Gorman-Rupp (NYSE:GRC) Rating Lowered to “Buy” at StockNews.com

Gorman-Rupp (NYSE:GRC) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

Gorman-Rupp Stock Up 0.4 %

Shares of NYSE:GRC traded up $0.14 during midday trading on Monday, reaching $38.08. 74,481 shares of the company were exchanged, compared to its average volume of 57,659. The stock has a fifty day simple moving average of $38.29 and a two-hundred day simple moving average of $38.81. The firm has a market cap of $998.76 million, a PE ratio of 26.26, a P/E/G ratio of 1.47 and a beta of 0.97. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99. Gorman-Rupp has a fifty-two week low of $30.47 and a fifty-two week high of $43.79.

Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings data on Friday, February 7th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Gorman-Rupp had a return on equity of 12.32% and a net margin of 5.80%. During the same period in the prior year, the company earned $0.34 EPS. As a group, sell-side analysts forecast that Gorman-Rupp will post 1.78 earnings per share for the current year.

Institutional Trading of Gorman-Rupp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its stake in shares of Gorman-Rupp by 5,461.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 710 shares during the last quarter. Financial Management Professionals Inc. bought a new position in Gorman-Rupp during the third quarter worth about $29,000. nVerses Capital LLC acquired a new position in Gorman-Rupp during the third quarter worth approximately $31,000. Centricity Wealth Management LLC acquired a new stake in shares of Gorman-Rupp in the fourth quarter valued at approximately $38,000. Finally, Copeland Capital Management LLC bought a new position in shares of Gorman-Rupp during the 3rd quarter worth approximately $58,000. 59.26% of the stock is owned by institutional investors.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company’s products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.