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

Graham Corporation (NYSE:GHM) shares hit a new 52-week high on Thursday . The stock traded as high as $76.81 and last traded at $74.61, with a volume of 13980 shares. The stock had previously closed at $74.53.

Analysts Set New Price Targets

Several research firms recently commented on GHM. Wall Street Zen raised Graham from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Noble Financial cut shares of Graham from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 21st. Weiss Ratings downgraded shares of Graham from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Finally, Zacks Research cut Graham from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.00.

Graham Price Performance

The business’s 50-day moving average price is $63.90 and its 200-day moving average price is $57.55. The firm has a market capitalization of $816.41 million, a PE ratio of 59.99 and a beta of 0.93.

Graham (NYSE:GHM) last posted its quarterly earnings data on Friday, November 7th. The industrial products company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The business had revenue of $66.03 million during the quarter, compared to analyst estimates of $57.55 million. Graham had a net margin of 6.00% and a return on equity of 12.44%. Equities analysts forecast that Graham Corporation will post 1.07 earnings per share for the current year.

Institutional Trading of Graham

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its holdings in Graham by 16.1% during the fourth quarter. Exchange Traded Concepts LLC now owns 134,480 shares of the industrial products company’s stock worth $8,638,000 after purchasing an additional 18,634 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Graham by 158.5% during the 4th quarter. SG Americas Securities LLC now owns 6,479 shares of the industrial products company’s stock worth $416,000 after buying an additional 3,973 shares in the last quarter. Diversified Trust Co. acquired a new stake in shares of Graham in the 4th quarter valued at approximately $253,000. JPMorgan Chase & Co. boosted its stake in shares of Graham by 383.1% in the third quarter. JPMorgan Chase & Co. now owns 24,289 shares of the industrial products company’s stock valued at $1,333,000 after buying an additional 19,261 shares in the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in Graham during the third quarter worth $1,142,000. 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.