JPMorgan Chase & Co. Issues Pessimistic Forecast for Graham (NYSE:GHM) Stock Price

Graham (NYSE:GHM) had its target price cut by investment analysts at JPMorgan Chase & Co. from $120.00 to $100.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 28.37% from the company’s current price.

A number of other brokerages have also commented on GHM. William Blair began coverage on Graham in a research note on Monday. They set an “outperform” rating for the company. Oppenheimer reduced their price objective on Graham from $130.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, October 8th. Weiss Ratings downgraded Graham from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Finally, Wall Street Zen raised Graham from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $116.67.

Graham Stock Down 0.2%

GHM opened at $77.90 on Friday. The firm has a 50-day simple moving average of $80.15 and a two-hundred day simple moving average of $91.09. Graham has a 52 week low of $52.57 and a 52 week high of $125.82. The company has a market capitalization of $914.51 million, a PE ratio of 67.74 and a beta of 1.16.

Graham (NYSE:GHM) last issued its quarterly earnings data on Thursday, November 5th. The industrial products company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.18. Graham had a return on equity of 11.56% and a net margin of 5.05%. The firm had revenue of $69.76 million during the quarter, compared to analyst estimates of $71.07 million. As a group, sell-side analysts expect that Graham will post 1.90 earnings per share for the current year.

Hedge Funds Weigh In On Graham

Institutional investors and hedge funds have recently made changes to their positions in the business. Westport Asset Management Inc. bought a new stake in shares of Graham in the 2nd quarter valued at approximately $171,000. Corient Private Wealth LP boosted its holdings in shares of Graham by 9.5% in the 2nd quarter. Corient Private Wealth LP now owns 2,863 shares of the industrial products company’s stock worth $354,000 after purchasing an additional 249 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Graham during the 2nd quarter valued at approximately $52,000. Wasatch Advisors LP increased its position in shares of Graham by 0.8% during the 2nd quarter. Wasatch Advisors LP now owns 85,103 shares of the industrial products company’s stock valued at $10,535,000 after purchasing an additional 659 shares during the last quarter. Finally, Silvant Capital Management LLC bought a new position in shares of Graham during the 2nd quarter valued at approximately $101,000. 69.46% of the stock is owned by hedge funds and other institutional investors.

Graham Company Profile

Graham Corporation (NYSE: GHM) is a U.S.-based designer and manufacturer of engineered equipment and systems for the defense, space, and commercial markets. The company develops thermal-management, fluid-handling, vacuum, and power-generation technologies used in demanding industrial and government applications.

Graham supplies equipment for naval vessels, including surface ships and submarines, as well as systems supporting aerospace and space programs. Its products and capabilities include condensers, heat exchangers, vacuum equipment, steam and gas ejectors, cryogenic systems, and integrated propulsion and power solutions.