Gorman-Rupp Co. (GRC) Earns Neutral Rating from Analysts at Sidoti
Investment analysts at Sidoti began coverage on shares of Gorman-Rupp Co. (NYSEMKT:GRC) in a research note issued on Tuesday. The firm set a “neutral” rating on the stock.
GRC has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 29th. TheStreet downgraded shares of Gorman-Rupp from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Seven research analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.88.
Gorman-Rupp (NYSEMKT:GRC) traded up 0.62% during mid-day trading on Tuesday, hitting $25.93. 4,907 shares of the stock traded hands. The company’s 50 day moving average price is $26.87 and its 200-day moving average price is $27.36. Gorman-Rupp has a 1-year low of $21.09 and a 1-year high of $32.60. The stock has a market cap of $676.54 million, a price-to-earnings ratio of 28.06 and a beta of 1.13.
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Gorman-Rupp (NYSEMKT:GRC) last released its quarterly earnings data on Friday, July 29th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. The firm had revenue of $96.30 million for the quarter, compared to the consensus estimate of $97.70 million. The firm’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. Analysts predict that Gorman-Rupp will post $0.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 15th were issued a dividend of $0.105 per share. This represents a $0.42 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, August 11th. Gorman-Rupp’s dividend payout ratio is currently 45.65%.
In related news, Director Kenneth R. Reynolds acquired 2,500 shares of Gorman-Rupp stock in a transaction dated Thursday, August 11th. The shares were purchased at an average price of $27.00 per share, for a total transaction of $67,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director W Wayne Walston sold 2,000 shares of Gorman-Rupp stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $27.31, for a total transaction of $54,620.00. The disclosure for this sale can be found here.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of Gorman-Rupp by 10.8% in the first quarter. BlackRock Inc. now owns 8,102 shares of the company’s stock valued at $210,000 after buying an additional 790 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of Gorman-Rupp during the second quarter valued at $221,000. Goldman Sachs Group Inc. acquired a new stake in shares of Gorman-Rupp during the first quarter valued at $239,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Gorman-Rupp during the first quarter valued at $242,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Gorman-Rupp during the first quarter valued at $252,000.
The Gorman-Rupp Company designs, manufactures and sells pumps and pump systems. The Company offers its products for use in dewatering; petroleum original equipment; agriculture; fire protection; heating, ventilating and air conditioning; military, and other liquid-handling applications. The Company operates in the manufacture and international sale of pumps and pump systems segment.
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