Shares of Gorman-Rupp Co. (NYSEMKT:GRC) have been assigned an average recommendation of “Hold” from the eight ratings firms that are covering the company. Eight investment analysts have rated the stock with a hold recommendation. The average twelve-month price target among brokerages that have covered the stock in the last year is $10.50.
GRC has been the topic of several recent research reports. TheStreet downgraded Gorman-Rupp from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Zacks Investment Research cut Gorman-Rupp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 28th. Finally, Sidoti began coverage on Gorman-Rupp in a research report on Tuesday, September 20th. They set a “neutral” rating and a $30.00 price objective for the company.
In other news, Director Kenneth R. Reynolds bought 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was purchased at an average cost of $27.00 per share, with a total value of $67,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director W Wayne Walston sold 2,000 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $27.31, for a total value of $54,620.00. The disclosure for this sale can be found here.
Hedge funds have recently made changes to their positions in the stock. Zacks Investment Management bought a new stake in Gorman-Rupp during the second quarter worth $981,000. BNP Paribas Arbitrage SA boosted its stake in Gorman-Rupp by 2,873.6% in the third quarter. BNP Paribas Arbitrage SA now owns 20,280 shares of the company’s stock worth $519,000 after buying an additional 19,598 shares during the last quarter. Spark Investment Management LLC bought a new stake in Gorman-Rupp during the first quarter worth $417,000. Guggenheim Capital LLC boosted its stake in Gorman-Rupp by 31.7% in the second quarter. Guggenheim Capital LLC now owns 56,902 shares of the company’s stock worth $1,561,000 after buying an additional 13,686 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Gorman-Rupp by 102.0% in the second quarter. Janney Montgomery Scott LLC now owns 23,598 shares of the company’s stock worth $639,000 after buying an additional 11,916 shares during the last quarter.
Gorman-Rupp (NYSEMKT:GRC) opened at 23.47 on Tuesday. Gorman-Rupp has a 12 month low of $21.09 and a 12 month high of $32.60. The company’s 50-day moving average price is $25.15 and its 200 day moving average price is $27.12. The stock has a market capitalization of $612.36 million, a PE ratio of 25.40 and a beta of 1.13.
Gorman-Rupp (NYSEMKT:GRC) last issued its quarterly earnings results on Friday, October 28th. The company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.02. The company had revenue of $91.30 million for the quarter, compared to analysts’ expectations of $102.10 million. During the same quarter last year, the company earned $0.22 EPS. Gorman-Rupp’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, analysts forecast that Gorman-Rupp will post $0.96 earnings per share for the current fiscal year.