Gorman-Rupp (NYSE:GRC) Rating Lowered to “Buy” at StockNews.com

Gorman-Rupp (NYSE:GRC) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.

Gorman-Rupp Trading Up 1.3 %

Shares of NYSE:GRC opened at $42.55 on Thursday. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 1.75 and a beta of 0.92. The business’s 50 day moving average price is $39.11 and its 200-day moving average price is $37.65. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.39 and a quick ratio of 1.38. Gorman-Rupp has a 1 year low of $30.47 and a 1 year high of $42.89.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GRC. Bailard Inc. raised its holdings in shares of Gorman-Rupp by 1.8% during the second quarter. Bailard Inc. now owns 20,995 shares of the industrial products company’s stock valued at $771,000 after acquiring an additional 378 shares during the last quarter. CWM LLC increased its position in shares of Gorman-Rupp by 76.8% during the second quarter. CWM LLC now owns 921 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 400 shares in the last quarter. ClariVest Asset Management LLC raised its stake in Gorman-Rupp by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 18,920 shares of the industrial products company’s stock valued at $695,000 after purchasing an additional 529 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its holdings in Gorman-Rupp by 3.7% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 20,012 shares of the industrial products company’s stock valued at $779,000 after purchasing an additional 710 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in Gorman-Rupp by 5,461.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 710 shares in the last quarter. 59.26% of the stock is owned by hedge funds and other institutional investors.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company’s products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.