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

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

Gorman-Rupp Stock Up 2.6 %

NYSE GRC opened at $39.09 on Monday. The firm has a market cap of $1.03 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 1.47 and a beta of 0.97. Gorman-Rupp has a one year low of $30.47 and a one year high of $43.79. The stock’s 50 day simple moving average is $38.29 and its 200 day simple moving average is $38.81. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38.

Gorman-Rupp (NYSE:GRC) last released its quarterly earnings results on Friday, February 7th. The industrial products company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Gorman-Rupp had a return on equity of 12.32% and a net margin of 5.80%. During the same period in the prior year, the business earned $0.34 EPS. As a group, sell-side analysts forecast that Gorman-Rupp will post 1.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gorman-Rupp

Large investors have recently bought and sold shares of the business. Farther Finance Advisors LLC boosted its position in Gorman-Rupp by 5,461.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock valued at $28,000 after buying an additional 710 shares during the last quarter. Financial Management Professionals Inc. bought a new position in Gorman-Rupp in the 3rd quarter valued at $29,000. nVerses Capital LLC bought a new position in Gorman-Rupp in the 3rd quarter valued at $31,000. Centricity Wealth Management LLC bought a new position in Gorman-Rupp in the 4th quarter valued at $38,000. Finally, Copeland Capital Management LLC bought a new position in Gorman-Rupp in the 3rd quarter valued at $58,000. 59.26% of the stock is currently owned by institutional investors.

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.