Graham (NYSE:GHM) Stock Price Down 10.2% After Analyst Downgrade

Graham Corporation (NYSE:GHM)’s share price traded down 10.2% during mid-day trading on Tuesday after Northland Securities downgraded the stock from an outperform rating to a market perform rating. Northland Securities now has a $80.00 price target on the stock. Graham traded as low as $69.12 and last traded at $68.4450. 39,947 shares traded hands during trading, a decline of 58% from the average session volume of 95,577 shares. The stock had previously closed at $76.25.

Other research analysts have also issued research reports about the stock. Weiss Ratings lowered shares of Graham from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Noble Financial lowered Graham from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 21st. Zacks Research cut Graham from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Wall Street Zen upgraded shares of Graham from a “sell” rating to a “hold” rating in a research report on Sunday, November 16th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Graham currently has a consensus rating of “Hold” and a consensus price target of $72.50.

Institutional Investors Weigh In On Graham

Hedge funds have recently modified their holdings of the business. Blue Trust Inc. acquired a new stake in shares of Graham during the 3rd quarter worth $28,000. State of Alaska Department of Revenue acquired a new stake in shares of Graham during the 3rd quarter worth approximately $33,000. BNP Paribas Financial Markets raised its position in Graham by 62.8% during the second quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 410 shares in the last quarter. First Horizon Advisors Inc. raised its position in Graham by 130.5% during the second quarter. First Horizon Advisors Inc. now owns 1,178 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 667 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of Graham by 396.2% in the 3rd quarter. Comerica Bank now owns 1,052 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 840 shares in the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

Graham Trading Down 9.5%

The company has a market cap of $758.72 million, a P/E ratio of 55.38 and a beta of 0.93. The company has a 50 day moving average price of $64.98 and a 200-day moving average price of $58.08.

Graham (NYSE:GHM) last issued its earnings results on Friday, November 7th. The industrial products company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.02). The business had revenue of $66.03 million for the quarter, compared to analyst estimates of $57.55 million. Graham had a return on equity of 12.44% and a net margin of 6.00%. Equities analysts expect that Graham Corporation will post 1.07 earnings per share for the current year.

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.