Gorman-Rupp (NYSE:GRC) Stock Rating Lowered by Wall Street Zen

Key Points

• Gorman-Rupp has been downgraded from a "strong-buy" to a "buy" rating by analysts at Wall Street Zen, while Weiss Ratings has reaffirmed a "buy" rating for the stock.
• Shares of Gorman-Rupp traded down 5.6% and currently have a market capitalization of $1.22 billion.
• Institutional investors own approximately 59.26% of Gorman-Rupp's stock, with significant recent activity in their positions during the first quarter.

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

Separately, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Gorman-Rupp in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Gorman-Rupp has an average rating of "Buy".

Gorman-Rupp Trading Down 5.6%

Shares of NYSE:GRC opened at $46.39 on Friday. The business's 50 day moving average price is $44.56 and its 200-day moving average price is $39.81. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.39 and a quick ratio of 1.39. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 23.55, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22. Gorman-Rupp has a 1 year low of $30.87 and a 1 year high of $49.24.

Gorman-Rupp (NYSE:GRC - Get Free Report) last issued its earnings results on Friday, July 25th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.55 by $0.05. Gorman-Rupp had a return on equity of 13.63% and a net margin of 7.69%.The business had revenue of $179.05 million during the quarter, compared to the consensus estimate of $174.60 million. On average, equities research analysts forecast that Gorman-Rupp will post 1.98 earnings per share for the current fiscal year.

Institutional Trading of Gorman-Rupp

Large investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. lifted its position in Gorman-Rupp by 8.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,329 shares of the industrial products company's stock worth $468,000 after buying an additional 1,093 shares during the period. Creative Financial Designs Inc. ADV lifted its position in Gorman-Rupp by 6.3% during the first quarter. Creative Financial Designs Inc. ADV now owns 21,035 shares of the industrial products company's stock worth $738,000 after buying an additional 1,240 shares during the period. Aurora Private Wealth Inc. purchased a new position in Gorman-Rupp during the first quarter worth about $1,262,000. Cooke & Bieler LP lifted its position in Gorman-Rupp by 8.5% during the first quarter. Cooke & Bieler LP now owns 481,965 shares of the industrial products company's stock worth $16,917,000 after buying an additional 37,738 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Gorman-Rupp during the first quarter worth about $221,000. Institutional investors and hedge funds own 59.26% of the company's stock.

About Gorman-Rupp

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.