Graham (NYSE:GHM) Hits New 52-Week High Following Better-Than-Expected Earnings

Graham Corporation (NYSE:GHM) hit a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $82.00 and last traded at $77.9550, with a volume of 8262 shares trading hands. The stock had previously closed at $73.75.

The industrial products company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.06. Graham had a net margin of 6.00% and a return on equity of 12.44%. The business had revenue of $56.70 million during the quarter, compared to analyst estimates of $52.36 million.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GHM. Northland Securities downgraded Graham from an “outperform” rating to a “market perform” rating and set a $80.00 target price for the company. in a research report on Tuesday, January 27th. Noble Financial downgraded Graham from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 21st. Wall Street Zen raised shares of Graham from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Weiss Ratings downgraded Graham from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $72.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey boosted its position in Graham by 15.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 2,371 shares of the industrial products company’s stock valued at $117,000 after buying an additional 310 shares during the period. Raymond James Financial Inc. grew its position in Graham by 1.5% during the 3rd quarter. Raymond James Financial Inc. now owns 21,608 shares of the industrial products company’s stock valued at $1,186,000 after purchasing an additional 319 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Graham by 62.8% during the second quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 410 shares in the last quarter. Auto Owners Insurance Co raised its stake in shares of Graham by 4.8% in the second quarter. Auto Owners Insurance Co now owns 11,000 shares of the industrial products company’s stock worth $545,000 after purchasing an additional 500 shares during the last quarter. Finally, Blue Trust Inc. purchased a new stake in shares of Graham during the 3rd quarter valued at about $28,000. Institutional investors and hedge funds own 69.46% of the company’s stock.

Graham Price Performance

The company’s 50-day simple moving average is $67.60 and its two-hundred day simple moving average is $59.15. The firm has a market capitalization of $859.14 million, a P/E ratio of 63.04 and a beta of 0.92.

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.