Graham (NYSE:GHM) Hits New 52-Week High – Should You Buy?

Graham Corporation (NYSE:GHM) reached a new 52-week high during trading on Friday . The company traded as high as $110.01 and last traded at $106.8720, with a volume of 87260 shares trading hands. The stock had previously closed at $107.96.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GHM. Oppenheimer began coverage on shares of Graham in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $100.00 price objective on the stock. Northland Securities upgraded shares of Graham from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 10th. Zacks Research upgraded shares of Graham from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Graham in a research note on Wednesday, May 20th. One research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $81.67.

Graham Price Performance

The business’s 50 day moving average price is $93.22 and its 200-day moving average price is $79.48. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 78.50 and a beta of 1.04.

Institutional Trading of Graham

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its position in shares of Graham by 62.8% in the second quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 410 shares during the last quarter. Comerica Bank grew its position in shares of Graham by 396.2% in 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. Fifth Third Bancorp acquired a new stake in shares of Graham in the first quarter valued at approximately $69,000. Covestor Ltd grew its position in shares of Graham by 4,697.4% in the fourth quarter. Covestor Ltd now owns 1,871 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,832 shares during the last quarter. Finally, AdvisorShares Investments LLC acquired a new stake in shares of Graham in the third quarter valued at approximately $165,000. 69.46% of the stock is currently owned by institutional investors and hedge funds.

Graham Company Profile

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.