Graham (NYSE:GHM) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Graham (NYSE:GHM) from a buy rating to a hold rating in a research report released on Friday.

Separately, Noble Financial started coverage on shares of Graham in a report on Monday, June 24th. They set an outperform rating and a $35.00 price target for the company.

Graham Trading Up 1.3 %

Shares of NYSE:GHM opened at $29.71 on Friday. The stock has a market capitalization of $322.98 million, a PE ratio of 69.09 and a beta of 0.59. Graham has a 1 year low of $14.78 and a 1 year high of $34.72. The firm has a fifty day moving average price of $29.59 and a 200 day moving average price of $27.71.

Graham (NYSE:GHM) last issued its quarterly earnings data on Wednesday, August 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.15. The firm had revenue of $49.95 million during the quarter, compared to analysts’ expectations of $50.00 million. Graham had a net margin of 2.46% and a return on equity of 4.45%. During the same period in the prior year, the company posted $0.25 earnings per share. On average, sell-side analysts forecast that Graham will post 0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Graham

A number of hedge funds have recently bought and sold shares of GHM. Hillsdale Investment Management Inc. boosted its holdings in Graham by 1,640.8% during the first quarter. Hillsdale Investment Management Inc. now owns 147,972 shares of the industrial products company’s stock valued at $4,037,000 after acquiring an additional 139,472 shares during the period. Atria Investments Inc bought a new stake in shares of Graham in the first quarter valued at about $1,118,000. Acadian Asset Management LLC lifted its stake in shares of Graham by 21.4% in the second quarter. Acadian Asset Management LLC now owns 208,095 shares of the industrial products company’s stock valued at $5,858,000 after buying an additional 36,724 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Graham in the second quarter valued at about $904,000. Finally, Wasatch Advisors LP lifted its stake in shares of Graham by 7.4% in the first quarter. Wasatch Advisors LP now owns 360,726 shares of the industrial products company’s stock valued at $9,841,000 after buying an additional 24,961 shares during the period. 69.46% of the stock is currently owned by institutional investors.

About Graham

Graham Corporation, together with its subsidiaries, designs and manufactures fluid, power, heat transfer, and vacuum equipment for chemical and petrochemical processing, defense, space, petroleum refining, cryogenic, energy, and other industries. It offers power plant systems, including ejectors and surface condensers; torpedo ejection, propulsion, and power systems, such as turbines, alternators, regulators, pumps, and blowers; and thermal management systems comprising pumps, blowers, and drive electronics for defense sector.