Graham (NYSE:GHM) Sets New 1-Year High – Here’s What Happened

Graham Corporation (NYSE:GHM)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $115.14 and last traded at $113.9990, with a volume of 13773 shares trading hands. The stock had previously closed at $107.57.

Wall Street Analyst Weigh In

GHM has been the subject of a number of research reports. Zacks Research cut shares of Graham from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Northland Securities set a $111.00 target price on shares of Graham in a report on Tuesday, June 9th. Wall Street Zen cut shares of Graham from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Weiss Ratings upgraded Graham from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, June 9th. Finally, Oppenheimer increased their price target on Graham from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Tuesday, June 9th. Three equities research 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, Graham has an average rating of “Moderate Buy” and a consensus target price of $95.33.

Graham Stock Up 2.7%

The business’s 50 day moving average is $97.59 and its 200 day moving average is $82.59. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.68 and a current ratio of 1.00. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 103.13 and a beta of 1.04.

Graham (NYSE:GHM) last posted its quarterly earnings data on Monday, June 8th. The industrial products company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. Graham had a net margin of 5.10% and a return on equity of 11.94%. The firm had revenue of $67.08 million during the quarter, compared to analyst estimates of $59.95 million. During the same quarter last year, the business posted $0.40 EPS. The company’s revenue was up 13.0% on a year-over-year basis. Equities analysts expect that Graham Corporation will post 1.85 earnings per share for the current year.

Institutional Investors Weigh In On Graham

A number of institutional investors have recently bought and sold shares of GHM. Rhumbline Advisers boosted its position in Graham by 40.6% during the 2nd quarter. Rhumbline Advisers now owns 14,755 shares of the industrial products company’s stock worth $731,000 after acquiring an additional 4,257 shares during the period. Quantbot Technologies LP acquired a new stake in Graham during the 2nd quarter worth about $325,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Graham during the 2nd quarter valued at $226,000. Invesco Ltd. boosted its stake in shares of Graham by 1,396.0% during the 2nd quarter. Invesco Ltd. now owns 115,893 shares of the industrial products company’s stock valued at $5,738,000 after buying an additional 108,146 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of Graham during the 2nd quarter valued at $783,000. 69.46% of the stock is currently owned by institutional investors and hedge funds.

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.