Graham (NYSE:GHM) Trading Down 10.2% on Analyst Downgrade

Graham Corporation (NYSE:GHM)’s stock price fell 10.2% during 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 mid-day trading, a decline of 58% from the average session volume of 95,577 shares. The stock had previously closed at $76.25.

A number of other research firms also recently issued reports on GHM. Weiss Ratings downgraded Graham from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Wall Street Zen raised Graham from a “sell” rating to a “hold” rating in a report on Sunday, November 16th. Zacks Research cut Graham from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Finally, Noble Financial lowered Graham from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Graham currently has an average rating of “Hold” and an average target price of $72.50.

Institutional Trading of Graham

Several institutional investors and hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its stake in Graham by 77.8% during the second quarter. Russell Investments Group Ltd. now owns 86,358 shares of the industrial products company’s stock worth $4,276,000 after purchasing an additional 37,781 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Graham by 39.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 115,846 shares of the industrial products company’s stock valued at $6,360,000 after buying an additional 32,790 shares in the last quarter. ARS Investment Partners LLC purchased a new position in shares of Graham during the 2nd quarter valued at about $464,000. Inspire Investing LLC bought a new stake in Graham in the 2nd quarter worth approximately $912,000. Finally, Advisors Asset Management Inc. boosted its stake in Graham by 50.0% in the second quarter. Advisors Asset Management Inc. now owns 17,691 shares of the industrial products company’s stock worth $876,000 after buying an additional 5,895 shares in the last quarter. Hedge funds and other institutional investors own 69.46% of the company’s stock.

Graham Stock Down 1.7%

The firm has a market capitalization of $762.19 million, a P/E ratio of 55.93 and a beta of 0.93. The business’s 50-day simple moving average is $65.55 and its 200 day simple moving average is $58.29.

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

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.