Gorman-Rupp (NYSE:GRC) Stock Rating Raised to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Gorman-Rupp to “strong-buy” from “buy,” though analyst sentiment remains mixed overall, with a MarketBeat consensus rating of “Hold.”
• Gorman-Rupp shares were trading at $71.96, down 3.3%, while the company’s latest quarterly results exceeded expectations: EPS was $0.86 versus the $0.70 consensus, and revenue reached $193.25 million versus $181.55 million expected.
• An executive sold 5,153 shares worth approximately $400,000, while institutional investors and hedge funds collectively own 59.26% of the company.

Gorman-Rupp (NYSE:GRC - Get Free Report) was upgraded by Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the company. Zacks Research downgraded Gorman-Rupp from a "strong-buy" rating to a "hold" rating in a report on Monday, August 24th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Gorman-Rupp in a research note on Wednesday, September 9th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold".

Gorman-Rupp Trading Down 3.3%

Shares of GRC opened at $71.96 on Friday. Gorman-Rupp has a twelve month low of $42.31 and a twelve month high of $92.78. The firm has a market capitalization of $1.90 billion, a P/E ratio of 25.70, a price-to-earnings-growth ratio of 1.99 and a beta of 1.32. The company has a current ratio of 2.70, a quick ratio of 1.82 and a debt-to-equity ratio of 0.54. The stock's fifty day simple moving average is $74.42 and its 200 day simple moving average is $72.32.

Gorman-Rupp (NYSE:GRC - Get Free Report) last posted its quarterly earnings results on Friday, October 23rd. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.16. Gorman-Rupp had a return on equity of 17.13% and a net margin of 10.20%. The firm had revenue of $193.25 million during the quarter, compared to the consensus estimate of $181.55 million. On average, equities research analysts forecast that Gorman-Rupp will post 2.88 earnings per share for the current year.

Insider Buying and Selling at Gorman-Rupp

In related news, VP D. Patrick Wischmeier sold 5,153 shares of Gorman-Rupp stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $77.62, for a total transaction of $399,975.86. Following the transaction, the vice president owned 1,409 shares in the company, valued at approximately $109,366.58. The trade was a 78.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 11.60% of the company's stock.

Institutional Trading of Gorman-Rupp

Large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Gorman-Rupp during the second quarter valued at approximately $28,000. Integrated Wealth Concepts LLC purchased a new position in shares of Gorman-Rupp in the second quarter valued at $36,000. TD Waterhouse Canada Inc. boosted its stake in shares of Gorman-Rupp by 374.0% in the second quarter. TD Waterhouse Canada Inc. now owns 493 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 389 shares during the period. GAMMA Investing LLC boosted its stake in shares of Gorman-Rupp by 34.3% in the third quarter. GAMMA Investing LLC now owns 599 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 153 shares during the period. Finally, USA Financial Formulas acquired a new stake in Gorman-Rupp during the 1st quarter valued at $53,000. 59.26% of the stock is currently owned by institutional investors and hedge funds.

About Gorman-Rupp

Gorman-Rupp Co designs, manufactures and sells pumps and pumping systems for moving water and other liquids. Its product portfolio includes self-priming centrifugal pumps, standard centrifugal pumps, submersible pumps, rotary gear pumps, diaphragm pumps and related pumping equipment.

The company serves a range of markets, including municipal water and wastewater treatment, construction, agriculture, industrial operations, petroleum, fire protection and emergency services. Its products are used in applications such as sewage handling, flood control, dewatering, irrigation and general fluid transfer.

Founded in 1933 by J.C.

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