Zacks Investment Research upgraded shares of Graham Corp. (NYSE:GHM) from a hold rating to a buy rating in a research report report published on Wednesday morning. The brokerage currently has $21.00 price objective on the stock.
According to Zacks, “Graham Corporation designs and builds vacuum and heat transfer equipment for process industries and energy markets worldwide. The Company’s products include steam jet ejector vacuum systems and liquid ring vacuum pumps, surface condensers, Heliflows, water heaters, and various types of heat exchangers. It markets to chemical, petrochemical, petroleum refining, and electric power generating industries, including cogeneration and geothermal plants. Graham Corporation is headquartered in Batavia, New York. “
Graham Corp. (NYSE:GHM) opened at 19.10 on Wednesday. The stock’s 50 day moving average price is $18.81 and its 200-day moving average price is $18.72. The stock has a market capitalization of $185.52 million, a P/E ratio of 48.97 and a beta of 1.38. Graham Corp. has a 52 week low of $14.39 and a 52 week high of $21.09.
Graham Corp. (NYSE:GHM) last announced its earnings results on Friday, July 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.03. Graham Corp. had a return on equity of 3.77% and a net margin of 4.55%. The business had revenue of $22 million for the quarter, compared to analyst estimates of $20.35 million. During the same period in the previous year, the company earned $0.23 earnings per share. The company’s revenue for the quarter was down 19.0% compared to the same quarter last year. Equities research analysts expect that Graham Corp. will post $0.31 earnings per share for the current year.
In other news, CAO Jennifer R. Condame sold 4,974 shares of Graham Corp. stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $18.10, for a total transaction of $90,029.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its stake in shares of Graham Corp. by 1.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 30,990 shares of the company’s stock valued at $571,000 after buying an additional 504 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Graham Corp. by 7.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 12,018 shares of the company’s stock valued at $239,000 after buying an additional 875 shares in the last quarter. Springbank Value Partners LP raised its stake in shares of Graham Corp. by 6.7% in the first quarter. Springbank Value Partners LP now owns 16,000 shares of the company’s stock valued at $319,000 after buying an additional 1,000 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Graham Corp. by 1.9% in the first quarter. Geode Capital Management LLC now owns 60,764 shares of the company’s stock valued at $1,209,000 after buying an additional 1,134 shares in the last quarter. Finally, Teton Advisors Inc. raised its stake in shares of Graham Corp. by 4.8% in the second quarter. Teton Advisors Inc. now owns 34,600 shares of the company’s stock valued at $637,000 after buying an additional 1,600 shares in the last quarter. 74.51% of the stock is owned by hedge funds and other institutional investors.
Graham Corp. Company Profile
Graham Corporation designs, manufactures and sells critical equipment for the energy, defense and chemical/petrochemical industries. The Company designs and manufactures custom-engineered ejectors, vacuum pumping systems, surface condensers and vacuum systems. It is a nuclear code accredited fabrication and specialty machining company.
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