Graham (NYSE:GHM) Stock Falls 7.2% – What’s Next?

Graham Corporation (NYSE:GHM) shares traded down 7.2% during trading on Wednesday. The stock traded as low as $72.94 and last traded at $71.98. Approximately 31,096 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 182,786 shares. The stock had previously closed at $77.58.

Wall Street Analysts Forecast Growth

GHM has been the topic of a number of research analyst reports. Northland Securities upped their target price on Graham from $111.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Weiss Ratings lowered Graham from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Oppenheimer lowered their target price on Graham from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, October 8th. Wall Street Zen upgraded Graham from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, JPMorgan Chase & Co. began coverage on Graham in a research report on Friday, October 2nd. They set an “overweight” rating and a $120.00 price target on the stock. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Graham presently has an average rating of “Moderate Buy” and a consensus target price of $123.33.

Graham Stock Down 3.0%

The firm has a market cap of $835.08 million, a PE ratio of 68.41 and a beta of 1.08. The stock’s fifty day simple moving average is $90.99 and its two-hundred day simple moving average is $97.25.

Graham (NYSE:GHM) last announced its earnings results on Thursday, August 6th. The industrial products company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. Graham had a net margin of 4.53% and a return on equity of 11.09%. The business had revenue of $71.34 million during the quarter, compared to the consensus estimate of $65.60 million. During the same quarter last year, the firm earned $0.45 earnings per share. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. On average, equities research analysts anticipate that Graham Corporation will post 1.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Westport Asset Management Inc. purchased a new stake in shares of Graham in the second quarter worth $171,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Graham in the 2nd quarter worth about $52,000. Silvant Capital Management LLC bought a new position in Graham in the 2nd quarter worth about $101,000. Fifth Third Bancorp bought a new position in Graham in the 1st quarter worth about $69,000. Finally, Citizens Financial Group Inc. RI bought a new position in Graham in the 2nd quarter worth about $1,456,000. Hedge funds and other institutional investors own 69.46% of the company’s stock.

About Graham

Graham Corporation (NYSE: GHM) designs and manufactures specialized equipment and systems for defense, aerospace, and energy markets. Its products include vacuum equipment, heat exchangers, condensers, ejectors, and related thermal-management systems used in demanding industrial and government applications.

The company serves the U.S. Navy and other government customers, as well as commercial clients in areas such as power generation and process industries. Graham also provides engineering, fabrication, testing, installation, and aftermarket support services for its equipment and systems.

Founded in 1936 and headquartered in Batavia, New York, Graham has expanded its capabilities through acquisitions, including Barber-Nichols, a Colorado-based engineering and manufacturing business focused on turbomachinery, propulsion, and power-conversion technologies.