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

Graham Corporation (NYSE:GHM)’s share price hit a new 52-week high 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 analysts have weighed in on GHM shares. Weiss Ratings reissued a “hold (c)” rating on shares of Graham in a research note on Wednesday, May 20th. Zacks Research raised shares of Graham from a “hold” rating to a “strong-buy” rating in a research note on Friday, April 10th. Northland Securities upgraded shares of Graham from a “market perform” rating to an “outperform” rating in a report on Tuesday, February 10th. Finally, Oppenheimer assumed coverage on shares of Graham in a report on Wednesday, March 18th. They set an “outperform” rating and a $100.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.67.

Graham Stock Performance

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

Institutional Investors Weigh In On Graham

A number of institutional investors and hedge funds have recently bought and sold shares of GHM. Auto Owners Insurance Co lifted its position in Graham by 6,323.0% in the fourth quarter. Auto Owners Insurance Co now owns 706,530 shares of the industrial products company’s stock valued at $4,538,000 after acquiring an additional 695,530 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Graham in the third quarter valued at $15,043,000. Royal Bank of Canada increased its stake in Graham by 7,833.6% in the fourth quarter. Royal Bank of Canada now owns 245,625 shares of the industrial products company’s stock valued at $15,777,000 after purchasing an additional 242,529 shares during the period. Agman Capital LLC acquired a new position in Graham in the fourth quarter valued at $14,079,000. Finally, Alyeska Investment Group L.P. acquired a new position in Graham in the third quarter valued at $10,356,000. 69.46% of the stock is owned by hedge funds and other institutional investors.

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.