Graham (NYSE:GHM) Hits New 52-Week High – Time to Buy?

Graham Corporation (NYSE:GHM)’s share price reached a new 52-week high on Wednesday . The company traded as high as $125.82 and last traded at $124.0180, with a volume of 295504 shares trading hands. The stock had previously closed at $119.82.

Analyst Ratings Changes

A number of research firms recently commented on GHM. Northland Securities lifted their price target on shares of Graham from $111.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, June 23rd. Zacks Research lowered Graham from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Oppenheimer upped their price target on Graham to $130.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. Wall Street Zen downgraded Graham from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings raised Graham from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, June 9th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Graham currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Graham Trading Up 3.5%

The firm has a 50-day simple moving average of $101.97 and a 200-day simple moving average of $86.18. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.45 billion, a PE ratio of 109.75 and a beta of 1.04.

Graham (NYSE:GHM) last announced its quarterly earnings results on Monday, June 8th. The industrial products company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The company had revenue of $67.08 million during the quarter, compared to analysts’ expectations of $59.95 million. Graham had a return on equity of 11.94% and a net margin of 5.10%.The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. Equities analysts forecast that Graham Corporation will post 1.85 earnings per share for the current year.

Institutional Investors Weigh In On Graham

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its position in shares of Graham by 62.8% in the second quarter. BNP Paribas Financial Markets now owns 1,063 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 410 shares during the period. Comerica Bank increased its holdings in Graham by 396.2% during the 3rd quarter. Comerica Bank now owns 1,052 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 840 shares during the period. Fifth Third Bancorp bought a new stake in Graham during the 1st quarter worth approximately $69,000. Covestor Ltd lifted its stake in Graham by 4,697.4% in the 4th quarter. Covestor Ltd now owns 1,871 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 1,832 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Graham by 385.1% in the 4th quarter. State of Alaska Department of Revenue now owns 2,925 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 2,322 shares in the last quarter. 69.46% of the stock is currently owned by institutional investors.

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.