Graham (NYSE:GHM) Sets New 1-Year High – What’s Next?

Graham Corporation (NYSE:GHM)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $115.14 and last traded at $113.9990, with a volume of 13773 shares. The stock had previously closed at $107.57.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Zacks Research downgraded Graham from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Oppenheimer increased their price objective on shares of Graham from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, June 9th. Weiss Ratings upgraded shares of Graham from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 9th. Northland Securities set a $111.00 target price on shares of Graham in a research note on Tuesday, June 9th. Finally, Wall Street Zen cut shares of Graham from a “hold” rating to a “sell” rating in a report on Saturday. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.33.

Graham Stock Up 6.6%

The company has a market cap of $1.34 billion, a PE ratio of 100.71 and a beta of 1.04. The company’s fifty day moving average is $96.27 and its 200-day moving average is $81.77. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 0.09.

Graham (NYSE:GHM) last posted its quarterly 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 net margin of 5.10% and a return on equity of 11.94%. The business had revenue of $67.08 million during the quarter, compared to analyst estimates of $59.95 million. During the same period in the prior year, the business posted $0.40 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. On average, analysts predict that Graham Corporation will post 1.85 EPS for the current year.

Hedge Funds Weigh In On Graham

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its position in shares of Graham by 62.8% during the second quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 410 shares in the last quarter. Comerica Bank boosted its stake in Graham by 396.2% in the 3rd quarter. Comerica Bank now owns 1,052 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 840 shares during the period. Fifth Third Bancorp purchased a new stake in Graham during the 1st quarter valued at approximately $69,000. Covestor Ltd raised its position in shares of Graham by 4,697.4% during the fourth quarter. Covestor Ltd now owns 1,871 shares of the industrial products company’s stock valued at $120,000 after buying an additional 1,832 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in shares of Graham by 385.1% during the fourth quarter. State of Alaska Department of Revenue now owns 2,925 shares of the industrial products company’s stock valued at $187,000 after buying an additional 2,322 shares during the last quarter. 69.46% of the stock is currently 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.