Graham (NYSE:GHM) Stock Price Target Cut by JPMorgan Chase & Co.

Graham (NYSE:GHM) had its price target dropped by JPMorgan Chase & Co. from $120.00 to $100.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 28.37% from the company’s current price.

Several other research firms have also commented on GHM. William Blair started coverage on shares of Graham in a research note on Monday. They set an “outperform” rating for the company. Weiss Ratings downgraded shares of Graham from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Wall Street Zen upgraded shares of Graham from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Oppenheimer lowered their target price on shares of Graham from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, October 8th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.67.

Graham Price Performance

Shares of NYSE GHM opened at $77.90 on Friday. The business’s 50 day moving average is $80.15 and its two-hundred day moving average is $91.09. Graham has a 1-year low of $52.57 and a 1-year high of $125.82. The stock has a market capitalization of $914.51 million, a P/E ratio of 67.74 and a beta of 1.16.

Graham (NYSE:GHM) last posted its quarterly earnings data on Thursday, November 5th. The industrial products company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.18. The business had revenue of $69.76 million during the quarter, compared to analyst estimates of $71.07 million. Graham had a return on equity of 11.56% and a net margin of 5.05%. As a group, equities research analysts anticipate that Graham will post 1.90 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Graham

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Graham during the second quarter worth approximately $110,235,000. William Blair Investment Management LLC bought a new stake in shares of Graham during the second quarter valued at approximately $45,159,000. De Lisle Partners LLP purchased a new stake in shares of Graham in the second quarter valued at approximately $11,141,000. Philadelphia Trust Co. boosted its holdings in shares of Graham by 36.0% in the third quarter. Philadelphia Trust Co. now owns 87,531 shares of the industrial products company’s stock valued at $7,555,000 after purchasing an additional 23,157 shares during the period. Finally, Wasatch Advisors LP boosted its holdings in shares of Graham by 0.8% in the second quarter. Wasatch Advisors LP now owns 85,103 shares of the industrial products company’s stock valued at $10,535,000 after purchasing an additional 659 shares during the period. 69.46% of the stock is currently owned by hedge funds and other 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.