Graham (NYSE:GHM) Stock Price Down 11.1% – Here’s Why

Shares of Graham Corporation (NYSE:GHM) fell 11.1% on Wednesday . The stock traded as low as $89.58 and last traded at $88.7570. Approximately 136,881 shares changed hands during trading, a decline of 25% from the average daily volume of 183,127 shares. The stock had previously closed at $99.82.

Wall Street Analysts Forecast Growth

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

Graham Price Performance

The company has a market cap of $1.10 billion, a price-to-earnings ratio of 83.31 and a beta of 1.01. The company’s 50-day simple moving average is $106.76 and its 200-day simple moving average is $92.43. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.00 and a quick ratio of 0.68.

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

Hedge Funds Weigh In On Graham

Institutional investors and hedge funds have recently made changes to their positions in the business. Tudor Investment Corp ET AL acquired a new stake in shares of Graham in the 3rd quarter valued at about $1,142,000. Nicholas Investment Partners LP acquired a new position in Graham during the 4th quarter valued at approximately $1,888,000. JPMorgan Chase & Co. grew its position in shares of Graham by 383.1% during the third quarter. JPMorgan Chase & Co. now owns 24,289 shares of the industrial products company’s stock worth $1,333,000 after acquiring an additional 19,261 shares during the last quarter. Agman Capital LLC bought a new stake in shares of Graham during the fourth quarter valued at approximately $14,079,000. Finally, Legato Capital Management LLC increased its position in Graham by 21.7% in the 4th quarter. Legato Capital Management LLC now owns 50,519 shares of the industrial products company’s stock valued at $3,245,000 after acquiring an additional 9,004 shares during the period. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

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.