Graham (NYSE:GHM) Shares Gap Up – Here’s What Happened

Graham Corporation (NYSE:GHM) shares gapped up prior to trading on Friday . The stock had previously closed at $83.62, but opened at $87.01. Graham shares last traded at $83.2260, with a volume of 22,673 shares traded.

Analyst Upgrades and Downgrades

GHM has been the topic of several analyst reports. Weiss Ratings raised shares of Graham from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Zacks Research cut shares of Graham from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Oppenheimer raised their price objective on shares of Graham to $130.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. Wall Street Zen raised shares of Graham from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Northland Securities increased their price objective on shares of Graham from $111.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $132.50.

Graham Stock Performance

The business’s fifty day moving average is $98.63 and its two-hundred day moving average is $97.05. The company has a market cap of $971.95 million, a P/E ratio of 80.05 and a beta of 1.05.

Graham (NYSE:GHM) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. Graham had a return on equity of 11.09% and a net margin of 4.53%.The firm had revenue of $71.34 million during the quarter, compared to the consensus estimate of $65.60 million. During the same period in the previous year, the company posted $0.45 earnings per share. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. Analysts expect that Graham Corporation will post 1.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Graham

Several hedge funds and other institutional investors have recently modified their holdings of GHM. Westport Asset Management Inc. acquired a new position in shares of Graham in the 2nd quarter valued at $171,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Graham in the 2nd quarter worth $52,000. Silvant Capital Management LLC acquired a new stake in Graham during the 2nd quarter worth about $101,000. Fifth Third Bancorp purchased a new stake in Graham during the 1st quarter valued at about $69,000. Finally, Citizens Financial Group Inc. RI purchased a new stake in Graham during the 2nd quarter valued at about $1,456,000. 69.46% of the stock is owned by hedge funds and other institutional investors.

Graham Company Profile

Graham Corporation (NYSE: GHM) designs and manufactures engineered vacuum and heat-transfer equipment for industrial, defense and aerospace applications. Its products include ejectors, vacuum systems, surface condensers, heat exchangers, feedwater heaters and other specialized thermal-management equipment.

The company serves customers in the U.S. Navy and other defense markets, as well as power generation, chemical processing, refining and related industries. Graham’s equipment is used in applications that require steam, heat transfer, condensation or controlled vacuum conditions, including marine propulsion and industrial process systems.

Founded in 1936 and headquartered in Batavia, New York, Graham has historically supplied equipment to customers in the United States and international markets.