80.58 and its 200 day simple moving average is $69.31.

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 business had revenue of $176.59 million during the quarter, compared to analysts’ expectations of $170.61 million. As a group, sell-side analysts predict that Gorman-Rupp will post 2.6 EPS for the current fiscal year.

Institutional Trading of Gorman-Rupp

A number of institutional investors have recently bought and sold shares of GRC. JPMorgan Chase & Co. lifted its position in shares of Gorman-Rupp by 43.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 67,990 shares of the industrial products company’s stock valued at $3,155,000 after acquiring an additional 20,522 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Gorman-Rupp by 42.9% in the fourth 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. Total Clarity Wealth Management Inc. bought a new stake in Gorman-Rupp in the first quarter valued at $472,000. SG Americas Securities LLC raised its holdings in shares of Gorman-Rupp by 222.3% during the fourth 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 during the period. Finally, Needham Investment Management LLC raised its holdings in shares of Gorman-Rupp by 30.0% during the fourth 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.

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.