Graham (NYSE:GHM) Shares Gap Down – Here’s What Happened

Shares of Graham Corporation (NYSE:GHM) gapped down prior to trading on Thursday . The stock had previously closed at $111.17, but opened at $103.56. Graham shares last traded at $101.40, with a volume of 10,545 shares traded.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Weiss Ratings raised Graham from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Zacks Research lowered shares of Graham from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Oppenheimer lifted their target price on Graham to $130.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Wall Street Zen upgraded shares of Graham from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Northland Securities lifted their price objective on Graham from $111.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $132.50.

Graham Stock Up 1.5%

The stock’s fifty day moving average price is $108.71 and its 200-day moving average price is $96.10. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 97.61 and a beta of 1.04.

Graham (NYSE:GHM) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. Graham had a net margin of 4.53% and a return on equity of 11.09%. The company had revenue of $71.34 million during the quarter, compared to the consensus estimate of $65.60 million. During the same period in the prior year, the business posted $0.45 EPS. The company’s quarterly revenue was up 28.6% on a year-over-year basis. Analysts anticipate that Graham Corporation will post 1.87 EPS for the current year.

Institutional Investors Weigh In On Graham

Several hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Graham in the second quarter valued at approximately $52,000. BNP Paribas Financial Markets lifted its holdings in shares of Graham by 62.8% during the second quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company’s stock worth $53,000 after buying an additional 410 shares in the last quarter. Comerica Bank boosted its holdings in 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 during the period. Fifth Third Bancorp bought a new stake in shares of Graham in the first quarter valued at approximately $69,000. Finally, Silvant Capital Management LLC acquired a new stake in shares of Graham during the 2nd quarter worth $101,000. 69.46% of the stock is currently owned by institutional investors and hedge funds.

About Graham

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.