Graham (NYSE:GHM) Reaches New 12-Month High After Better-Than-Expected Earnings

Shares of Graham Corporation (NYSE:GHM) reached a new 52-week high on Friday after the company announced better than expected quarterly earnings. The company traded as high as $82.00 and last traded at $77.9550, with a volume of 8262 shares trading hands. The stock had previously closed at $73.75.

The industrial products company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.06. The company had revenue of $56.70 million for the quarter, compared to analysts’ expectations of $52.36 million. Graham had a return on equity of 12.44% and a net margin of 6.00%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Noble Financial cut Graham from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 21st. Wall Street Zen upgraded Graham from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Weiss Ratings lowered shares of Graham from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Finally, Northland Securities cut shares of Graham from an “outperform” rating to a “market perform” rating and set a $80.00 target price for the company. in a research report on Tuesday, January 27th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $72.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. William Blair Investment Management LLC acquired a new stake in shares of Graham during the third quarter worth approximately $15,043,000. Alyeska Investment Group L.P. bought a new position in shares of Graham during the 3rd quarter worth approximately $10,356,000. Invesco Ltd. grew its position in Graham by 1,396.0% during the 2nd quarter. Invesco Ltd. now owns 115,893 shares of the industrial products company’s stock worth $5,738,000 after acquiring an additional 108,146 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Graham by 24.0% in the third quarter. Royce & Associates LP now owns 459,698 shares of the industrial products company’s stock valued at $25,237,000 after purchasing an additional 89,014 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its stake in shares of Graham by 56.8% during the second quarter. Kennedy Capital Management LLC now owns 185,374 shares of the industrial products company’s stock worth $9,178,000 after buying an additional 67,139 shares during the last quarter. Institutional investors own 69.46% of the company’s stock.

Graham Stock Up 6.0%

The stock’s fifty day moving average is $67.60 and its 200-day moving average is $59.15. The stock has a market cap of $859.14 million, a price-to-earnings ratio of 63.04 and a beta of 0.92.

Graham Company Profile

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.