Gorman-Rupp Downgraded to Neutral at Zacks (GRC)
Gorman-Rupp (NYSE:GRC) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued to investors on Monday, StockRatingsNetwork reports. They currently have a $43.80 price target on the stock. Zacks‘ price objective would indicate a potential upside of 16.00% from the stock’s previous close.
In other Gorman-Rupp news, Director Peter Lake unloaded 3,322 shares of Gorman-Rupp stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $41.80, for a total value of $138,859.60. Following the completion of the sale, the director now directly owns 3,358 shares of the company’s stock, valued at approximately $140,364. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Sidoti downgraded shares of Gorman-Rupp from a “buy” rating to a “neutral” rating in a research note to investors on Friday, September 20th. Analysts at Jefferies Group reiterated an “underperform” rating on shares of Gorman-Rupp in a research note to investors on Monday, July 29th. They now have a $29.00 price target on the stock, up previously from $23.00.
Gorman-Rupp (NYSE:GRC) traded down 1.51% during mid-day trading on Monday, hitting $37.76. 32,718 shares of the company’s stock traded hands. Gorman-Rupp has a 52-week low of $25.51 and a 52-week high of $42.35. The stock has a 50-day moving average of $38.29 and a 200-day moving average of $32.60. The company has a market cap of $793.0 million and a price-to-earnings ratio of 31.71.
Gorman-Rupp (NYSE:GRC) last released its earnings data on Friday, July 26th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.15. The company had revenue of $106.40 million for the quarter, compared to the consensus estimate of $94.27 million.
The Gorman-Rupp Company (NYSE:GRC) manufactures and globally sells pumps and related equipment (pump and motor controls) for use in water, wastewater, construction, industrial, petroleum, original equipment, agriculture, fire protection, heating, ventilating and air conditioning (HVAC), military and other liquid-handling applications.
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