Gorman-Rupp (NYSE:GRC) Downgraded by Zacks Research to Hold
by Kim Johansen · The Markets DailyZacks Research cut shares of Gorman-Rupp (NYSE:GRC – Free Report) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.
Other analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings lowered Gorman-Rupp from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, June 12th. Finally, Freedom Capital upgraded Gorman-Rupp to a “hold” rating in a report on Monday, May 18th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold”.
Check Out Our Latest Stock Analysis on Gorman-Rupp
Gorman-Rupp Trading Down 1.1%
Shares of GRC stock opened at $76.93 on Monday. The business’s fifty day moving average price is $82.50 and its 200 day moving average price is $73.89. Gorman-Rupp has a 1-year low of $41.85 and a 1-year high of $92.78. The firm has a market capitalization of $2.03 billion, a PE ratio of 32.46, a P/E/G ratio of 2.24 and a beta of 1.29. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.81 and a quick ratio of 1.82.
Gorman-Rupp (NYSE:GRC – Get Free Report) last released its earnings results on Friday, July 24th. The industrial products company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The company had revenue of $186.07 million during the quarter, compared to the consensus estimate of $188.89 million. Gorman-Rupp had a return on equity of 15.55% and a net margin of 8.88%. As a group, sell-side analysts forecast that Gorman-Rupp will post 2.67 EPS for the current fiscal year.
Gorman-Rupp Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 14th. Gorman-Rupp’s dividend payout ratio is 32.07%.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of GRC. Northwestern Mutual Wealth Management Co. purchased a new stake in Gorman-Rupp in the 2nd quarter valued at approximately $28,000. Huntington National Bank purchased a new position in Gorman-Rupp during the fourth quarter worth $31,000. NewEdge Advisors LLC raised its holdings in shares of Gorman-Rupp by 130.7% in the fourth quarter. NewEdge Advisors LLC now owns 669 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 379 shares during the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Gorman-Rupp by 374.0% in the second quarter. TD Waterhouse Canada Inc. now owns 493 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 389 shares during the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of Gorman-Rupp in the first quarter valued at $53,000. 59.26% of the stock is owned by hedge funds and other institutional investors.
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.