Graham (NYSE:GHM) Reaches New 52-Week High – Here’s What Happened

Graham Corporation (NYSE:GHM) hit a new 52-week high on Monday . The stock traded as high as $72.99 and last traded at $72.40, with a volume of 42286 shares changing hands. The stock had previously closed at $66.38.

Analyst Ratings Changes

Several analysts have recently commented on GHM shares. 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 Graham from a “sell” rating to a “hold” rating in a research note on Sunday, November 16th. Zacks Research lowered Graham from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Graham in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Graham presently has an average rating of “Moderate Buy” and an average price target of $60.00.

Graham Price Performance

The company has a market capitalization of $784.63 million, a P/E ratio of 57.58 and a beta of 0.93. The firm has a fifty day moving average price of $61.31 and a 200-day moving average price of $55.59.

Graham (NYSE:GHM) last posted its quarterly earnings data on Friday, November 7th. The industrial products company reported $0.31 earnings per share 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 business had revenue of $66.03 million during the quarter, compared to analysts’ expectations of $57.55 million. On average, research analysts forecast that Graham Corporation will post 1.07 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. bought a new stake in shares of Graham in the 3rd quarter worth approximately $28,000. State of Alaska Department of Revenue bought a new position in shares of Graham during the 3rd quarter worth $33,000. BNP Paribas Financial Markets increased its holdings in Graham by 62.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 410 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in Graham by 130.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,178 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 667 shares during the last quarter. Finally, Comerica Bank lifted its holdings in Graham by 396.2% during the third quarter. Comerica Bank now owns 1,052 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 840 shares during the last quarter. 69.46% of the stock is owned by 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.