Graham (NYSE:GHM) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Graham Corporation (NYSE:GHM)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $90.10 and traded as high as $111.44. Graham shares last traded at $108.2850, with a volume of 1,010,990 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wall Street Zen lowered Graham from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Weiss Ratings upgraded shares of Graham from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 9th. Northland Securities upped their price objective on shares of Graham from $111.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, June 23rd. Zacks Research lowered shares of Graham from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Finally, Oppenheimer lifted their target price on shares of Graham to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, June 25th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $132.50.

Graham Stock Up 0.1%

The stock has a market cap of $1.27 billion, a P/E ratio of 95.83 and a beta of 1.01. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 0.09. The company has a 50-day simple moving average of $105.90 and a two-hundred day simple moving average of $90.10.

Graham (NYSE:GHM) last issued its earnings results on Monday, June 8th. The industrial products company reported $0.33 EPS for the quarter, topping 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 company had revenue of $67.08 million for the quarter, compared to the consensus estimate of $59.95 million. During the same period in the previous year, the firm earned $0.40 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts forecast that Graham Corporation will post 1.85 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GHM. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Graham in the 2nd quarter worth approximately $52,000. BNP Paribas Financial Markets increased its position in Graham by 62.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 410 shares during the period. Comerica Bank raised its holdings 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 in the last quarter. Fifth Third Bancorp bought a new stake in shares of Graham during the 1st quarter valued at about $69,000. Finally, Covestor Ltd boosted its stake in shares of Graham by 4,697.4% during the 4th quarter. Covestor Ltd now owns 1,871 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,832 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.

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.