Graham Corp. (NYSE:GHM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm presently has a $21.00 price target on the stock. Zacks Investment Research’s price objective points to a potential upside of 11.52% from the stock’s previous close.
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) traded down 0.84% on Wednesday, hitting $18.83. 23,175 shares of the stock traded hands. The stock has a 50-day moving average price of $18.75 and a 200 day moving average price of $18.73. The firm has a market cap of $182.90 million, a P/E ratio of 48.28 and a beta of 1.26. Graham Corp. has a 52 week low of $14.39 and a 52 week high of $21.09.
Graham Corp. (NYSE:GHM) last released its quarterly earnings data on Friday, July 29th. The company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.03. The company earned $22 million during the quarter, compared to the consensus estimate of $20.35 million. Graham Corp. had a net margin of 4.55% and a return on equity of 3.77%. Graham Corp.’s revenue for the quarter was down 19.0% on a year-over-year basis. During the same period last year, the firm earned $0.23 EPS. Equities research analysts predict that Graham Corp. will post $0.31 EPS for the current fiscal year.
In related news, CAO Jennifer R. Condame sold 4,974 shares of the firm’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $18.10, for a total value of $90,029.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GHM. Chartwell Investment Partners LLC purchased a new position in shares of Graham Corp. during the second quarter valued at approximately $3,408,000. Teton Advisors Inc. increased its position in shares of Graham Corp. by 4.8% in the second quarter. Teton Advisors Inc. now owns 34,600 shares of the company’s stock valued at $637,000 after buying an additional 1,600 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Graham Corp. by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 66,653 shares of the company’s stock valued at $1,227,000 after buying an additional 3,331 shares during the last quarter. American Century Companies Inc. increased its position in shares of Graham Corp. by 4.6% in the second quarter. American Century Companies Inc. now owns 610,363 shares of the company’s stock valued at $11,243,000 after buying an additional 26,691 shares during the last quarter. Finally, Thomson Horstmann & Bryant Inc. increased its position in shares of Graham Corp. by 8.2% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 398,088 shares of the company’s stock valued at $7,332,000 after buying an additional 30,000 shares during the last quarter. 74.51% of the stock is owned by 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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