Graham (NYSE:GHM) Stock Price Up 13.8% – Time to Buy?

Graham Corporation (NYSE:GHM) shares shot up 13.8% during trading on Monday. The company traded as high as $88.49 and last traded at $88.7950. 96,134 shares changed hands during trading, a decline of 50% from the average session volume of 191,554 shares. The stock had previously closed at $78.02.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GHM. JPMorgan Chase & Co. reduced their price objective on Graham from $120.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday. Wall Street Zen upgraded Graham from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. William Blair assumed coverage on shares of Graham in a research report on Monday. They set an “outperform” rating on the stock. Weiss Ratings cut shares of Graham from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 2nd. Finally, Oppenheimer reduced their price objective on Graham from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, October 8th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Graham presently has a consensus rating of “Moderate Buy” and an average price target of $116.67.

Graham Stock Performance

The stock has a market capitalization of $1.04 billion, a P/E ratio of 77.41 and a beta of 1.16. The firm has a fifty day moving average price of $80.15 and a two-hundred day moving average price of $91.09.

Graham (NYSE:GHM) last released its quarterly earnings results on Thursday, November 5th. The industrial products company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.18. Graham had a net margin of 5.05% and a return on equity of 11.56%. The business had revenue of $69.76 million for the quarter, compared to the consensus estimate of $71.07 million. On average, research analysts anticipate that Graham Corporation will post 1.90 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GHM. Westport Asset Management Inc. purchased a new stake in Graham in the 2nd quarter worth $171,000. Corient Private Wealth LP boosted its holdings in shares of Graham by 9.5% in the 2nd quarter. Corient Private Wealth LP now owns 2,863 shares of the industrial products company’s stock worth $354,000 after purchasing an additional 249 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Graham during the 2nd quarter valued at approximately $52,000. Wasatch Advisors LP raised its holdings in Graham by 0.8% during the 2nd quarter. Wasatch Advisors LP now owns 85,103 shares of the industrial products company’s stock valued at $10,535,000 after buying an additional 659 shares during the period. Finally, Silvant Capital Management LLC purchased a new stake in shares of Graham in the second quarter valued at $101,000. 69.46% of the stock is currently owned by institutional investors.

Graham Company Profile

Graham Corporation (NYSE: GHM) is a U.S.-based designer and manufacturer of engineered equipment and systems for the defense, space, and commercial markets. The company develops thermal-management, fluid-handling, vacuum, and power-generation technologies used in demanding industrial and government applications.

Graham supplies equipment for naval vessels, including surface ships and submarines, as well as systems supporting aerospace and space programs. Its products and capabilities include condensers, heat exchangers, vacuum equipment, steam and gas ejectors, cryogenic systems, and integrated propulsion and power solutions.