Gorman-Rupp Co (NYSEMKT:GRC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $36.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.57% from the stock’s current price.
According to Zacks, “The Gorman-Rupp Company designs, manufactures and sells pumps and related equipment (pump and motor controls) for use in water, wastewater, construction, industrial, petroleum, original equipment, agricultural, fire protection, military and other liquid-handling applications. “
Separately, TheStreet raised shares of Gorman-Rupp from a “c+” rating to a “b-” rating in a report on Monday, August 21st.
Gorman-Rupp (NYSEMKT:GRC) last posted its quarterly earnings results on Friday, October 27th. The industrial products company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.25 by $0.08. Gorman-Rupp had a net margin of 8.02% and a return on equity of 10.14%. The company had revenue of $93.98 million for the quarter, compared to analyst estimates of $95.91 million. During the same period in the prior year, the company earned $0.27 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis.
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In other news, Director Kenneth R. Reynolds bought 2,500 shares of the stock in a transaction dated Tuesday, August 29th. The shares were acquired at an average cost of $28.17 per share, with a total value of $70,425.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher H. Lake sold 2,200 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $27.23, for a total transaction of $59,906.00. The disclosure for this sale can be found here.
Hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new stake in shares of Gorman-Rupp during the 3rd quarter worth about $170,000. KCG Holdings Inc. purchased a new stake in shares of Gorman-Rupp during the 1st quarter worth about $208,000. PNC Financial Services Group Inc. boosted its stake in shares of Gorman-Rupp by 1.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,889 shares of the industrial products company’s stock worth $226,000 after acquiring an additional 94 shares in the last quarter. Voya Investment Management LLC boosted its stake in shares of Gorman-Rupp by 14.2% during the 2nd quarter. Voya Investment Management LLC now owns 10,428 shares of the industrial products company’s stock worth $266,000 after acquiring an additional 1,294 shares in the last quarter. Finally, American International Group Inc. boosted its stake in shares of Gorman-Rupp by 7.0% during the 1st quarter. American International Group Inc. now owns 10,846 shares of the industrial products company’s stock worth $341,000 after acquiring an additional 714 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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