Graham Corporation (NYSE:GHM – Get Free Report)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $121.16 and last traded at $119.7720, with a volume of 23109 shares trading hands. The stock had previously closed at $115.32.
Analysts Set New Price Targets
Several equities research analysts have weighed in on GHM shares. Northland Securities raised their target price on shares of Graham from $111.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday. Zacks Research downgraded Graham from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 10th. Wall Street Zen lowered Graham from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Oppenheimer set a $130.00 price objective on Graham in a research report on Thursday. Finally, Weiss Ratings upgraded Graham from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, June 9th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.
Read Our Latest Stock Report on Graham
Graham Stock Up 5.1%
Graham (NYSE:GHM – Get Free Report) last issued its quarterly earnings results on Monday, June 8th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. Graham had a net margin of 5.10% and a return on equity of 11.94%. The business had revenue of $67.08 million for the quarter, compared to analyst estimates of $59.95 million. During the same quarter in the prior year, the business posted $0.40 EPS. Graham’s revenue for the quarter was up 13.0% compared to the same quarter last year. Sell-side analysts anticipate that Graham Corporation will post 1.85 earnings per share for the current year.
Hedge Funds Weigh In On Graham
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp purchased a new stake in Graham during the 1st quarter valued at about $69,000. Comerica Bank raised its stake 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 worth $58,000 after purchasing an additional 840 shares during the last quarter. BNP Paribas Financial Markets raised its stake 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 worth $53,000 after purchasing an additional 410 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Graham by 4,697.4% during the fourth quarter. Covestor Ltd now owns 1,871 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 1,832 shares during the period. Finally, Moran Wealth Management LLC acquired a new stake in shares of Graham during the first quarter worth about $215,000. Hedge funds and other institutional investors own 69.46% of the company’s stock.
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.
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