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

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

Gorman-Rupp Stock Down 2.4 %

GRC stock opened at $38.22 on Tuesday. The firm has a market cap of $1.00 billion, a PE ratio of 24.98, a PEG ratio of 1.54 and a beta of 0.97. The company has a fifty day simple moving average of $38.07 and a 200 day simple moving average of $38.87. Gorman-Rupp has a 1 year low of $30.47 and a 1 year high of $43.79. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99.

Gorman-Rupp (NYSE:GRC) last posted its earnings results on Friday, February 7th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). Gorman-Rupp had a net margin of 6.08% and a return on equity of 12.79%. During the same quarter last year, the business earned $0.34 earnings per share. Sell-side analysts anticipate that Gorman-Rupp will post 1.98 EPS for the current fiscal year.

Institutional Trading of Gorman-Rupp

Several hedge funds have recently added to or reduced their stakes in GRC. Assenagon Asset Management S.A. lifted its holdings in shares of Gorman-Rupp by 44.8% during the third quarter. Assenagon Asset Management S.A. now owns 79,770 shares of the industrial products company’s stock worth $3,107,000 after buying an additional 24,683 shares during the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Gorman-Rupp by 3.7% in the third quarter. Creative Financial Designs Inc. ADV now owns 20,012 shares of the industrial products company’s stock worth $779,000 after acquiring an additional 710 shares during the last quarter. Farther Finance Advisors LLC increased its position in Gorman-Rupp by 5,461.5% during the third quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 710 shares during the period. Principal Financial Group Inc. acquired a new position in Gorman-Rupp during the 3rd quarter valued at $399,000. Finally, Summit Global Investments bought a new stake in Gorman-Rupp in the 3rd quarter valued at $470,000. Institutional investors own 59.26% of the company’s stock.

About Gorman-Rupp

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.