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

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

Gorman-Rupp Price Performance

Shares of GRC stock traded up $1.01 on Thursday, reaching $41.99. 57,048 shares of the company were exchanged, compared to its average volume of 86,268. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 1.75 and a beta of 0.92. The business has a 50-day moving average price of $39.01 and a 200 day moving average price of $37.61. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.38 and a current ratio of 2.39. Gorman-Rupp has a 1 year low of $30.47 and a 1 year high of $42.89.

Institutional Trading of Gorman-Rupp

Institutional investors and hedge funds have recently modified their holdings of the stock. Bailard Inc. grew its stake in Gorman-Rupp by 1.8% during the 2nd 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 in the last quarter. CWM LLC grew its stake in Gorman-Rupp by 76.8% during the 2nd quarter. CWM LLC now owns 921 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 400 shares in the last quarter. ClariVest Asset Management LLC grew its stake in Gorman-Rupp by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 18,920 shares of the industrial products company’s stock valued at $695,000 after acquiring an additional 529 shares in the last quarter. Creative Financial Designs Inc. ADV grew its stake in Gorman-Rupp by 3.7% during 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 acquiring an additional 710 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Gorman-Rupp by 5,461.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 710 shares in the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.

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.