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

Gorman-Rupp (NYSE:GRCGet Rating) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Separately, TheStreet cut Gorman-Rupp from a “b-” rating to a “c+” rating in a report on Wednesday, June 8th.

Shares of GRC stock opened at $27.69 on Friday. The business’s 50 day moving average is $31.05 and its two-hundred day moving average is $36.88. The company has a market capitalization of $722.13 million, a P/E ratio of 24.08 and a beta of 0.63. Gorman-Rupp has a twelve month low of $27.45 and a twelve month high of $47.12.

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

Hedge funds have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D acquired a new position in shares of Gorman-Rupp during the fourth quarter worth about $770,000. Lbmc Investment Advisors LLC lifted its stake in shares of Gorman-Rupp by 8,757.4% during the fourth quarter. Lbmc Investment Advisors LLC now owns 61,116 shares of the industrial products company’s stock worth $2,723,000 after purchasing an additional 60,426 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Gorman-Rupp by 22.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 418,149 shares of the industrial products company’s stock worth $18,629,000 after purchasing an additional 76,787 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of Gorman-Rupp during the fourth quarter worth about $110,000. Finally, UBS Asset Management Americas Inc. lifted its stake in shares of Gorman-Rupp by 55.4% during the third quarter. UBS Asset Management Americas Inc. now owns 15,862 shares of the industrial products company’s stock worth $568,000 after purchasing an additional 5,658 shares in the last quarter. 55.88% of the stock is owned by hedge funds and other institutional investors.

Gorman-Rupp Company Profile (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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