Gorman-Rupp Upgraded to “Outperform” at Zacks (GRC)
Gorman-Rupp (NYSE:GRC) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday, AmericanBankingNews.com reports. The firm currently has a $35.70 price target on the stock. Zacks‘ target price suggests a potential upside of 19.00% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Janney Montgomery Scott reiterated a “fair value” rating on shares of Gorman-Rupp in a research note on Friday. They now have a $35.00 price target on the stock, up previously from $34.00. Separately, analysts at Jefferies Group upgraded shares of Gorman-Rupp from an “underperform” rating to a “hold” rating in a research note on Tuesday, January 14th. Finally, analysts at Sidoti upgraded shares of Gorman-Rupp to a “buy” rating in a research note on Tuesday, December 24th.
Gorman-Rupp (NYSE:GRC) traded up 1.60% on Tuesday, hitting $30.48. 15,330 shares of the company’s stock traded hands. Gorman-Rupp has a 52 week low of $21.44 and a 52 week high of $35.16. The stock has a 50-day moving average of $32.59 and a 200-day moving average of $31.16. The company has a market cap of $800.2 million and a P/E ratio of 26.09.
Gorman-Rupp (NYSE:GRC) last posted its quarterly earnings results on Friday, February 7th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.21 earnings per share. Gorman-Rupp’s revenue was up 3.4% compared to the same quarter last year. Analysts expect that Gorman-Rupp will post $1.44 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 10th. Stockholders 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 1.20%. The ex-dividend date of this dividend is Wednesday, February 12th. This is a boost 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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