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

Graham Corporation (NYSE:GHM)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $73.02 and last traded at $72.1250, with a volume of 38022 shares trading hands. The stock had previously closed at $70.95.

Analyst Ratings Changes

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

Graham Trading Up 1.5%

The business’s 50-day simple moving average is $62.28 and its two-hundred day simple moving average is $56.50. The firm has a market cap of $791.33 million, a price-to-earnings ratio of 58.07 and a beta of 0.93.

Graham (NYSE:GHM) last posted its quarterly earnings data on Friday, November 7th. The industrial products company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). Graham had a net margin of 6.00% and a return on equity of 12.44%. The firm had revenue of $66.03 million during the quarter, compared to the consensus estimate of $57.55 million. On average, analysts forecast that Graham Corporation will post 1.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Graham

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Graham by 2.2% in the third quarter. Vanguard Group Inc. now owns 602,448 shares of the industrial products company’s stock worth $33,074,000 after purchasing an additional 12,974 shares in the last quarter. Royce & Associates LP grew its position in shares of Graham by 24.0% during the 3rd quarter. Royce & Associates LP now owns 459,698 shares of the industrial products company’s stock worth $25,237,000 after buying an additional 89,014 shares during the period. Wasatch Advisors LP increased its stake in shares of Graham by 6.1% in the 2nd quarter. Wasatch Advisors LP now owns 316,203 shares of the industrial products company’s stock valued at $15,655,000 after acquiring an additional 18,084 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Graham during the 3rd quarter valued at $15,043,000. Finally, American Century Companies Inc. boosted its stake in Graham by 19.5% during the second quarter. American Century Companies Inc. now owns 265,443 shares of the industrial products company’s stock worth $13,142,000 after acquiring an additional 43,256 shares in the last quarter. Institutional investors own 69.46% of the company’s stock.

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.