Graham (NYSE:GHM) Stock Price Target Lowered at Oppenheimer

Graham (NYSE:GHM) had its price target reduced by stock analysts at Oppenheimer from $130.00 to $115.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the industrial products company’s stock. Oppenheimer’s target price would indicate a potential upside of 36.32% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. Weiss Ratings lowered shares of Graham from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Northland Securities increased their price objective on Graham from $111.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Wall Street Zen raised Graham from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research downgraded Graham from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, JPMorgan Chase & Co. assumed coverage on Graham in a research report on Friday, October 2nd. They issued an “overweight” rating and a $120.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $123.33.

Graham Stock Performance

Shares of NYSE:GHM opened at $84.36 on Thursday. Graham has a 52 week low of $52.57 and a 52 week high of $125.82. The company has a market cap of $990.41 million, a PE ratio of 81.12 and a beta of 1.08. The firm has a 50 day simple moving average of $93.73 and a 200 day simple moving average of $97.42.

Graham (NYSE:GHM) last released its earnings results on Thursday, August 6th. The industrial products company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. The company had revenue of $71.34 million for the quarter, compared to analysts’ expectations of $65.60 million. Graham had a return on equity of 11.09% and a net margin of 4.53%.The business’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS. On average, equities analysts predict that Graham will post 1.87 earnings per share for the current year.

Hedge Funds Weigh In On Graham

Several hedge funds have recently bought and sold shares of the business. Westport Asset Management Inc. bought a new stake in shares of Graham during the 2nd quarter worth about $171,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Graham during the second quarter worth approximately $52,000. Silvant Capital Management LLC acquired a new position in Graham during the second quarter valued at approximately $101,000. Fifth Third Bancorp bought a new position in shares of Graham in the first quarter valued at approximately $69,000. Finally, Citizens Financial Group Inc. RI bought a new position in shares of Graham in the second quarter valued at approximately $1,456,000. 69.46% of the stock is owned by institutional investors and hedge funds.

Graham Company Profile

Graham Corporation (NYSE: GHM) designs and manufactures specialized equipment and systems for defense, aerospace, and energy markets. Its products include vacuum equipment, heat exchangers, condensers, ejectors, and related thermal-management systems used in demanding industrial and government applications.

The company serves the U.S. Navy and other government customers, as well as commercial clients in areas such as power generation and process industries. Graham also provides engineering, fabrication, testing, installation, and aftermarket support services for its equipment and systems.

Founded in 1936 and headquartered in Batavia, New York, Graham has expanded its capabilities through acquisitions, including Barber-Nichols, a Colorado-based engineering and manufacturing business focused on turbomachinery, propulsion, and power-conversion technologies.