Posted by admin on May 26th, 2022
Gorman-Rupp (NYSE:GRC – Get Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday.
Separately, Sidoti upgraded shares of Gorman-Rupp from a “neutral” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Monday, February 7th.
Shares of NYSE GRC remained flat at $$28.60 during midday trading on Wednesday. The stock had a trading volume of 69,350 shares, compared to its average volume of 73,521. Gorman-Rupp has a twelve month low of $28.15 and a twelve month high of $47.12. The stock’s 50-day moving average price is $33.46 and its two-hundred day moving average price is $38.77. The company has a market capitalization of $745.86 million, a PE ratio of 24.87 and a beta of 0.62.
Gorman-Rupp (NYSE:GRC – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The industrial products company reported $0.34 earnings per share for the quarter. Gorman-Rupp had a return on equity of 9.97% and a net margin of 7.65%. The firm had revenue of $102.17 million during the quarter.
Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its position in shares of Gorman-Rupp by 61.9% in the 1st quarter. Victory Capital Management Inc. now owns 336,775 shares of the industrial products company’s stock worth $10,730,000 after acquiring an additional 128,722 shares in the last quarter. Eaton Vance Management acquired a new position in Gorman-Rupp in the first quarter worth $4,252,000. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 valued at $18,629,000 after purchasing an additional 76,787 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Gorman-Rupp during the first quarter worth $2,271,000. Finally, Lbmc Investment Advisors LLC lifted its position in shares of Gorman-Rupp by 8,757.4% in the 4th quarter. Lbmc Investment Advisors LLC now owns 61,116 shares of the industrial products company’s stock worth $2,723,000 after buying an additional 60,426 shares during the last quarter. 55.88% of the stock is currently owned by institutional investors.
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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