Graham (NYSE:GHM) Sets New 12-Month High – Still a Buy?

Graham Corporation (NYSE:GHM) shares hit a new 52-week high on Thursday . The stock traded as high as $76.81 and last traded at $74.61, with a volume of 13980 shares trading hands. The stock had previously closed at $74.53.

Analyst Ratings Changes

GHM has been the topic of a number of research reports. Weiss Ratings lowered Graham from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Wall Street Zen upgraded shares of Graham from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Noble Financial downgraded shares of Graham from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 21st. Finally, Zacks Research downgraded shares of Graham from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Graham Stock Performance

The firm has a market cap of $816.41 million, a price-to-earnings ratio of 59.99 and a beta of 0.93. The business’s 50 day moving average price is $63.90 and its 200 day moving average price is $57.55.

Graham (NYSE:GHM) last posted its quarterly earnings data 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). The company had revenue of $66.03 million for the quarter, compared to analysts’ expectations of $57.55 million. Graham had a net margin of 6.00% and a return on equity of 12.44%. Sell-side analysts anticipate that Graham Corporation will post 1.07 earnings per share for the current fiscal year.

Institutional Trading of Graham

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. purchased a new position in shares of Graham during the 3rd quarter worth approximately $28,000. State of Alaska Department of Revenue purchased a new position in Graham during the 3rd quarter valued at about $33,000. Comerica Bank grew its position in Graham by 396.2% in the 3rd quarter. Comerica Bank now owns 1,052 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 840 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Graham by 62.8% during the second quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 410 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in Graham by 130.5% during the second quarter. First Horizon Advisors Inc. now owns 1,178 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 667 shares during the period. 69.46% of the stock is currently owned by hedge funds and other institutional investors.

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.