Gorman-Rupp (NYSE:GRC) Rating Lowered to Buy at StockNews.com

Gorman-Rupp (NYSE:GRC – Get Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Separately, Sidoti raised Gorman-Rupp from a “neutral” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Monday, February 7th.

Shares of Gorman-Rupp stock opened at $30.09 on Thursday. The stock has a 50 day moving average of $32.74 and a 200 day moving average of $38.20. Gorman-Rupp has a 12 month low of $28.15 and a 12 month high of $47.12. The firm has a market cap of $784.72 million, a PE ratio of 26.17 and a beta of 0.62.

Gorman-Rupp (NYSE:GRC – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The industrial products company reported $0.34 EPS for the quarter. Gorman-Rupp had a return on equity of 9.97% and a net margin of 7.65%. The company had revenue of $102.17 million during the quarter.

Several large investors have recently made changes to their positions in the company. Bell Investment Advisors Inc acquired a new stake in shares of Gorman-Rupp in the 4th quarter worth $29,000. Kepos Capital LP acquired a new stake in shares of Gorman-Rupp in the 4th quarter worth $71,000. Acadian Asset Management LLC acquired a new stake in shares of Gorman-Rupp in the 1st quarter worth $77,000. Citigroup Inc. boosted its position in shares of Gorman-Rupp by 43.9% in the 3rd quarter. Citigroup Inc. now owns 2,936 shares of the industrial products company’s stock worth $105,000 after purchasing an additional 895 shares in the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of Gorman-Rupp in the 4th quarter worth $110,000. Institutional investors and hedge funds own 55.88% of the company’s stock.

About Gorman-Rupp (Get Rating)

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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