Gorman-Rupp (NYSE:GRC) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded Gorman‑Rupp from a Buy to a Strong‑Buy, and Weiss Ratings and Zacks also raised their views, leaving the stock with an average MarketBeat rating of Strong Buy.
• Gorman‑Rupp beat estimates in its latest quarter with EPS of $0.68 (vs. $0.49 expected) and revenue of $176.6M, and the stock trades around $76.21 with a market cap of $2.01B and a P/E of 34.17.
• Institutional investors own roughly 59% of the company, and several hedge funds and advisors modestly increased their holdings in recent quarters.

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

Several other analysts have also commented on GRC. Weiss Ratings upgraded shares of Gorman-Rupp from a "buy (b)" rating to a "buy (b+)" rating in a research report on Wednesday. Zacks Research upgraded shares of Gorman-Rupp from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Strong Buy".

Gorman-Rupp Stock Up 0.6%

GRC stock opened at $76.21 on Friday. The company's 50 day simple moving average is $65.27 and its 200-day simple moving average is $55.57. The firm has a market capitalization of $2.01 billion, a PE ratio of 34.17, a P/E/G ratio of 2.24 and a beta of 1.34. Gorman-Rupp has a 12 month low of $34.96 and a 12 month high of $78.50. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.93 and a quick ratio of 1.39.

Gorman-Rupp (NYSE:GRC - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The industrial products company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.49 by $0.19. The business had revenue of $176.59 million for the quarter, compared to analyst estimates of $170.61 million. Gorman-Rupp had a net margin of 8.45% and a return on equity of 15.08%. Equities analysts expect that Gorman-Rupp will post 2.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gorman-Rupp

A number of hedge funds have recently made changes to their positions in the stock. Cerity Partners LLC boosted its holdings in shares of Gorman-Rupp by 3.2% in the 4th quarter. Cerity Partners LLC now owns 4,776 shares of the industrial products company's stock valued at $228,000 after purchasing an additional 150 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of Gorman-Rupp by 3.5% in the 4th quarter. Captrust Financial Advisors now owns 4,872 shares of the industrial products company's stock valued at $233,000 after purchasing an additional 163 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Gorman-Rupp by 14.1% in the 1st quarter. Fifth Third Bancorp now owns 1,461 shares of the industrial products company's stock valued at $91,000 after purchasing an additional 180 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Gorman-Rupp by 0.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 45,370 shares of the industrial products company's stock valued at $2,166,000 after purchasing an additional 203 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in shares of Gorman-Rupp by 3.5% in the 4th quarter. D.A. Davidson & CO. now owns 6,706 shares of the industrial products company's stock valued at $320,000 after purchasing an additional 229 shares during the last quarter. Institutional investors and hedge funds own 59.26% of the company's stock.

Gorman-Rupp Company Profile

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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