Graham Corp. (GHM) Upgraded by Zacks Investment Research to Buy
Zacks Investment Research upgraded shares of Graham Corp. (NYSE:GHM) from a hold rating to a buy rating in a research report sent to investors on Wednesday. They currently have $21.00 price objective on the stock.
According to Zacks, “Graham Corporation designs and builds vacuum and heat transfer equipment for process industries and energy markets worldwide. The Company’s products include steam jet ejector vacuum systems and liquid ring vacuum pumps, surface condensers, Heliflows, water heaters, and various types of heat exchangers. It markets to chemical, petrochemical, petroleum refining, and electric power generating industries, including cogeneration and geothermal plants. Graham Corporation is headquartered in Batavia, New York. “
Shares of Graham Corp. (NYSE:GHM) opened at 18.83 on Wednesday. The firm’s 50-day moving average price is $18.75 and its 200-day moving average price is $18.73. Graham Corp. has a 12 month low of $14.39 and a 12 month high of $21.09. The company has a market capitalization of $182.90 million, a price-to-earnings ratio of 48.28 and a beta of 1.26.
Graham Corp. (NYSE:GHM) last released its quarterly earnings results on Friday, July 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Graham Corp. had a return on equity of 3.77% and a net margin of 4.55%. The company had revenue of $22 million for the quarter, compared to analysts’ expectations of $20.35 million. During the same period in the prior year, the firm earned $0.23 earnings per share. The firm’s revenue was down 19.0% compared to the same quarter last year. Equities research analysts expect that Graham Corp. will post $0.31 EPS for the current year.
In other news, CAO Jennifer R. Condame sold 4,974 shares of the stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $18.10, for a total value of $90,029.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.50% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. boosted its stake in Graham Corp. by 4.6% in the second quarter. American Century Companies Inc. now owns 610,363 shares of the company’s stock worth $11,243,000 after buying an additional 26,691 shares in the last quarter. Thomson Horstmann & Bryant Inc. boosted its stake in Graham Corp. by 8.2% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 398,088 shares of the company’s stock worth $7,332,000 after buying an additional 30,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in Graham Corp. by 1.4% in the second quarter. Vanguard Group Inc. now owns 349,300 shares of the company’s stock worth $6,434,000 after buying an additional 4,854 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Graham Corp. by 5.6% in the second quarter. Dimensional Fund Advisors LP now owns 325,525 shares of the company’s stock worth $5,996,000 after buying an additional 17,289 shares in the last quarter. Finally, WCM Investment Management CA boosted its stake in Graham Corp. by 4.9% in the second quarter. WCM Investment Management CA now owns 251,961 shares of the company’s stock worth $4,641,000 after buying an additional 11,870 shares in the last quarter. Institutional investors own 74.51% of the company’s stock.
About Graham Corp.
Graham Corporation designs, manufactures and sells critical equipment for the energy, defense and chemical/petrochemical industries. The Company designs and manufactures custom-engineered ejectors, vacuum pumping systems, surface condensers and vacuum systems. It is a nuclear code accredited fabrication and specialty machining company.
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