Graham Corporation (NYSE:GHM – Get Free Report)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $111.17, but opened at $103.56. Graham shares last traded at $101.40, with a volume of 10,545 shares traded.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on GHM. Zacks Research cut Graham from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Weiss Ratings upgraded Graham from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Northland Securities upped their price objective on Graham from $111.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, June 23rd. Oppenheimer increased their target price on Graham to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Finally, Wall Street Zen upgraded Graham from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Graham has a consensus rating of “Hold” and an average price target of $132.50.
Check Out Our Latest Stock Report on GHM
Graham Stock Down 2.0%
Graham (NYSE:GHM – Get Free Report) last issued its earnings results on Thursday, August 6th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. Graham had a net margin of 4.53% and a return on equity of 11.09%. The company had revenue of $71.34 million for the quarter, compared to analysts’ expectations of $65.60 million. During the same period in the prior year, the business earned $0.45 EPS. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. Equities analysts forecast that Graham Corporation will post 1.87 earnings per share for the current year.
Institutional Trading of Graham
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Graham in the second quarter worth about $110,235,000. Auto Owners Insurance Co boosted its holdings in shares of Graham by 6,323.0% in the 4th quarter. Auto Owners Insurance Co now owns 706,530 shares of the industrial products company’s stock valued at $4,538,000 after buying an additional 695,530 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Graham in the 2nd quarter valued at about $45,159,000. Royal Bank of Canada grew its position in shares of Graham by 7,833.6% in the 4th quarter. Royal Bank of Canada now owns 245,625 shares of the industrial products company’s stock worth $15,777,000 after buying an additional 242,529 shares during the last quarter. Finally, Agman Capital LLC purchased a new position in shares of Graham in the 4th quarter worth approximately $14,079,000. 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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