Graham (NYSE:GHM) Hits New 12-Month High – Here’s What Happened

Graham Corporation (NYSE:GHM)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $125.82 and last traded at $124.0180, with a volume of 295504 shares traded. The stock had previously closed at $119.82.

Analyst Upgrades and Downgrades

GHM has been the subject of several research analyst reports. Oppenheimer lifted their price objective on Graham to $130.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Zacks Research lowered Graham from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. Northland Securities lifted their target price on shares of Graham from $111.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 23rd. Weiss Ratings raised Graham from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 9th. Finally, Wall Street Zen downgraded Graham from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

Graham Stock Up 3.5%

The company’s fifty day simple moving average is $101.97 and its 200 day simple moving average is $86.18. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $1.45 billion, a PE ratio of 109.75 and a beta of 1.04.

Graham (NYSE:GHM) last posted its earnings results on Monday, June 8th. The industrial products company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Graham had a return on equity of 11.94% and a net margin of 5.10%.The firm had revenue of $67.08 million for the quarter, compared to the consensus estimate of $59.95 million. During the same quarter in the prior year, the business earned $0.40 EPS. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. Analysts anticipate that Graham Corporation will post 1.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Graham

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Capital Management Inc. lifted its position in Graham by 10.1% during the first quarter. American Capital Management Inc. now owns 51,520 shares of the industrial products company’s stock valued at $4,066,000 after buying an additional 4,717 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Graham by 35.1% during the 1st quarter. Quantinno Capital Management LP now owns 6,160 shares of the industrial products company’s stock valued at $486,000 after buying an additional 1,601 shares in the last quarter. Bank of Nova Scotia grew its position in shares of Graham by 29.1% in the 1st quarter. Bank of Nova Scotia now owns 4,878 shares of the industrial products company’s stock worth $385,000 after buying an additional 1,100 shares during the period. Sei Investments Co. grew its position in shares of Graham by 62.4% in the 1st quarter. Sei Investments Co. now owns 63,553 shares of the industrial products company’s stock worth $5,016,000 after buying an additional 24,419 shares during the period. Finally, Calamos Advisors LLC increased its stake in shares of Graham by 4.1% in the 1st quarter. Calamos Advisors LLC now owns 24,660 shares of the industrial products company’s stock worth $1,946,000 after acquiring an additional 979 shares in the last quarter. 69.46% of the stock is owned by hedge funds and other institutional investors.

About Graham

Graham Corporation (NYSE: GHM) is a U.S.-based industrial engineering company that designs, manufactures and services vacuum and heat transfer equipment. Its core offerings include liquid ring vacuum pumps, surface condensers, heat exchangers and custom-engineered vacuum systems. These products play a critical role in energy-intensive industries, where reliable removal of non-condensable gases and efficient heat exchange are vital to process performance.

The company’s technologies find application across a range of end markets, including power generation, petrochemical, oil and gas, LNG, and semiconductor manufacturing.