Graham Corp. (GHM) Rating Lowered to Hold at Zacks Investment Research
Graham Corp. (NYSE:GHM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Graham Corporation designs and builds vacuum and heat transfer equipment for process industries and energy markets worldwide. The Company’s products include steam jet ejector vacuum systems and liquid ring vacuum pumps, surface condensers, Heliflows, water heaters, and various types of heat exchangers. It markets to chemical, petrochemical, petroleum refining, and electric power generating industries, including cogeneration and geothermal plants. Graham Corporation is headquartered in Batavia, New York. “
Shares of Graham Corp. (NYSE:GHM) opened at 19.10 on Monday. Graham Corp. has a one year low of $14.39 and a one year high of $21.09. The stock has a market cap of $185.52 million, a PE ratio of 48.97 and a beta of 1.38. The stock’s 50 day moving average price is $18.86 and its 200-day moving average price is $18.69.
Graham Corp. (NYSE:GHM) last released its earnings results on Friday, July 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $22 million for the quarter, compared to analyst estimates of $20.35 million. Graham Corp. had a return on equity of 3.77% and a net margin of 4.55%. Graham Corp.’s revenue was down 19.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 earnings per share. On average, equities analysts predict that Graham Corp. will post $0.31 earnings per share for the current fiscal year.
In related news, CAO Jennifer R. Condame sold 4,974 shares of Graham Corp. stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $18.10, for a total transaction of $90,029.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 3.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY purchased a new position in Graham Corp. during the first quarter worth about $159,000. O Shaughnessy Asset Management LLC raised its position in Graham Corp. by 1,554.6% in the second quarter. O Shaughnessy Asset Management LLC now owns 9,663 shares of the company’s stock worth $178,000 after buying an additional 9,079 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in Graham Corp. by 7.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 12,018 shares of the company’s stock worth $239,000 after buying an additional 875 shares during the last quarter. Spark Investment Management LLC purchased a new position in Graham Corp. during the second quarter worth about $228,000. Finally, Springbank Value Partners LP raised its position in Graham Corp. by 6.7% in the first quarter. Springbank Value Partners LP now owns 16,000 shares of the company’s stock worth $319,000 after buying an additional 1,000 shares during the last quarter. 74.51% of the stock is currently owned by hedge funds and other institutional investors.
Graham Corp. Company Profile
Graham Corporation designs, manufactures and sells critical equipment for the energy, defense and chemical/petrochemical industries. The Company designs and manufactures custom-engineered ejectors, vacuum pumping systems, surface condensers and vacuum systems. It is a nuclear code accredited fabrication and specialty machining company.
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