Gorman-Rupp (NYSE:GRC) Downgraded to "Buy" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Gorman-Rupp from “strong buy” to “buy,” though the stock retains an overall “Buy” consensus rating from analysts.
• Gorman-Rupp shares opened at $83.81, near their 52-week high of $92.78, with a market capitalization of approximately $2.21 billion and a P/E ratio of 35.36.
• The company reported quarterly earnings of $0.74 per share, beating estimates of $0.70, while revenue of $186.07 million fell short of the $188.89 million consensus estimate. Institutional investors own 59.26% of the stock.

Gorman-Rupp (NYSE:GRC - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday.

Several other research firms have also commented on GRC. Freedom Capital upgraded Gorman-Rupp to a "hold" rating in a report on Monday, May 18th. 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, Zacks Research upgraded shares of Gorman-Rupp from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy".

Gorman-Rupp Price Performance

NYSE:GRC opened at $83.81 on Friday. Gorman-Rupp has a one year low of $40.74 and a one year high of $92.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.82 and a current ratio of 2.81. The stock has a market cap of $2.21 billion, a PE ratio of 35.36, a P/E/G ratio of 2.44 and a beta of 1.29. The stock has a 50 day moving average price of $82.55 and a 200 day moving average price of $71.61.

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

Institutional Investors Weigh In On Gorman-Rupp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GRC. BlackRock Inc. acquired a new position in shares of Gorman-Rupp in the 2nd quarter valued at $165,116,000. Deutsche Bank AG acquired a new stake in shares of Gorman-Rupp during the 2nd quarter worth about $2,068,000. Global Retirement Partners LLC acquired a new stake in shares of Gorman-Rupp during the 2nd quarter worth about $220,000. Bank of New York Mellon Corp purchased a new stake in Gorman-Rupp in the 2nd quarter valued at about $16,235,000. Finally, State of Wyoming purchased a new stake in Gorman-Rupp in the 2nd quarter valued at about $130,000. Hedge funds and other 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.

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