Gorman-Rupp (NYSE:GRC) Rating Lowered to Hold at Zacks Research

Key Points

• Zacks Research downgraded Gorman-Rupp from “strong buy” to “hold,” bringing the analyst consensus to “hold” with one buy and two hold ratings.
• Gorman-Rupp reported quarterly EPS of $0.74, beating estimates of $0.70, while revenue of $186.07 million fell short of the $188.89 million consensus forecast.
• Shares opened at $76.93, giving the company a $2.03 billion market capitalization; institutional investors and hedge funds own 59.26% of the stock.

Gorman-Rupp (NYSE:GRC - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Monday,Zacks.com reports.

GRC has been the topic of a number of other reports. Wall Street Zen cut shares of Gorman-Rupp from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 8th. Weiss Ratings lowered shares of Gorman-Rupp from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, June 12th. Finally, Freedom Capital raised shares of Gorman-Rupp to a "hold" rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold".

Gorman-Rupp Stock Performance

Shares of NYSE:GRC opened at $76.93 on Monday. The company has a market cap of $2.03 billion, a P/E ratio of 32.46, a PEG ratio of 2.24 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.81. Gorman-Rupp has a one year low of $41.85 and a one year high of $92.78. The business's 50-day simple moving average is $82.50 and its 200 day simple moving average is $73.89.

Gorman-Rupp (NYSE:GRC - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The industrial products company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.70 by $0.04. Gorman-Rupp had a return on equity of 15.55% and a net margin of 8.88%.The firm had revenue of $186.07 million for the quarter, compared to analyst estimates of $188.89 million. On average, sell-side analysts forecast that Gorman-Rupp will post 2.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gorman-Rupp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Gorman-Rupp in the second quarter worth $28,000. Huntington National Bank bought a new position in Gorman-Rupp during the 4th quarter valued at $31,000. NewEdge Advisors LLC boosted its stake in Gorman-Rupp by 130.7% during the 4th quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company's stock valued at $32,000 after acquiring an additional 379 shares during the last quarter. TD Waterhouse Canada Inc. grew its holdings in Gorman-Rupp by 374.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 493 shares of the industrial products company's stock worth $44,000 after acquiring an additional 389 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in Gorman-Rupp during the 1st quarter worth $53,000. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

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.

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