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

Graham Corporation (NYSE:GHM)’s share price hit a new 52-week high on Wednesday . The company traded as high as $65.20 and last traded at $64.4950, with a volume of 35472 shares changing hands. The stock had previously closed at $61.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GHM shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Graham in a research report on Monday. Zacks Research downgraded Graham from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Wall Street Zen raised Graham from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Finally, Noble Financial downgraded Graham from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Graham Stock Down 2.3%

The stock has a market cap of $692.61 million, a P/E ratio of 50.82 and a beta of 0.92. The firm has a 50 day moving average price of $59.20 and a 200 day moving average price of $52.86.

Graham (NYSE:GHM) last released its earnings results on Friday, November 7th. The industrial products company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.02). Graham had a return on equity of 12.44% and a net margin of 6.00%.The firm had revenue of $66.03 million during the quarter, compared to analysts’ expectations of $57.55 million. Equities analysts predict that Graham Corporation will post 1.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Graham

A number of institutional investors have recently bought and sold shares of GHM. Blue Trust Inc. bought a new stake in Graham during the third quarter valued at about $28,000. State of Alaska Department of Revenue purchased a new stake in shares of Graham during the third quarter worth about $33,000. Comerica Bank grew its position in shares of Graham by 396.2% during the third quarter. Comerica Bank now owns 1,052 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 840 shares in the last quarter. BNP Paribas Financial Markets raised its stake in Graham by 62.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 410 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in Graham by 130.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,178 shares of the industrial products company’s stock valued at $58,000 after buying an additional 667 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Graham Company Profile

Graham Corporation, together with its subsidiaries, designs and manufactures fluid, power, heat transfer, and vacuum equipment for chemical and petrochemical processing, defense, space, petroleum refining, cryogenic, energy, and other industries. It offers power plant systems, including ejectors and surface condensers; torpedo ejection, propulsion, and power systems, such as turbines, alternators, regulators, pumps, and blowers; and thermal management systems comprising pumps, blowers, and drive electronics for defense sector.