Gorman-Rupp (NYSE:GRC) Downgraded by Zacks Research to Hold

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

Several other research firms have also commented on GRC. Freedom Capital raised Gorman-Rupp to a “hold” rating in a research report on Monday, May 18th. Wall Street Zen raised Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings lowered Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, June 12th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Gorman-Rupp Trading Down 0.4%

NYSE GRC opened at $86.13 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.76 and a current ratio of 2.93. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 38.62, a price-to-earnings-growth ratio of 2.56 and a beta of 1.31. The company’s 50-day simple moving average is $76.62 and its two-hundred day simple moving average is $64.28. Gorman-Rupp has a one year low of $36.16 and a one year high of $89.62.

Gorman-Rupp (NYSE:GRC) last announced its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $170.61 million. Equities 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 large investors have recently made changes to their positions in GRC. Victory Capital Management Inc. lifted its holdings in shares of Gorman-Rupp by 211.6% during the 4th quarter. Victory Capital Management Inc. now owns 830,480 shares of the industrial products company’s stock valued at $39,655,000 after purchasing an additional 564,000 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Gorman-Rupp by 326.1% in the 1st 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 in the last quarter. Bank of America Corp DE grew its stake in Gorman-Rupp by 1,056.7% during the 1st quarter. Bank of America Corp DE now owns 302,230 shares of the industrial products company’s stock worth $18,778,000 after buying an additional 276,101 shares during the last quarter. Amundi purchased a new position in Gorman-Rupp during the 4th quarter worth $5,942,000. Finally, Needham Investment Management LLC increased its position in Gorman-Rupp by 30.0% during 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 buying an additional 60,000 shares in the last quarter. 59.26% of the stock is owned by institutional investors and hedge funds.

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.