Graham (NYSE:GHM) Sets New 52-Week High – Here’s Why

Graham Corporation (NYSE:GHM) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $121.16 and last traded at $119.7720, with a volume of 23109 shares traded. The stock had previously closed at $115.32.

Wall Street Analysts Forecast Growth

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

Graham Trading Up 5.1%

The firm has a market cap of $1.42 billion, a PE ratio of 108.72 and a beta of 1.04. The company has a 50-day simple moving average of $99.63 and a 200 day simple moving average of $84.47. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 0.09.

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, beating the consensus estimate of $0.30 by $0.03. Graham had a net margin of 5.10% and a return on equity of 11.94%. The firm had revenue of $67.08 million during the quarter, compared to analyst estimates of $59.95 million. During the same period in the previous year, the firm earned $0.40 EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis. As a group, sell-side analysts forecast that Graham Corporation will post 1.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Auto Owners Insurance Co raised its position in shares of Graham by 6,323.0% in the fourth quarter. Auto Owners Insurance Co now owns 706,530 shares of the industrial products company’s stock worth $4,538,000 after acquiring an additional 695,530 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of Graham during the 3rd quarter valued at about $15,043,000. Royal Bank of Canada increased its stake in shares of Graham by 7,833.6% in the 4th quarter. Royal Bank of Canada now owns 245,625 shares of the industrial products company’s stock valued at $15,777,000 after purchasing an additional 242,529 shares in the last quarter. Agman Capital LLC purchased a new position in shares of Graham in the 4th quarter valued at about $14,079,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Graham in the 3rd quarter valued at about $10,356,000. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Graham Company Profile

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.