Graham (NYSE:GHM) Now Covered by Analysts at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of Graham (NYSE:GHM) in a report released on Friday, Briefing.com reports. The firm set an “overweight” rating and a $120.00 price target on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 38.25% from the company’s current price.

Several other equities research analysts have also commented on the stock. Wall Street Zen upgraded shares of Graham from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Northland Securities upped their price target on shares of Graham from $111.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Zacks Research cut shares of Graham from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Weiss Ratings raised Graham from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, September 16th. Finally, Oppenheimer upped their target price on Graham to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Graham currently has a consensus rating of “Moderate Buy” and an average target price of $128.33.

Graham Stock Up 0.6%

Shares of NYSE:GHM opened at $86.80 on Friday. The firm has a 50-day simple moving average of $94.54 and a 200 day simple moving average of $97.22. Graham has a fifty-two week low of $52.57 and a fifty-two week high of $125.82. The company has a market cap of $1.02 billion, a PE ratio of 83.46 and a beta of 1.08.

Graham (NYSE:GHM) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $71.34 million for the quarter, compared to analysts’ expectations of $65.60 million. Graham had a return on equity of 11.09% and a net margin of 4.53%.The business’s quarterly revenue was up 28.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 EPS. As a group, research analysts forecast that Graham will post 1.87 EPS for the current fiscal year.

Institutional Trading of Graham

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Westport Asset Management Inc. acquired a new stake in shares of Graham during the second quarter worth approximately $171,000. Corient Private Wealth LP increased its stake in Graham by 9.5% in the 2nd quarter. Corient Private Wealth LP now owns 2,863 shares of the industrial products company’s stock valued at $354,000 after buying an additional 249 shares during the period. Diversified Trust Co lifted its position in Graham by 8.3% in the 1st quarter. Diversified Trust Co now owns 4,267 shares of the industrial products company’s stock worth $337,000 after buying an additional 326 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Graham during the 2nd quarter valued at $52,000. Finally, State of Wyoming grew its holdings in shares of Graham by 12.1% during the 4th quarter. State of Wyoming now owns 5,416 shares of the industrial products company’s stock valued at $348,000 after acquiring an additional 584 shares in the last quarter. 69.46% of the stock is currently owned by institutional investors.

Graham Company Profile

Graham Corporation (NYSE: GHM) designs and manufactures engineered vacuum and heat-transfer equipment for industrial, defense and aerospace applications. Its products include ejectors, vacuum systems, surface condensers, heat exchangers, feedwater heaters and other specialized thermal-management equipment.

The company serves customers in the U.S. Navy and other defense markets, as well as power generation, chemical processing, refining and related industries. Graham’s equipment is used in applications that require steam, heat transfer, condensation or controlled vacuum conditions, including marine propulsion and industrial process systems.

Founded in 1936 and headquartered in Batavia, New York, Graham has historically supplied equipment to customers in the United States and international markets.