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

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

Gorman-Rupp Price Performance

NYSE GRC traded up $0.14 during trading on Monday, hitting $38.08. 74,481 shares of the company’s stock were exchanged, compared to its average volume of 57,659. The company has a market cap of $998.76 million, a PE ratio of 26.26, a P/E/G ratio of 1.47 and a beta of 0.97. The company has a current ratio of 2.39, a quick ratio of 1.38 and a debt-to-equity ratio of 0.99. The stock’s 50 day moving average price is $38.29 and its two-hundred day moving average price is $38.81. Gorman-Rupp has a fifty-two week low of $30.47 and a fifty-two week high of $43.79.

Gorman-Rupp (NYSE:GRC) last posted its earnings results on Friday, February 7th. The industrial products company reported $0.42 earnings per share 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 quarter in the prior year, the firm posted $0.34 EPS. Research analysts expect that Gorman-Rupp will post 1.78 EPS for the current year.

Institutional Trading of Gorman-Rupp

Several institutional investors have recently added to or reduced their stakes in GRC. nVerses Capital LLC acquired a new position in shares of Gorman-Rupp in the 3rd quarter worth approximately $31,000. Copeland Capital Management LLC bought a new position in Gorman-Rupp during the third quarter worth $58,000. Assenagon Asset Management S.A. boosted its position in 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 valued at $3,107,000 after acquiring an additional 24,683 shares during the last quarter. Financial Management Professionals Inc. acquired a new stake in Gorman-Rupp during the 3rd quarter worth about $29,000. Finally, Creative Financial Designs Inc. ADV boosted its position in shares of Gorman-Rupp by 3.7% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 20,012 shares of the industrial products company’s stock valued at $779,000 after purchasing an additional 710 shares in the last quarter. 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.