Graham (NYSE:GHM) Share Price Passes Above 200-Day Moving Average – What’s Next?

Graham Corporation (NYSE:GHM) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $66.86 and traded as high as $88.42. Graham shares last traded at $85.4850, with a volume of 111,193 shares.

Analyst Ratings Changes

GHM has been the subject of several recent research reports. Northland Securities raised Graham from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. Oppenheimer initiated coverage on shares of Graham in a research report on Wednesday, March 18th. They set an “outperform” rating and a $100.00 price objective on the stock. Finally, Weiss Ratings cut shares of Graham from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, February 20th. Three 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 “Moderate Buy” and a consensus target price of $81.67.

Graham Price Performance

The company has a fifty day simple moving average of $80.13 and a two-hundred day simple moving average of $66.94. The company has a market capitalization of $864.32 million, a P/E ratio of 57.84 and a beta of 0.90.

Graham (NYSE:GHM) last released its quarterly earnings results on Friday, February 6th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.14. Graham had a return on equity of 13.26% and a net margin of 6.28%.The company had revenue of $56.70 million during the quarter, compared to the consensus estimate of $52.36 million. Equities analysts anticipate that Graham Corporation will post 1.07 earnings per share for the current year.

Hedge Funds Weigh In On Graham

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GHM. Auto Owners Insurance Co lifted its stake in shares of Graham by 6,323.0% in the fourth quarter. Auto Owners Insurance Co now owns 706,530 shares of the industrial products company’s stock worth $4,538,000 after buying an additional 695,530 shares during the last quarter. Vanguard Group Inc. grew its stake in Graham by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 602,448 shares of the industrial products company’s stock valued at $33,074,000 after buying an additional 12,974 shares during the last quarter. Royce & Associates LP grew its stake in Graham by 2.7% in the 4th quarter. Royce & Associates LP now owns 472,207 shares of the industrial products company’s stock valued at $30,330,000 after buying an additional 12,509 shares during the last quarter. Wasatch Advisors LP raised its holdings in Graham by 6.1% in the 2nd quarter. Wasatch Advisors LP now owns 316,203 shares of the industrial products company’s stock worth $15,655,000 after acquiring an additional 18,084 shares during the period. Finally, William Blair Investment Management LLC raised its holdings in Graham by 8.8% in the 4th quarter. William Blair Investment Management LLC now owns 298,020 shares of the industrial products company’s stock worth $19,142,000 after acquiring an additional 24,005 shares during the period. Institutional investors and hedge funds 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.