Gorman-Rupp Co. (NYSEMKT:GRC) Receives Average Recommendation of “Hold” from Analysts
Gorman-Rupp Co. (NYSEMKT:GRC) has earned a consensus rating of “Hold” from the eight analysts that are presently covering the stock. Seven research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $10.83.
A number of brokerages have commented on GRC. Zacks Investment Research downgraded Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 29th. Sidoti began coverage on Gorman-Rupp in a research note on Tuesday. They issued a “neutral” rating for the company. Finally, TheStreet downgraded Gorman-Rupp from a “buy” rating to a “hold” rating in a research note on Friday, July 29th.
Gorman-Rupp (NYSEMKT:GRC) traded down 0.89% during trading on Wednesday, reaching $25.54. The company had a trading volume of 5,888 shares. The firm has a market capitalization of $666.36 million, a P/E ratio of 27.64 and a beta of 1.13. The company has a 50-day moving average of $26.83 and a 200-day moving average of $27.35. Gorman-Rupp has a 52-week low of $21.09 and a 52-week high of $32.60.
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Gorman-Rupp (NYSEMKT:GRC) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The firm earned $96.30 million during the quarter, compared to the consensus estimate of $97.70 million. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 earnings per share. Analysts expect that Gorman-Rupp will post $0.95 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Monday, August 15th were given a dividend of $0.105 per share. The ex-dividend date was Thursday, August 11th. This represents a $0.42 annualized dividend and a dividend yield of Infinity. Gorman-Rupp’s dividend payout ratio is presently 45.65%.
In other Gorman-Rupp news, Director W Wayne Walston sold 2,000 shares of the company’s stock in a transaction on Friday, August 26th. The stock was sold at an average price of $27.31, for a total value of $54,620.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kenneth R. Reynolds purchased 2,500 shares of the company’s stock in a transaction on Thursday, August 11th. The stock was bought at an average cost of $27.00 per share, for a total transaction of $67,500.00. The disclosure for this purchase can be found here.
Several hedge funds and other institutional investors have recently bought and sold shares of GRC. Mondrian Investment Partners LTD boosted its position in Gorman-Rupp by 7,787.1% in the first quarter. Mondrian Investment Partners LTD now owns 84,234 shares of the company’s stock valued at $2,184,000 after buying an additional 83,166 shares in the last quarter. Zacks Investment Management bought a new position in Gorman-Rupp during the second quarter valued at about $981,000. Spark Investment Management LLC bought a new position in Gorman-Rupp during the first quarter valued at about $417,000. Guggenheim Capital LLC boosted its position in Gorman-Rupp by 31.7% in the second quarter. Guggenheim Capital LLC now owns 56,902 shares of the company’s stock valued at $1,561,000 after buying an additional 13,686 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Gorman-Rupp by 102.0% in the second quarter. Janney Montgomery Scott LLC now owns 23,598 shares of the company’s stock valued at $639,000 after buying an additional 11,916 shares in the last quarter.
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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