Graham (NYSE:GHM) Sets New 52-Week High – Still a Buy?

Graham Corporation (NYSE:GHM) shares reached a new 52-week high on Monday . The stock traded as high as $73.02 and last traded at $72.1250, with a volume of 38022 shares changing hands. The stock had previously closed at $70.95.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wall Street Zen raised shares of Graham from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Graham in a research note on Monday, December 29th. Noble Financial cut Graham from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 21st. Finally, Zacks Research downgraded Graham from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $60.00.

Graham Price Performance

The firm has a market cap of $791.33 million, a P/E ratio of 58.07 and a beta of 0.93. The company has a fifty day moving average of $62.28 and a 200-day moving average of $56.50.

Graham (NYSE:GHM) last issued 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). The company had revenue of $66.03 million for the quarter, compared to the consensus estimate of $57.55 million. Graham had a net margin of 6.00% and a return on equity of 12.44%. On average, sell-side analysts expect that Graham Corporation will post 1.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Graham

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new stake in Graham in the 3rd quarter valued at about $28,000. State of Alaska Department of Revenue bought a new position in shares of Graham in the third quarter valued at approximately $33,000. Comerica Bank increased 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 valued at $58,000 after acquiring an additional 840 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings 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 acquiring an additional 410 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in Graham by 130.5% in 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 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.