Gorman-Rupp (NYSE:GRC) Trading Down 4.3% After Earnings Miss

Key Points

• Gorman-Rupp's stock price dropped 4.3% following an earnings announcement that missed analysts' expectations, with reported EPS of $0.52 compared to the consensus estimate of $0.55.
• The company had revenue of $172.83 million for the quarter, falling short of analyst expectations of $174.61 million.
• Despite the earnings miss, Weiss Ratings reaffirmed a "buy" rating on Gorman-Rupp, which currently holds a consensus rating of "Buy" from analysts.

Gorman-Rupp Company (The) (NYSE:GRC - Get Free Report)'s share price dropped 4.3% during mid-day trading on Friday following a dissappointing earnings announcement. The company traded as low as $45.00 and last traded at $46.99. Approximately 22,348 shares were traded during trading, a decline of 68% from the average daily volume of 69,435 shares. The stock had previously closed at $49.12.

The industrial products company reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $0.55 by ($0.03). Gorman-Rupp had a return on equity of 13.63% and a net margin of 7.69%.The company had revenue of $172.83 million during the quarter, compared to analysts' expectations of $174.61 million.

Analysts Set New Price Targets

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, According to data from MarketBeat, Gorman-Rupp has a consensus rating of "Buy".

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GRC. Nuveen LLC purchased a new position in Gorman-Rupp during the 1st quarter worth $3,449,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Gorman-Rupp in the 3rd quarter valued at about $4,007,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Gorman-Rupp by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 756,083 shares of the industrial products company's stock valued at $26,540,000 after buying an additional 53,006 shares during the period. Gamco Investors INC. ET AL lifted its holdings in shares of Gorman-Rupp by 6.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 592,988 shares of the industrial products company's stock valued at $21,775,000 after buying an additional 38,260 shares during the period. Finally, Cooke & Bieler LP lifted its holdings in shares of Gorman-Rupp by 8.5% in the 1st quarter. Cooke & Bieler LP now owns 481,965 shares of the industrial products company's stock valued at $16,917,000 after buying an additional 37,738 shares during the period. 59.26% of the stock is currently owned by hedge funds and other institutional investors.

Gorman-Rupp Stock Down 4.6%

The company has a market cap of $1.23 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 1.82 and a beta of 1.22. The company has a current ratio of 2.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.80. The business has a fifty day moving average of $44.46 and a two-hundred day moving average of $39.70.

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.

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