Wall Street Zen Upgrades Gorman-Rupp (NYSE:GRC) to Strong-Buy

Gorman-Rupp (NYSE:GRC) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Saturday.

GRC has been the subject of several other reports. Weiss Ratings raised Gorman-Rupp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday. Zacks Research raised 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 given a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy”.

Gorman-Rupp Stock Up 0.1%

Shares of GRC opened at $76.21 on Friday. The firm has a market cap of $2.01 billion, a P/E ratio of 34.17, a price-to-earnings-growth ratio of 2.25 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’s 50-day moving average price is $65.27 and its 200 day moving average price is $55.72. The company has a current ratio of 2.93, a quick ratio of 1.76 and a debt-to-equity ratio of 0.69.

Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Thursday, April 23rd. The industrial products company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.19. The firm 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%. On average, sell-side analysts forecast that Gorman-Rupp will post 2.6 earnings per share for the current year.

Hedge Funds Weigh In On Gorman-Rupp

A number of institutional investors and hedge funds have recently made changes to their positions in GRC. Huntington National Bank acquired a new position in shares of Gorman-Rupp during the fourth quarter worth about $31,000. NewEdge Advisors LLC grew its position in shares of Gorman-Rupp by 130.7% during the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock worth $32,000 after buying an additional 379 shares in the last quarter. Osaic Holdings Inc. grew its position in shares of Gorman-Rupp by 125.0% during the second quarter. Osaic Holdings Inc. now owns 1,690 shares of the industrial products company’s stock worth $62,000 after buying an additional 939 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Gorman-Rupp during the third quarter worth about $65,000. Finally, CWM LLC grew its position in shares of Gorman-Rupp by 47.0% during the third quarter. CWM LLC now owns 1,452 shares of the industrial products company’s stock worth $67,000 after buying an additional 464 shares in the last quarter. 59.26% of the stock is owned by institutional investors and hedge funds.

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.