Gorman-Rupp Stock Rating Reaffirmed by Janney Montgomery Scott (GRC)
Gorman-Rupp (NYSE:GRC)‘s stock had its “fair value” rating reaffirmed by equities researchers at Janney Montgomery Scott in a research report issued on Friday, AmericanBankingNews.com reports. They currently have a $35.00 price objective on the stock, up from their previous price objective of $34.00. Janney Montgomery Scott’s price objective would indicate a potential upside of 16.09% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group upgraded shares of Gorman-Rupp from an “underperform” rating to a “hold” rating in a research note to investors on Tuesday, January 14th. Separately, analysts at Sidoti upgraded shares of Gorman-Rupp to a “buy” rating in a research note to investors on Tuesday, December 24th. Finally, analysts at Sidoti upgraded shares of Gorman-Rupp from a “neutral” rating to a “buy” rating in a research note to investors on Monday, December 23rd.
Shares of Gorman-Rupp (NYSE:GRC) traded down 0.40% during mid-day trading on Friday, hitting $30.15. The stock had a trading volume of 52,077 shares. Gorman-Rupp has a one year low of $21.44 and a one year high of $35.16. The stock has a 50-day moving average of $32.61 and a 200-day moving average of $31.07. The company has a market cap of $791.5 million and a price-to-earnings ratio of 29.85.
Gorman-Rupp (NYSE:GRC) last issued its quarterly earnings data on Friday, February 7th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.27 by $0.02. The company had revenue of $91.60 million for the quarter, compared to the consensus estimate of $95.52 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts expect that Gorman-Rupp will post $1.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of 0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Wednesday, February 12th. This is an increase from Gorman-Rupp’s previous quarterly dividend of $0.07.
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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